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They say you never get a second chance to make a first impression. In real estate, that first impression starts at the curb. From a freshly mowed lawn to a well-kept walkway, a home's exterior can instantly shape a buyer's perspective before they ever step inside.

That's especially important in Dallas-Fort Worth's current housing market, where supply outpaces demand. That's why Sriram Villupuram, associate professor in the Department of Finance and Real Estate and the director of the Ryan-Reilly Center for Urban Land Utilization at The University of Texas at Arlington, has studied the financial power of curb appeal. His study was published in .

His research shows that homes with strong curb appeal—tidy landscaping, well-maintained exteriors and an inviting entryway—sell for an average of 7% more than comparable homes in the same neighborhood.

"Everybody intuitively knows curb appeal matters, but nobody had quantified it," Dr. Villupuram said. "When you can point to a number, it helps both buyers and sellers understand the trade-offs. A well-kept exterior signals that the inside has been cared for too, which reduces the risk for buyers."

The study found that the curb-appeal effect is especially pronounced in slower markets. During the 2008 financial crisis, for example, the premium for curb appeal jumped to 10–11% as buyers gravitated toward homes that stood out from neglected foreclosures. With today's elevated housing inventory in North Texas, curb appeal again plays a key role in selling a home.

Beyond higher sales prices, curb appeal also helps transactions close. Nearly one in five home contracts in DFW falls through, often because buyers discover issues during inspection and walk away, Villupuram said.

"A neglected yard or exterior makes buyers wonder what else hasn't been maintained—the HVAC, the foundation, the roof," he said. "That first impression matters."

The implications extend beyond homeowners. Real estate agents are becoming more selective about the listings they take, and a robust home-maintenance sector benefits landscapers, contractors and service providers. Investors, too, see curb appeal as a marker of lower risk when purchasing properties to rent or resell.

"Whether it's being viewed by a seller trying to get top dollar or an investor looking for a stable property, the outside of a home tells a story," Villupuram said. "And the data shows it's a story worth about 7% of the property's value."