Well, it's finally happened! After my 15 years in the industry, I get to announce that outdoor renovations have officially replaced indoor as the top five upgrades for your home according to Remodeling Magazine's 2015 cost vs. value report. For all of the builders and interior designers out there, now is the time to let the landscapers shine because it is our turn!
If you're thinking about making some changes to your own home and want to increase your property value at the same time, invest in these outdoor upgrades!
1. A new front door. This is the only improvement for the entire house that is worth more money the moment you install it! Adding a new solid steel door to the front of your home is expected to see a return of 101.8 per cent! Even I was surprised by this one. Although it does make sense. A front door for your home is like the wheels on a new car. Nobody buys a car because of the wheels, but everyone checks the wheels before they buy a car. The front door doesn't sell a home, but it is the very first item that a potential buyer checks when walking in. If the front door is solid and in good condition, buyers assume that the rest of the home will be up to the same standards.
2. Manufactured Stone Veneers. More companies are entering into this market everyday and with an expected rate-of-return of 92 per cent, consumers are happy to have the choices. Having stone veneers at the front of your home is a great way to add visual impact without rebuilding your house. Stone gives the impression that a home is solid; able to withstand the elements (and the children). Companies like RINOX.ca are now offering multiple styles to compliment any type of home so that buyers can customize their own spaces. The key to successful veneers is in the colour saturation. More colour in the stone means that the colour will last longer...holding its value longer too!
3. A wooden deck. I've always been an advocate of expanding your living space into the backyard. For most of us, a wood deck is a simple and effective way to create an outdoor room...with an 80.5 per cent return-on-investment! Traditionally cedar has had the best-perceived value, but with rising material costs this has been changing. MicroPro Sienna, the brown version of pressure treated is poised to take over the top spot. With the rich look of cedar at significantly reduced cost, more homeowners are opting for this new style of wood over the green alternative.
The other two home improvements to round out the top five are a new garage door and vinyl siding. Where are kitchens and baths? Major kitchen upgrades have slipped all the way down to an r.o.i. of 67.8 per cent while adding a new bathroom hit 57.8 per cent. If you do your research, you'll find that these numbers are from a U.S.-based firm, but the experts at Century 21 Canada agree that outdoor renovations, especially improvements in curb appeal will definitely help you add value to your home!
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