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Retractable awnings have a life span of around eight to 15 years. This comes down to weather conditions, proper maintenance, and the type of awning material you own.

Most awnings aren’t waterproof, though they may have specific sealants to help with rain and snow. To make your awning waterproof, opt for a weatherproof cover, which costs around $50 to $150.

Awnings tend to increase your home's curb appeal, and homes with higher curb appeal have a better appraisal value than those without one.