Remodeling Archives - Westlake Royal Pros Blog

March 1, 2023

Exterior Remodeling Projects Deliver Greatest Return on Investment, Study Says

Royal Siding, vinyl siding remodeling ROI

Before embarking on a remodeling project, whether large or small, most homeowners ponder not just their design preferences and lifestyle needs, but whether the renovation will add value to their home. Today’s Homeowner with Danny Lipford sought to bring clarity to the question with a recent study that looked into the return on investment of common remodeling projects. The data show that, resoundingly, exterior remodeling and renovation projects deliver the largest return, with garage doors leading the way.

Industry experts continue to tout the strength of the remodeling market, as homeowners elect to renovate their existing houses rather than navigate high interest rates and low inventory for new homes. “With Americans spending more time at home than ever, the total amount spent on renovations and upgrades soared by nearly 27% between 2020 and 2022,” Today’s Homeowner said.

But with material and labor costs also high, understanding which projects provide the most value is more important than ever.

The study examined data from 70,000 homes in more than 1,200 markets, analyzing the cost versus value recouped for 34 different project types. Today’s Homeowner found that the average return for all projects is 69%. But the average cost recovered for exterior remodeling projects is 23% higher than interior projects; in fact, the top 10 projects reaping the best ROI were on the exterior.

“Curb appeal really matters when selling your home,” Realtor Suzanne Coddington, of Dickens Mitchener, told Today’s Homeowner. “It’s difficult to get buyers to see a home that has little or no curb appeal.”

Garage door replacement was the only project category to reap a full 100% return on investment, followed by wood window replacement (95.5% cost recovery), screened-in porch addition (92.9%), fiber cement replacement (92.7%), and vinyl siding replacement (91.0%) and vinyl window replacement (91.0%).

“When considering new siding, look for high-quality, low-maintenance materials,” Steve Booz, Vice President of Marketing & Product Management for Westlake Royal Building Products, advised the Today’s Homeowner audience. “Some products offer insulation or locking seams for increased energy efficiency. And don’t be afraid to play with color, texture, different profiles, and contrasting trim — siding can be beautiful as well as functional.”

The remaining projects in the top 10 comprised an in-ground pool (90.1%), composite deck addition (86.9%), concrete backyard patio (86.4%), and wood deck addition (80.1%).

To view the full study results and expert commentary, click here.

Looking to elevate your exteriors with high-ROI materials? Browse Westlake Royal Building Products’ extensive selection of vinyl siding and accessories.

November 23, 2022November 23, 2022

What Awaits the Remodeling Market Into 2023?

The current state of the new-home economy tends to lean toward the bleak, with falling housing starts and declining builder confidence. But the remodeling market may be feeling the challenges a bit less. Though spending slowdowns are happening or anticipated, various indicators point to homeowners investing in their current houses and continuing with project lists begun during the pandemic.

The Joint Center for Housing Studies of Harvard University (JCHS) is predicting a steady downturn in home improvement spending throughout the next year, Pro Remodeler reports, with year-over-year spending expected to grow just 6.5% in Q4 2023 versus an anticipated 16.1% growth in Q4 2022. Factors driving these expectations include a drop from unsustainable growth during the pandemic, higher interest rates, and higher prices for materials and labor.

Despite these contractions, reports from the field paint a picture of continued, if more measured, investment in the remodeling market, both DIY and professional.

The U.S. Remodeler Index by John Burns Real Estate Consulting dropped from 65.7 in Q2 2022 to 62 in Q3, but remains above the index’s growth indicator line of 50. Among the report’s key takeaways, Qualified Remodeler said, is a 4.9-month average backlog among remodelers, with 56% of survey respondents having at least four months of in-progress or planned projects. Supply chain issues are improving, remodelers said, but most also said that customers are downgrading to stay on budget amid pricing concerns.

Lowe’s also conducted a survey of home improvement professionals. The Pro Pulse Survey found that pros remain optimistic despite challenges, and 73% of respondents expect to have more work next year than this year.

