Do Exterior Renovations Really Boost Home Value?

The exterior of your home is the first thing buyers see, and first impressions often set the tone for how someone feels about a property as a whole. That's why, if you're planning to sell, stepping up your curb appeal game is a must. While small cosmetic changes like a fresh coat of paint or some updated landscaping may do the trick, taking on a larger exterior renovation can be the key to dramatically boosting your home's value.

As Christie Cannon, a real estate agent for Keller Williams, told Zillow, "If a home looks well-maintained and updated from the outside, it builds trust that the interior is cared for too." Of course, exterior renovations can come in all shapes and sizes. According to a report by The Journal of Light Construction that compared the resale value of various home makeovers, the clear winner when it comes to an exterior home renovation project that offers the highest ROI is replacing a garage door. This project might not only make the front of your house look nicer, it could also save you even more cash by making the whole building more secure and energy efficient. It also provides a lot of bang for your buck: The Journal of Light Construction estimates the project costs around $4,600 on average, but can add over $12,500 to a home's resale value.

New garage doors aren't the only renovations that could be worth your time. Replacing an entry door with a steel unit is another way to add significant value to a home. The Journal of Light Construction estimates this renovation can yield upwards of 216% in returns. This number shouldn't come as a surprise: In addition to looking great, steel makes for one of the most durable materials for a long-lasting front door. Like garage doors, steel doors also enhance energy efficiency. Per the Journal of Light Construction's estimates, this installation has an average cost of less than $2,500 and an estimated resale value of more than double that.

And though it might have a higher overhead cost — around $11,000 — adding exterior stone to your home can instantly increase a house's value if you have the capital. Based on the Journal's estimates, renovating with manufactured stone veneer could yield you upwards of $24,000 in resale value.

Replacing your existing siding with fiber-cement board or vinyl, building a wood or composite deck, or investing in a new roof or windows can also improve a property's likelihood of selling. While many of these improvements are more costly, they might attract buyers who appreciate the added energy efficiency, protection from the elements, and the peace of mind that comes with knowing they won't have to tackle those projects anytime soon.