Zonda Media has published the 35th annual Cost vs. Value Report, which reveals exterior replacement projects continue the multi-year streak of delivering the best return on investment for homeowners. Of the 22 remodeling projects in the report, 11 are exterior replacement projects, all of which rank within the top 12 projects. Vinyl windows, wood windows and steel entry door replacement are among the top 10 projects for ROI.
"This reliably confirms the idea that curb appeal still drives the highest prices in home sales," says Clayton DeKorne, editor-in-chief of Remodeling and JLC magazines. "The data consistently shows that buyers of existing homes place high value on two main features – a well-maintained exterior and a workable kitchen. This may stem from the fact that many home buyers are using the bulk of their capital when closing on the house and want some basic assurances for the near future."
A review of yearly trends shows that project costs have continued to rise, with a sharp increase last year due to supply-chain disruptions from the pandemic and complicated global trading tariffs. This drop is very slight, however, compared to the dramatic decreases in returns in 2020, confirming a vast improvement over the dramatic upheaval wrought by the pandemic.
This year's results were determined in part through data collected from surveys of real-estate professionals along with data delivered via Zonda's collaboration with Verisk's remodeling estimating solution, XactRemodel. The data is available for 150 regions covering the U.S. The Cost vs. Value reporting methodology also examines a range of other variables, including local GDP, existing home sales, existing home values, changes in existing home sales and existing home values, even housing starts, among others.
Top Ten Cost vs. Value: National Averages
- Garage Door Replacement, 93% ROI
- Manufactured Stone Veneer, 91% ROI
- Minor Kitchen Remodel, 71% ROI
- Fiber Cement Siding Replacement, 68% ROI
- Vinyl Window Replacement, 67% ROI
- Vinyl Siding Replacement, 67% ROI
- Wood Window Replacement, 66% ROI
- Wood Deck Addition, 65% ROI
- Steel Entry Door Replacement, 64% ROI
- Composite Deck Addition, 62% ROI
