Each year, Remodeling Magazine publishes its Cost Vs. Value Report to update the resale value of various common home improvement projects. The site compares average costs for remodeling projects with the value those projects retain at resale in 150 U.S. markets.
We thought this was the perfect opportunity to let our customers know just how much value their window, door, and siding projects will add to their homes when it comes time to sell. You can use this to decide which project you should invest in first (considering your future plans to stay or sell) and also decide if it makes sense financially to do so. Curb appeal can help your home sell faster, so don’t forget to consider that in your decision.
NOTE: For our purposes, we took snapshots of the charts to include the costs for windows, doors, & siding only. For all 23 remodeling projects, visit their website to see the full list at 2024 Cost Vs. Value Report.
Understanding the ROI of Home Improvement Projects
Knowing the return on investment (ROI) of a home improvement project is helpful for several reasons:
Financial Planning: Understanding the potential ROI helps homeowners make informed decisions about where to allocate their renovation budget. It allows them to prioritize projects that are likely to provide the highest return, thus maximizing the value of their investment.
Budgeting: ROI information helps homeowners set realistic budgets for their home improvement projects. They can ensure they’re not overspending on renovations that won’t yield a significant return.
Resale Value: For homeowners planning to sell their property in the future, knowing the ROI of various improvements can guide them in choosing projects that will increase the resale value of their home. This is particularly important in competitive real estate markets.
Risk Management: Evaluating the ROI helps homeowners assess the risk associated with a particular renovation project. They can weigh the potential return against the initial cost and ongoing maintenance expenses to determine if the investment aligns with their financial goals.
Prioritization: With limited resources, homeowners can use ROI data to prioritize home improvement projects. They can focus on upgrades that offer the best balance of increased property value and personal enjoyment.
Negotiation: When selling a home, knowing the ROI of recent improvements can be beneficial during negotiations. It provides concrete evidence of the added value these renovations bring to the property, potentially allowing the seller to justify a higher asking price.
Overall, understanding the ROI of a home improvement project empowers homeowners to make strategic decisions that enhance the value of their property while aligning with their financial objectives.
2024 National Averages of Replacement Windows, Doors, & Siding
Since national and regional averages are different, we thought we would give you both, to give you a broad and more precise idea of the value of your project.
As you can see, Fiber-cement siding gives you an 88.4% return on your investment. This chart lists vinyl siding as well, but at All-Weather we don’t carry vinyl siding, so we aren’t reporting on it. Replacement windows yield 67.1% for vinyl and 62.0% for wood. A steel entry door will return 188.1% of your investment! So all are pretty solid investments and will retain much of their value at resale. Now let’s look at regional averages.
2024 Regional Averages of Replacement Windows, Doors, & Siding
Regional ROI can give you an even better idea of what kind of return on your investment you can expect if you are planning to sell your home soon. Here in Kansas, we focused on the West North Central Region which includes Iowa, North Dakota, South Dakota, Missouri, Kansas, Nebraska & Minnesota.
When looking at regional averages, the ROI goes down just a bit. Fiber-cement siding dips from 88.4% to 76.6%. With replacement windows, vinyl is lower at 64.8% down from 67.1% and wood windows go up to 66% from 62.9%. A steel entry door dips from 188.1% to 152.5% which is still a fantastic ROI! So as you can see, windows, doors, and siding are all great investments that will pay off when it comes time to sell your home.
Enjoy the Benefits of New Windows, Doors, & Siding
If you’re staying in your home for a while, you will enjoy all of the benefits new windows, doors, & siding provide – from a more beautiful home to additional comfort to energy savings. Product is not the only reason to choose an installation company. At All-Weather, we also offer excellent customer service, 40 years of happy customers, and an in-house installation crew (we never subcontract). If you’re looking for fair prices on quality products, you can’t go wrong!
