Cost vs. Value Report by Hanley Wood Details 22 of the Most Compelling Remodeling Projects Across the Nation – Yahoo Finance

Garage door replacement among highest return on investment

REMODELING Magazine released its 33rd annual Cost vs. Value Report that found exterior improvement projects yield the greatest return on investments. In fact, nine of the 10 leading investments were exterior home improvements, with the exception of a minor kitchen remodel. The leading returns were primarily siding, doors or decks.

"As in years past, the national averages for exterior replacements outperformed those of larger discretionary remodeling projects," said Clayton DeKorne, Editor-in-Chief of REMODELING Magazine. "Exterior facade facelifts improve the curb appeal and makes a great first impression as buyers approach the home, that translates to real dollars at the closing table which is why we see such tangible returns on that investment."

According to the 2020 report, the overall cost-to-value ratio stands at 63.7%, down from last year, and well below the decade-high of 71.2% in 2014. As in prior years, there are significant variations in return in different regions. The average regional payback for the 22 projects in the 2020 Cost vs. Value Report ranges from a high of 132% for a garage door replacement in the East South-Central region to a low of 40% for an upscale master suite addition in the same region.

The 2020 report surveyed nearly 1,400 full-time real estate professionals, each with a network of more than 100 consumers, about returns for 22 home improvement projects in more than 100 U.S. markets.

Top Ten Cost vs. Value: National Averages

Rank

Remodeling Project

Job Cost

Value atSale

CostRecouped

1

Manufactured Stone Veneer

$9,357

$8,943

95.6%

2

Garage Door Replacement

$3,695

$3,491

94.5%

3

Mid-range Minor Kitchen Remodel

$23,452

$18,206

77.6%

4

Fiber-Cement Siding Replacement

$17,008

$13,195

77.6%

5

Vinyl Siding Replacement

$14,359

$10,731

74.7%

6

Vinyl Window Replacement

$17,461

$12,761

72.3%

7

Wood Deck Addition

$14,360

$10,355

72.1%

8

Wood Window Replacement

$21,495

$14,804

68.9%

9

Steel Entry Door Replacement

$1,881

$1,294

68.8%

10

Composite Deck Addition

$19,856

$13,257

66.8%

Principle takeaways from the 2020 Report:

To see the geographic cost vs. value averages and get more information on the survey results, visit http://www.costvsvalue.com.

About Hanley Wood

Hanley Wood, represents the housing industrys leading provider of rich data, backed by Zonda and Metrostudy, and the industrys top advisors for residential real estate development and new home construction. With products and services geared for homebuilders, multifamily developers, lenders, and financial institutions, we provide innovative solutions to maximize opportunities in today's real estate development landscape.

Hanley Wood, Meyers Research, Zonda, Metrostudy and the company logo, are trademarks of Meyers Research, LLC and/or its subsidiaries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200121005901/en/

Contacts

Media Contact Alyson AustinEmail: alyson@gaffneyaustin.com Phone: 949-403-0484

Read more from the original source:
Cost vs. Value Report by Hanley Wood Details 22 of the Most Compelling Remodeling Projects Across the Nation - Yahoo Finance