How Much Does Curb Appeal Increase Your Home’s Value?
Your home’s exterior plays an important role in grabbing Buyer’s attention and, ultimately, selling your property; like the old saying goes, “you only get to make a first impression once.” But can curb appeal actually increase your home’s value?
Apparently, it can—and by more than you might expect.
In a recent article, REALTOR® Magazine unpacked data from a study recently published in The Journal of Finance and Real Estate Economics. According to the study, a joint effort from the University of Alabama and the University of Texas at Arlington, homes with high curb appeal sell for an average of 7 percent more than comparable homes with less inviting exteriors. And in real estate markets with higher inventory? That premium doubles to 14 percent.
So what does that mean for you? If you are thinking about selling your home, sprucing up the exterior can be a great way to drive up your property’s value—and drive up your home sale profits in the process.