The importance of first impressions is something that has been talked about for ages. When first meeting a person, creating a good first impression is no doubt an important step in getting to know them. It can determine whether or not you choose to approach them, and if you choose to get to know them.
The same is true with a home buyer looking at a house. In today’s real estate market it is not always the expensive remodeling jobs that are yielding the highest returns, but rather the small projects that catch a home buyer’s attention.Curbside appeal is something that is often looked past by home sellers. Exterior projects often attract buyers’ attention without hurting your wallet. In a recent Remodeling Cost vs. Value Report, exterior projects returned a higher percent of project costs upon resale compared to other more expensive interior renovations.
Some projects in the top 10 Cost vs. Value list were; replacing vinyl siding, more upscale fiber-cement siding, replacing windows, installing new front doors, and adding a wooden deck. On a national level, eight of the top ten cost effective projects were exterior additions, with each recouping at least 75 percent of project costs.
There were two interior projects that made the top ten. Converting attic space into an extra bedroom and small kitchen remodeling projects recouped 83.1 and 78.3 percent of costs respectively. Although these projects may give you similar returns to what an exterior project would, in a competitive market you'll need to catch a buyer’s eye before they'll come inside.