Homeowners Invest in Existing Houses

In a recent study of 4,000 homeowners by Houzz, only 1% of homeowners have canceled remodeling projects so far in 2022 and 23% plan to start a project in the next 12 months. “For many, conditions like limited choices of available homes and rising interest rates are driving them toward renovations and improving their current home, since the cost of moving into a house that fits their current needs has become so expensive,” said Marine Sargsyan, Houzz staff economist. “Moreover, more than half of the homeowners we surveyed have no intention of selling or moving out of their current residences in the next 20 years — or ever.”

Exterior updates and “bringing the outdoors in” were among the projects taking priority.

The Houzz study also found that 91% of homeowners planning remodels plan to hire a professional. Though the report didn’t indicate, this could be due to some DIYers reaching the end of their pandemic to-do list of items they can perform themselves.

With some positive indicators, it’s perhaps no surprise that both Lowe’s and The Home Depot are “faring better than expected,” according to CNBC. “Home Depot financial chief Richard McPhail pointed to an ‘improve in place’ mentality among current homeowners, who might have wanted to sell but changed their minds because they could no longer command top dollar,” the website reported.

That’s reflected in the NAHB’s recent forecasts, as well. “The growth rate for improvement spending will slow due to declines for existing home sales,” Robert Dietz, NAHB’s chief economist, told CNBC. “However, an aging housing stock, work-from-home trends, and a decline for household mobility all favor remodeling spending.”

May 23, 2022June 25, 2022

Cost vs. Value Report: Exterior Projects, Including Manufactured Stone Veneer, Deliver Most ROI

Versetta Stone manufactured stone siding

Once again, exterior projects continue to deliver the best return for homeowners’ investment, according to Remodeling 2022 Cost vs. Value Report. Within that, manufactured stone offered the second-best ROI.

The 35^th annual study by Remodeling compares the average costs of 22 remodeling projects with the value those investments will retain at resale. Nine of the top 10 projects delivering the best return were exterior, with manufactured stone taking the second spot, with 91.4% ROI, behind only garage doors (93.3%). Vinyl siding also performed well, with the fifth-best return of 67.2%.

For manufactured stone, the study looked at the cost recouped from replacing a 300-square-foot band of vinyl siding from the bottom third of a home’s front façade with manufactured stone veneer (such as Westlake Royal Building Products’ Versetta Stone), along with sills, corners, and address block. Manufactured stone’s ROI was slightly lower than last year’s study, which showed a 92.1% return, but was 20 percentage points ahead of this year’s No. 3 project, minor kitchen remodel (71.2% return).

“Despite sharp cost increases in 2021, the decline in overall ROI in the 2022 report was a modest 1.2%, proving the resilience of the remodeling market,” Remodeling magazine said.

The other exterior projects in the top 10 were fiber cement siding replacement (68.3% cost recouped); vinyl window replacement (67.5%); wood window replacement (66.3%); wood deck addition (64/8%); steel entry door replacement (63.8%); and composite deck addition (62.1%).

“‘Curb appeal’ and ‘first impressions’ are strong concepts in real estate because they have a surprisingly big impact on how much money prospective home buyers are willing to pay for a home,” the magazine explained. “Prospective buyers who see a ‘buttoned up’ exterior form the impression that the house is in good shape—or, as we all like to say, ‘has good bones’—and they proceed to fit all the new information they learn once they walk through the front door around these positive impressions.”

Manufactured Stone Delivers Most ROI in Two Regions

When the Remodeling 2022 Cost vs. Value report is broken down geographically, manufactured stone shows similar levels of ROI as on a national level. In two regions, however, manufactured stone delivers the most return among all projects: South Atlantic (Maryland, Delaware, Virginia, North Carolina, South Carolina, Georgia, Florida), with 92.5% ROI, and West North Central (North Dakota, South Dakota, Nebraska, Kansas, Minnesota, Iowa, Missouri), with 93.6% ROI.

