With its many benefits ranging from enhanced curb appeal to protection from the elements, it’s no surprise that exterior painting is one of the most popular home improvement projects. But before starting this endeavor, it’s important to consider the benefits and drawbacks to make sure it that fits your abilities, schedule, and budget.

Pros

Even if your home is in good shape, peeling paint, faded sections, or an outdated color can still make it feel a bit rundown. Giving it a fresh coat with a well-chosen color is one of the simplest and most affordable ways to instantly improve its curb appeal and make it feel like new again. This could be the perfect opportunity to jump on design trends, such as using soft neutrals like gray or navy as your primary base and accent colors on the trim. Imagine the joy you’ll get every day coming home to the soothing vibe of sage-green siding offset by complementary white window frames.

The benefits of painting your house go further than just aesthetic appearance, however. High-quality options can provide a general barrier against weather damage and more, with certain brands offering specialized protection as well. For instance, some include UV inhibitors to keep the paint from fading or peeling due to sun exposure—a great solution for those in areas that receive a lot of direct sunlight. Meanwhile, paints that contain mildew-resistant chemicals are ideal for places that experience excessive rain or high humidity. And there are even ones designed to create a dust-proof coating or repel pests like termites.

Additionally, the expense of taking on this project yourself is surprisingly lower than you might think. Including the paint and prep, the total cost generally falls between $500 and $2,400 depending on the size of your house. This is a fraction of the price of other renovation projects. Even better, a well-done paint job can yield homeowners looking to sell in the near future an over 50 percent average return on investment, making this option a smart financial move.

Cons

While opting to handle the painting on your own can be cost-effective, it does demand a lot of time and effort. You will need to conduct careful preparation, including cleaning, scraping, and repairing any current damage, as well as potentially rent scaffolding or ladders if your house is tall or has multiple stories. And once you finally have your exterior ready to go, the actual painting can be a time-consuming task, requiring careful application and several coats for a perfect finish.

On top of that, one of the most important factors to consider is that there is such a thing as a job not well done: even after all your hard work, you may wind up experiencing regrets or errors. For instance, you could get halfway done only to realize the color looks strange in the sunlight, forcing you to start from scratch again. Or you may accidentally choose improper paint for your house’s siding or your region’s elements, leading it to bubble or peel away within months.

Of course, you can avoid a lot of hassle and potential issues by hiring a professional, who can help guide you through the process and better ensure excellent results. However, this can also run your bill up quite a bit—you can expect to spend an average of $5,000 to $9,000 on labor for a 2,500-square-foot home. The investment may well be worth it for the stress it takes off your plate and the greater guarantee of top-quality results, but it’s still an important consideration for your budget.

Regardless of which route you take, you’ll have to face a certain level of inconvenience. Laying out the necessary mats, ladders, and other equipment could create tripping hazards, and if you decide to hire a professional service, there will be workers around all sides of your home for the duration of the project. Plus, if your home has an HOA, it will likely need to approve the color you choose—starting without this OK could incur a fine, and you may be required to repaint.

While painting your home can add elegance, protection, and value, there are also potential downsides to consider. Whether you’re thinking of handling the project yourself or calling on experts, you’ll want to assess all the relevant factors and engage in careful planning to ensure that you get an end result you can enjoy for years to come.