Before putting their Farragut home up for sale, many sellers consider what home improvement projects will be most worth making before putting their home on the market. Should you update your kitchen? Do a fresh paint job throughout the house? Update bathrooms? It can be difficult to decide, but according to the 2013 Cost Vs. Value Report, sellers see the most return on investment when they make improvements to the exterior of their homes. Exterior home improvement projects upgrade a Farragut home’s curb appeal and attract buyers even before they walk into your home.
The Cost Vs. Value report is an annual report where real estate professionals including REALTORS®, Brokers, and appraisers rate resale values in the real estate market. The report explains the current resale values in certain areas and also explores which home improvement projects are most worth it for each year. This year exterior improvements were rated the highest for increasing sales prices. Here is a break down of the most popular home improvement projects were most worth making on the exterior of your Farragut home.
One of the best improvements a seller can make is replacing the front door on their Farragut home with a steel entry door. A steel entry door can be a cost effective improvement costing as low as $150-$400 for simple door with no hardware, lock, or paint. On the high end, a steel entry door with all the trimmings costs nationally about $1,100. Steel entry doors provide a strong barrier against intruders and enjoy a decent life span. Sellers see an 85.6% of return on this home improvement project.
Additionally, replacing home siding on your Farragut is another exterior improvement that sees a high return. Replacing home siding with fiber cement siding sees a return of 79.3% of costs, vinyl siding sees a return of 72.9%, and foam backed siding sees a return of 71.8%. Replacing old, discolored siding can make a older home look new again and greatly improve a home’s curb appeal. For an average home, the cost of replacement is on average $10, 342. Luckily, sellers enjoy at least a 70% return on investment when they replacing the siding on their Farragut home.
Two other exterior home improvement projects that ranked high on return were installing a new out porch or patio, which saw at 77.8% return on investment. Also, replacing garage doors also ranked high on return with a 77.4% of return on investment.
Are you thinking about selling your Farragut home this year? Have you thought about what projects you would like to take on? If there is anyway Knoxville Home Team can assist you, please let us know, you can give Rick at call at 865-696-9002 or send an email to [email protected]. Kati can be contacted at 865-392-5880 or via email at [email protected].