Versetta Stone offers remodelers an easy way to leverage the ROI opportunity of manufactured stone. The siding panels provide the beauty and texture of authentic stone masonry in a panelized, mortarless format that can be installed easily by traditional carpenters and siding contractors using nails or screws. Each lightweight panel covers 2 square feet and features a built-in rainscreen. Browse profiles and colors here.

See the full Remodeling 2022 Cost vs. Value Report study and associated trends at www.costvsvalue.com.

May 19, 2022June 25, 2022

Celebrate National Remodeling Month With Helpful Tools & Tips

May is National Home Remodeling Month, the NAHB’s annual celebration that spotlights the remodeling industry, recognizes the expertise of remodeling professionals, and showcases the myriad benefits of hiring a professional remodeler. Westlake Royal Building Products is proud to be a sponsor of the 2022 event.

For National Remodeling Month, the NAHB encourages remodelers to leverage tools and tips to promote the industry through the local press, social platforms, and in-person fairs, seminars, and tours. Available resources include social media posts, web banners, press releases, fact sheets, and other materials, along with government proclamations, customizable educational articles, and op-eds. Get started with their Step-by-Step Guide here, get promotion tips here, or access downloadable promo materials here.

As part of its sponsorship, Westlake Royal Building Products is hosting several events for NAHB members during the month of May, including:

• Shop Talk session featuring Chris “CJ” Johnson, Director – Product & Marketing – Siding, Westlake Royal Building Products, discussing the topic of product warranties.

• Webinar “Addressing Multi-Faceted Needs in AIP & UD Renovations,” May 18, which will address multi-faceted needs in aging-in-place and universal design renovations (Sign up here)

Along with professional tools, the NAHB provides a consumer resources portal, with tips on how to choose a professional remodeler, links to find a remodeler in their community, and design trends.

May 18, 2021May 19, 2021

Cost vs. Value Report: Exterior Products, Manufactured Stone Veneer Deliver Leading ROI

Versetta Stone in Ledgestone Mission Point

Manufactured stone once again has shown its ability to recoup homeowners’ remodeling investment. According to the Remodeling 2021 Cost vs. Value Report, an annual study by Remodeling magazine, manufactured stone veneer offers a 92.1% return on investment. That ROI is second only to garage door replacement.

The Remodeling Cost vs. Value Report compares the average costs of 22 remodeling projects with the value those investments will retain at resale. The study looked at the cost recouped from replacing a 300-square-foot band of vinyl siding from the bottom third of a home’s front façade with manufactured stone veneer (such as Boral Building Products’ Versetta Stone), sills, corners, and address block.

Manufactured stone veneer’s place in the study is slightly down from 2020, where it reached No. 1 with an ROI of 95.6%. Still, manufactured stone was 20 percentage points higher than the third project on the list, minor kitchen remodel.

Along with manufactured stone and garage doors, exterior products dominated the top of the Remodeling 2021 Cost vs. Value Report list, claiming 11 of the top 12 spots: fiber cement siding replacement (69.4% cost recouped); vinyl window replacement (68.6%); vinyl siding replacement (68.3%); wood window replacement (67.4%); wood deck addition (67.4%); steel entry door replacement (65.0%); composite deck addition (63.2%); fiberglass grand entrance (60.9%); and asphalt shingle roof replacement (60.7%).

“The trend of exterior replacements outperforming larger discretionary remodeling projects has been accelerated, no doubt, by a year in which COVID has made people reluctant to have contractors inside their homes, but yearning to improve outdoor spaces,” the Remodeling editors said. “It’s been a year when we’d expect decks to reign supreme, but the data doesn’t track what’s most popular. The Cost vs. Value report tracks the ratio of value over cost for 22 common remodeling projects, and in that ratio lies the rub: Material costs, especially for decking and pressure-treated framing lumber, went through the roof in 2020, bringing down the return despite the project’s value.”

