You've probably heard the phrase “first impressions matter, and that's true, especially when selling a home. According to a study conducted by Michigan State University, a home with a landscape design and reduced effort on sight can increase the perceived value of a home by 5 to 11%. Curb appeal can also sell a house faster. Homes with great curb appeal have higher prices and take less time to sell.
But which projects increase outward appeal the most? These are financially smart ways to increase your home's net worth. Nothing looks worse from the sidewalk and sets off subconscious alarms, such as hanging gutters, the lack of bricks on the front steps, or peeling paint. If you're selling your home, adding curb appeal can increase the value of your home by 3% to 5%, according to Consumer Reports. A look at the models side by side easily shows how much the table and stone add to the curb appeal.
If you're a developer, you can increase the value of an entire neighborhood with proper exterior appeal planning at the front. Investing time and money in the interior is important, but it will be worth improving its external appeal to attract potential buyers. There's not much to see from the outside and the owner has to do himself a big favor by improving the curb appeal. In a recent study published in the Journal of Real Estate Finance and Economics, researchers at the University of Alabama and the University of Texas at Arlington used deep learning and Google Street View to determine the extent to which external attractiveness contributes to the value of a home.
Your curb appeal should begin with the condition of the grass, landscape, and any other foliage near the front of the property. Well-landscaped homes can sell between 5.5% and 12.7% more than other similar homes, and studies show that they can also add up to 28 percent to the total value of your home. Unfortunately, a poor curb appeal could lead some buyers to avoid seeing a property that is for sale. Exterior appeal refers to the level of attractiveness one can feel for a property when viewed from the street.
Robert Johnson, founder of Sawinery, says that “external appeal is an essential part of creating value in a home. If a property looks the worst in a neighborhood, buyers may hesitate compared to other, more attractive listings. To assess the curb appeal of your home, look at the front of your home and consider it from the perspective of someone who is seeing it for the first time.