(BPT) - When it comes to adding value to a home, think outside the box. According to the 2022 Cost vs. Value Report from Remodeling magazine, nine of the top 10 home improvement projects proven to deliver the highest return on investment (ROI) at resale were exterior renovations.
From the front stoop to the backyard, outdoor remodeling projects can add tremendous value by boosting curb appeal and function — factors that have a big impact on how much money prospective home buyers are willing to pay for a home. To pique the interest of potential buyers before they even walk through the front door, here are five eye-catching exterior upgrades sure to pay off in the long run.
1. Upgrade your deck
Recently, outdoor living has propelled to the top of homeowner and homebuyer wish lists. According to Remodeling, installing a new deck can add $12,000-$15,000 to a home’s resale value equating to a ROI of 62-65%, depending on whether the deck is built with wood or composite material.
A composite deck offers long-lasting beauty and low-maintenance benefits that appeal to today’s time-stretched consumers. Unlike wood, high-performance composite decking, such as Trex, requires minimal upkeep as it is engineered to resist fading, scratching and mold, and won’t rot, warp, crack or splinter. With no sanding, staining or painting required, composite decks attract homeowners looking to spend more time enjoying their outdoor spaces rather than maintaining them.
2. Replace railings
One of the most visible aspects of a deck, railing is often the first thing prospective buyers notice and has the power to set the tone for an entire outdoor space. If the existing railing is beginning to show signs of wear, replacing it with something new and modern can give a deck an instant facelift that will boost curb appeal and perceived value. For a custom look, consider infill options like contemporary rod, mesh or glass inserts that optimize sightlines and deliver a modern flair.
3. Create an outdoor room
Another value-add upgrade to any deck or yard is a pergola. This relatively easy addition creates the look and feel of an outdoor room with structural prominence that adds architectural appeal. Today’s pergolas offer customizable shade options to provide shelter from the sun and elements, extending the livability of an exterior entertaining space by offering cool relief on hot days.
4. Enhance privacy
The past few years have left us craving safety and serenity. Thus, privacy is more important than ever. To enhance the sense of seclusion in an outdoor space, incorporate decorative privacy screens. Made of sturdy, low-maintenance materials, panels are offered in both permanent and moveable options, are available in multiple patterns and colors to complement the aesthetic of any outdoor setting, and are ideal for enhancing privacy around decks, patios and pools.
5. Highlight the home with outdoor lighting
Landscape, string, railing and deck lighting are simple and cost-effective upgrades that can highlight the eye-catching features of a home’s exterior after the sun goes down. Outdoor lighting can also add value as a wayfinding tool to enhance the safety of an outdoor space and extend the amount of time homeowners are able to spend enjoying the outdoors after dark. For easy, DIY-friendly assembly, look for plug-and-play components that are durable and waterproof.
For more inspiration and ideas to boost the function and value of your home’s outdoor space, visit Trex.com.