Manufactured Stone Delivers Most ROI in Two Regions

Manufactured stone maintains a similar level of ROI when broken down geographically, with 90% or more of cost recouped across all regions. In two regions, however, manufactured stone came out on top: West North Central (North Dakota, South Dakota, Nebraska, Kansas, Minnesota, Iowa, Missouri), with 94.1% ROI, and South Atlantic (Maryland, Delaware, Virginia, North Carolina, South Carolina, Georgia, Florida), with 94.1% ROI.

See the full study and evaluation of trends at www.costvsvalue.com.

April 30, 2021May 1, 2021

Fine Homebuilding House Remodel Transforms 80-Year-Old New England Home

Each year, Fine Homebuilding magazine constructs a new home, showcasing the latest building science techniques and best practices for exceptional quality, comfort, and style. For 2021, they’re switching things up with their first remodel, transforming an 80-year-old Greenwich, Conn., house with a deep energy retrofit and a dramatic modernization of exterior style and interior layout.

2021 Fine Homebuilding House prior to its remodel and deep energy retrofit. — The Fine Homebuilding house prior to the remodel.

“The Fine Homebuilding editors believe this house has important lessons to offer,” the publication explains. “The existing home was built in the early decades of the 20^th century and was remodeled with an addition about 20 years ago. Transforming the layout and look of this traditionally styled, shingled house to a modern home with a much more open floor plan and a Scandinavian-inspired aesthetic will provide design insights as well as lessons about framing, trim, and plumbing. Because the new homeowners have placed a priority on turning the house into a high-performance home, we’ll also get to see how the team tackles air-sealing, insulation, and mechanical systems to reach net-zero energy with Passive House performance.”

On the exterior, the home is clad in TruExterior Shiplap siding, installed vertically with some horizontal boards on the gables, and finished with Benjamin Moore’s Glacier White paint for a perfect Modern Farmhouse look. TruExterior also was used for the porch ceiling, in the reversible Shiplap-Nickel Gap siding profile with the smooth finish.

A rendering of the 2021 Fine Homebuilding House project, which includes TruExterior Siding — A rendering of the post-remodel Fine Homebuilding House.

“It’s very easy to install,” says the project’s builder, Albert Jensen-Moulten. “It cuts and glues just like wood.”

Several walls feature Eldorado Stone masonry veneer installed over a fluid-applied weather-resistive barrier. Other exterior details include a standing-seam metal roof, metal triple-pane windows, Hemlock-wrapped porch beams, and Kebony wood lintels.

Take a tour of the exterior cladding details via an interview with Jensen-Moulten and the architect, Elizabeth DiSalvo:

Follow along with the Fine Homebuilding House to learn more about the highly efficient building techniques, from air barriers to double-stud walls, on the show home’s website.

February 25, 2020February 25, 2020

Cost vs. Report: Manufactured Stone Brings Largest Return on Investment Among Remodeling Projects

Remodelers and homeowners seeking the biggest bang for their buck will find it with manufactured stone veneer, according to the Remodeling 2020 Cost vs. Value report.

The annual Cost vs. Value Report examines which remodeling projects deliver the highest perceived return in resale value. In 2020, manufactured stone (such as Boral Building Products’ Versetta Stone), was the retrofit project with the highest ROI at the national level—95.6%, an increase from 94.9% last year. The only other project with an ROI in the 90% range was garage door replacement, coming in second at 94.5%.

The 95.6% ROI for manufactured stone is based on replacing a 300-square-foot continuous band of existing vinyl siding from the bottom third of the street-facing façade with manufactured stone veneer, sills, corners, and address block, along with outlining the entry archway and adding a keystone and a soldier course on either side.

