6 Summer Home Projects That Actually Increase Your Home's Value -- Homeowners, Start Here
For most people, summer means road trips and backyard cookouts. But for homeowners, it’s also a good time to take on projects that can add value to your property.
Summer is an ideal season for outdoor projects because of the warm, sunny weather and longer days. The best summer upgrades should also offer a strong return on investment (ROI), meaning the money spent can be recouped through increased resale value.
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Here are six summer home projects that can boost your home’s value while delivering solid ROI.
1. Garage Door Replacement
Average Cost: $4,672
Typical ROI: 268%
If you’re looking for a project that delivers strong value, this is a good place to start. Few upgrades offer the same level of impact as replacing a garage door, according to a blog from Fox Homes, which serves the Northern Virginia and Washington, D.C., area.
The garage door is “one of the largest visual elements on most homes, which means upgrading it instantly changes how the property is perceived,” Fox Homes noted. “A new door suggests reliability, insulation and reduced future repairs … This is not just a cosmetic change. It is a signal that the home is updated where it matters.”
2. Exterior Paint Job
Average Cost: $1.50 to $4 per square foot; $2,000 to $10,000+ total
Typical ROI: 51% to 55%
For many homeowners, summer is the best — and sometimes only practical — season to repaint the exterior. It’s also “one of the most inexpensive ways to boost curb appeal,” according to a blog from OneTrust Home Loans, while still adding meaningful value to your home.
3. Deck and Patio Additions
Average Cost: $7,000 to $15,000 (wood or composite deck); $10,000 to $25,000 (patio or pavers)
Typical ROI: 70% to 80%
As with exterior painting, summer is an ideal time to add or upgrade a deck or patio. While these projects can be costly upfront, they often pay off. Deck and patio additions can “recoup around 70% to 80% of their cost,” according to Janet McAfee Real Estate. “Adding a deck or patio can extend your living area and provide a great space for entertaining.”
4. Front Door Replacement
Average Cost: $1,200 to $1,500 (midrange steel or fiberglass with installation)
Typical ROI: 55% (wood); 97% (fiberglass); 188% (steel)
As Fox Homes noted, the front door “sets the tone for the entire home” because it serves as “the first physical interaction a buyer has with the property … A worn or outdated entry creates hesitation. A strong, modern entry builds confidence.” Steel doors are often recommended for their durability, security and clean design.
5. Energy-Efficient Windows
Average Cost: $400 to $900 each
Typical ROI: 70% to 80%, plus 15% to 25% annual energy savings
Upgrading to energy-efficient windows offers multiple financial benefits. First, they can reduce monthly energy bills by up to 25% in many homes. Second, they can increase overall home value. “Not only do they improve the overall appearance of your home, but they also provide better insulation, making your home more comfortable year-round,” Janet McAfee Real Estate noted.
6. Updated Landscaping
Average Cost: $1,400 to $1,660+
Typical ROI: 5% to 15%
Adding plants, flowers and greenery can significantly improve curb appeal. According to OneTrust Home Loans, landscaping can “skyrocket the curb appeal of your home, especially if it’s in front of your house.” The firm recommends choosing low-maintenance options, such as mulch and drought-tolerant plants, which can also help reduce ongoing water costs.
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This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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