Your home is not just a place to live; it’s an investment. And like any investment, you want to ensure it appreciates in value over time. One way to increase your home’s value and curb appeal is by considering exterior restucco. But before you embark on this renovation journey, it’s crucial to understand the potential return on investment (ROI) and whether it’s worth the expense.
In this article, we’ll explore the average ROI on exterior restucco projects and help you decide if it’s a sound investment for your home.
What is Exterior Restucco?
Stucco is a popular exterior finish for homes, known for its durability and timeless appeal. Exterior restucco involves applying a new layer of stucco over the existing exterior or replacing old stucco with a fresh application. This process can rejuvenate the appearance of your home, fix any existing issues, and even enhance energy efficiency when combined with proper insulation.
Factors That Affect ROI on Exterior Restucco
The return on investment for exterior restucco can vary significantly depending on several factors:
1. Regional Location
The location of your home plays a significant role in determining ROI. In regions with extreme weather conditions or areas with high humidity, exterior stucco can perform exceptionally well, making it a more attractive option for potential buyers.
2. Quality of Workmanship
The quality of the stucco application is crucial. Hiring experienced professionals to do the job is essential to ensure that the stucco is applied correctly, preventing future problems that could impact the ROI.
3. Type of Stucco
There are different types of stucco available, including traditional cement-based stucco and synthetic stucco (EIFS). The choice of stucco can impact both the cost of the project and the overall ROI.
4. Current Condition of Your Exterior
Real estate market conditions at the time of selling your home can influence the ROI. In a hot seller’s market, a well-done stucco exterior can be a strong selling point, potentially increasing the resale value.
5. Market Conditions
If your existing stucco is in poor condition, exterior restucco can offer a more significant ROI as it can address issues like cracks and water damage, improving the overall structural integrity and appearance of your home.
The Average ROI on Exterior Restucco
While the ROI on exterior restucco can vary, a general estimate suggests that homeowners can expect a return of approximately 70-80% of their investment. This means that for every $10,000 spent on exterior restucco, you can potentially increase your home’s value by $7,000 to $8,000. However, as mentioned earlier, various factors can influence this figure.
Benefits Beyond ROI
While the financial return is an essential consideration, it’s crucial to remember that there are benefits beyond just the ROI when considering exterior restucco:
1. Enhanced Curb Appeal
A beautifully stuccoed exterior can make your home stand out in the neighborhood, increasing its attractiveness to potential buyers.
2. Improved Energy Efficiency
When combined with proper insulation, stucco can improve your home’s energy efficiency, leading to potential savings on utility bills.
3. Reduced Maintenance
Stucco is relatively low maintenance compared to other exterior finishes, reducing the time and money you’ll need to invest in upkeep.
4. Increased Durability
Stucco is known for its durability, offering protection against various weather conditions and potential damage.
Conclusion: Is Exterior Restucco Worth It?
In the world of home renovations, exterior restucco is a worthwhile investment for many homeowners. While the average ROI of 70-80% is promising, the other benefits, such as enhanced curb appeal, energy efficiency, reduced maintenance, and increased durability, add significant value to your home.
However, it’s essential to conduct thorough research, obtain multiple quotes from reputable contractors, and consider the unique factors affecting your home and location before deciding. In many cases, the value you gain from exterior restucco goes beyond dollars and cents, turning your house into a more comfortable and visually appealing home that you can enjoy for years to come. So, if you’re looking to improve your home’s exterior, exterior restucco is certainly worth considering as an investment in your property’s future.
Also, here at Builder Boy we offer services such as New Stucco Installation, Re-Stucco, Stucco Repair & More. We have been in business offering stucco services for over 20 years. We are experts at the ins and outs of how to apply stucco. And we are proud to be recognized also as Stucco Boy – a leader in three-coat stucco installation, stucco repair, waterproofing and lathing stucco. Ready to work with us for your exterior restucco project? Request for a free estimate now.