Manufactured stone also offered the highest ROI of all categories in five out of nine regions: Pacific (Alaska, Washington, Oregon, and California), with a whopping 119.5% return; Mountain (Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, and New Mexico), with a 100.0% return; South Atlantic (Maryland, Virginia, West Virginia, North Carolina, South Carolina, Georgia, and Florida), at 94.0%; West South Central (Texas, Oklahoma, Arkansas, and Louisiana), at 91.1%; and East North Central (Wisconsin, Michigan, Illinois, Indiana, and Ohio), at 88.0%.

Exterior Facelifts Continue to Deliver

As with the 2019 report, the 2020 Cost vs. Value study found that exterior projects dominated all others, capturing nine of the top 10 spots for ROI. Following manufactured stone and garage door replacement, those projects comprised fiber cement siding replacement, vinyl siding replacement, vinyl window replacement, wood deck addition, wood window replacement, steel entry door replacement, composite deck addition, and asphalt roofing replacement. Only minor kitchen remodels ranked as high, at 77.6%.

“The reason for high returns on exterior projects, and especially façade facelifts, stems from the valuations set by the real estate community,” Remodeling reported. “In order to make the best use of the Cost vs. Value tool, a remodeler has to think like a real estate broker. ‘Curb appeal’ and ‘first impressions’ are central to a real-estate professional’s estimation of resale value. Granted, a home’s exterior will only persuade potential buyers to see more, and first impressions can vary from one individual to the next. But the impact these impressions make is critical in setting the stage for what a buyer is willing to pay for a home.”

To read more analysis and see results, including those broken down to metro area, visit the Remodeling 2020 Cost vs. Value portal on Remodeling’s website.

October 31, 2019May 7, 2020

Restoring a Porch to Its Gothic Glory

When Marc Brahaney, owner of Lasley Brahaney Architecture & Construction, began remodeling his own home, an 1870s Gothic Revival, he knew preserving its unique character would be essential. In an article in a recent issue of The Journal of Light Construction, Brahaney detailed how he meticulously restored the home’s front porch to its original design using TruExterior poly-ash material.

Gothic porch restoration with Boral TruExterior

“From the outset, I knew replicating the porch’s original moldings and trim would be a challenge; some of the Gothic-inspired shapes I needed were fairly large and chunky,” Brahaney told the magazine. “Reproducing them from rot-resistant wood (plastic products were not an option) would be difficult and expensive, so I reached out to Keith Coleman of DURATION Moulding & Millwork. Duration specializes in milling and siding from Boral [TruExterior] stock (a poly-ash material resistant to both moisture and termites). … After speaking with Keith, I concluded that milled Boral would be the best product to use, both for durability and to match the home’s unique trim work.”

Gothic porch restoration, before-and-after columns

DURATION crafted numerous elements of the porch using Boral TruExterior, including the columns, pilasters, decorative scroll work, crown, custom fascia, and dentil fascia. DURATION’s expertise in creating historically accurate profiles ensured the house maintained its landmark status while upgrading to a more durable material.

Elsewhere on the home, DURATION Moulding & Millwork also fabricated massive 5- to 6-inch window sills and two-piece casing to replicate the home’s original window trim.

Gothic porch restoration, Boral TruExterior columns

DURATION Moulding & Millwork works exclusively with TruExterior. The material offers workability similar to wood, providing versatility to produce or replicate nearly any standard and custom design. Its authentic appearance ensures an accurate look suitable for even the most discerning historical projects.

To learn more about Brahaney’s and DURATION’s approach to this unique remodel, read the Journal of Light Construction article here.

Learn more about TruExterior Siding & Trim here.

June 22, 2019June 22, 2019

Two Simple Updates Give 1960s Ranch Home a Dashing New Look

Boral Building Products Vantage board-and-batten shutters

When lifestyle blogger Maggie Kern bought her 1960s ranch home in Charlotte, N.C., its old red-orange brick and rotting teal shutters simply didn’t suit her style. “I like everything clean and simple with a Boho flair to it,” she says. With an active toddler underfoot, Kern needed a fast, easy fix that better fit her aesthetic. To freshen up the façade, she paired new shutters and paint in a pretty mix.

