A more attractive front entrance can increase the perceived market value of a home by a significant amount, according to a new survey conducted by TNS, an independent research organization.
More than 2,400 consumers nationwide estimated home prices for residences based on the homes exterior appearance. The study found that an enhanced entryway could add as much as $24,000 to a homes perceived value-as much as five times the cost of a new system. The study showed that an upgraded entryway added about 4.1% in the under- $200,000 price range, or about $7,720, moderately priced homes also benefited from improved entryways, according to an earlier study conducted by the company.
The respondents viewed images of homes and were asked to estimate their values, One group looked at images of homes with standard six-panel doors, while another viewed homes with upgraded entry systems that included decorative glass, sidelites and transom, Both groups also viewed "control" homes to adjust for possible sample differences.