I’m sharing the findings of a study on curb appeal and how critical it is to a home’s value.
There was a recent study published in the Journal of Real Estate Finance and Economics in which researchers crafted algorithms to find out exactly how much curb appeal contributes to a home’s value when it’s sold. After a lot of calculations, they found out that a house with excellent curb appeal sold on average for about 7% more than similar properties that had poor curb appeal in the same neighborhood. Some of the premiums actually rose as high as 14%.
Specifically, they looked at things like clean gutters, raked leaves, a mowed lawn, removed weeds and dead plants, and planting new flowers. Simple upkeep can make a large difference! The cost of these things is fairly minimal, but the first impression they leave is lasting.
Our team has also noticed that repainting a home provides a great return on investment and helps sell homes for more. Make sure the windows and front door are clean, and if you have outdoor furniture, set it up in the backyard so it looks like people are ready to sit down and enjoy the space. Buyers will be able to picture themselves enjoying the yard as well as the inside of the home.
If you have any questions about curb appeal or real estate in general, you can always call or email us. We would love to help you.