A Clean Slate
To create a light, modern underlay, Kern, the blogger behind Polished Closets, first had the home’s entire exterior painted white. “With a white background, you can change up the accessories to keep a simple feel with added interest,” she says. Classic black dresses up the ironwork and gutters while also creating contrast. The deep emerald green of the front door was inspired by the color of her grandmother’s door when she was growing up.

Photo by Boral Building Products – Discover home design design inspiration

A tried-and-true Southerner, Kern wanted shutters both to keep to the local architectural aesthetic and to infuse a pop of personality. “I think shutters add a cool design detail to any house—they can really change the look and feel,” she says.

Though most of their neighbors had open-louver or raised-panel styles, she and her husband, Neil, chose pre-colored Vantage board-and-batten shutters with spacing. “It’s fun to peek through the boards and see the [home’s] paint underneath,” Kern says.

Photo by Boral Building Products – Discover home design design inspiration

Made of easy-care PVC with a wood-grain effect, the shutters shouldn’t crack, peel, or fade. “I already have too many things to maintain in my life—this is one less thing to worry about,” she says.

Painless Process
From start to finish, the work took a week. Professional painters from Beyond the Paint in Waxhaw spent three days prepping and painting the exterior. The next Saturday, Kern had the shutter company help with the shutters, though she was able to do most of the installation herself.

Since the shutters were surprisingly lightweight, Kern lifted them into place to align with the brickwork. She then drilled holes through the shutters and into the mortar between the bricks, hammered in matching fasteners, and hung the shutters. “It was so easy,” she says. Putting up nine sets of shutters took just a few hours.

Seamless Style Throughout
Inside the home, black accents, flashes of emerald, and a clean, airy white palette happily harmonize with the exterior. “It looks nice and clean and modern outside, then you walk in and it feels the same,” Kern says. Warm wooden furniture beckons people to sit a spell, cats Gracie and Olive lounge lazily in sunny spots, and tall plants wave their fronds pleasantly at guests.

The End Result
These days the house presents a crisp and cheerful face to the street. “It now makes a good first impression,” Kern says. The paint gleams and, thanks to their durable material, the shutters still look bright. “It’s always the details that make a whole look come together. And the shutters were the perfect finishing touch.”

January 31, 2019February 4, 2019

Cost vs. Value Report: Manufactured Stone Veneer, Siding Projects Offer High Returns

Remodelers and homeowners can once again count on exterior stone and siding to provide a solid return on investment, according to Remodeling magazine’s 2019 Cost vs. Value report.

An annual survey released in January, the Cost vs. Value report provides insights into which remodeling projects deliver the highest perceived return in resale value. Manufactured stone veneer, such as Boral Versetta Stone^® stone siding, continues to be a safe bet, with a 94.9% recoup of investment at the national level. Though this is a small drop from last year, manufactured stone veneer ranks second-highest in ROI, after garage doors.

Boral Versetta Stone manufactured stone veneer Cost vs. Value report — Manufactured stone veneer, such as Versetta Stone in this Ledgestone profile, offers the second-highest return on investment for remodeling projects.

The 94.9% ROI for manufactured stone veneer is based on replacing a 300-square-foot continuous band of existing vinyl siding from the bottom third of the home’s front façade and replacing it with adhered manufactured stone veneer, sills, corners, and an address block, along with an entry archway with keystone and soldier course of flats on each side.

As in 2018, manufactured stone veneer offered the highest returns in the Pacific region (Washington, Oregon, California, Alaska, and Hawaii), at 110.4%. Returns were also particularly high in the East South Central region (Alabama, Mississippi, Tennessee, and Kentucky), at 107.7%.

Manufactured stone veneer offered the highest ROI out of all categories in the East South Central, South Atlantic (91.4%), West North Central (93.5%), and West South Central (98.3%) regions.

Exterior Investments Deliver Biggest Paybacks

Siding overall finished strongly, as well, with a fifth-best return on investment at 75.6%, just shy of the 76.7% recoup in 2018. In fact, out of the 10 projects with the highest returns, nine were exterior categories, including a wood deck addition, steel entry door replacement, vinyl window replacement, a fiberglass grand entrance, wood window replacement, and a composite deck addition.

“The reason for high returns on exterior projects, and especially façade facelifts, stems from the valuations set by the real-estate community. … ‘Curb appeal’ and ‘first impressions’ are central to a real-estate professional’s estimation of resale value,” Remodeling says. “The impact these impressions make is critical in setting the stage for what a buyer is willing to pay for a home.”

What’s more, projects like kitchen and bathroom renovations tend to be more individualized, which can mean some buyers may not like the look.

The overall percentage of investment recouped across all categories on average decreased slightly year over year. The magazine attributes the decline to the sharp increase in material costs over the summer, including those driven by tariffs.

To read more analysis and see results down to metro area, visit the Remodeling 2019 Cost vs. Value portal on Remodeling’s website.

January 26, 2018September 4, 2018

Manufactured Stone, Siding Replacement Deliver High Returns for Remodels

For remodelers and homeowners looking to maximize return on investment, manufactured stone veneer is a safe bet, according to the Remodeling 2018 Cost vs. Value report. In the annual study, materials such as Boral Versetta Stone^® offered 97.1% payback on investment at the national level, second only to garage doors. Exterior facelifts overall also proved high in value.

Published in January, the Cost vs. Value report is an annual survey from Remodeling magazine that offers insights into which remodeling projects deliver the highest perceived return in resale value.

The measurement for manufactured stone veneer is based on replacing a 300-square-foot continuous band of vinyl siding from the bottom third of the front of the home and replacing it with manufactured stone veneer, sills, corners, and an address block. This year’s 97.1% perceived ROI is an increase over 2017’s report, where the material offered an 89% return.

On a regional level, manufactured stone veneer offered the highest returns, of 125.5%, in the Pacific region (Washington, Oregon, California, Alaska, and Hawaii).

Versetta Stone, Manufactured Stone Veneer, Mortarless Stone Veneer, Ledgestone — Versetta Stone mortarless stone veneer in the Ledgestone texture and Plum Creek color.

Overall, exterior projects are paying off, as well. “Except for the minor kitchen remodel, work done on the exterior of the house generated higher returns than did interior renovations,” the magazine stated.

Indeed, exterior projects made up seven of the 10 projects with the highest returns. Among those was siding replacement, which took the fifth spot with a national average of 76.7% cost recoup, up just a hair from 2017’s report.

Regionally, the Pacific again posted higher returns in the siding category, at 86.6%. ROI was also above average in the South Atlantic (82.2%) and New England (80.2%) regions.

Other highlights from the report:

Compared to previous years, upscale and large projects declined in value. “Growing concerns nationwide about affordability could be leading real estate pros to question moves that would make a house even more expensive at resale than it is now,” the magazine speculated.
Overall, average payback of the 20 common projects in 100 major markets declined, from 57.9% to 56.8%. Remodeling magazine attributes this to rising costs across all 20 projects versus values increasing in just two-thirds of the projects. The magazine expects that trend to continue this year, with high demand from hurricane and fire recovery keeping prices higher.
As indicated in the two siding categories above, tech regions in the West, where inventory is low and housing prices have skyrocketed faster than national averages, are reporting higher returns than most others. “Real estate professionals in Silicon Valley rated 17 of our 20 projects as likely to generate more in resale value than project cost if the home where the work occurred was sold within a year,” Remodeling said. “The same was true for 12 projects in San Francisco and the North Bay market of Santa Rosa and for six projects in Seattle.”

Ready to help your customers get more value out of their remodel? Learn more about Versetta Stone mortarless manufactured stone veneer and TruExterior Siding & Trim.

To read more analysis and see results down to metro area, visit the Remodeling 2018 Cost vs. Value portal on Remodeling’s website.