May 27, 2024
Zonda Releases 2024 Cost Vs Value Report
Zonda Releases 2024 Cost Vs Value Report

Housing market research company Zonda Home published its 37th annual Cost vs. Value report detailing the most common home renovation projects across the nation ranked by return on investment values. This year’s report upholds a multi-year trend establishing exterior home improvement projects as more valuable than larger interior projects.

Top cost versus value: National averages

  • Garage Door Replacement | Cost $4,513 | Value at sale $8,751 | 194% ROI
  • Steel Entry Door Replacement | Cost $2,355 | Value at sale $4,430 | 188% ROI
  • Grand Entrance – Fiberglass | Cost $11,353 | Value at sale $11,054 | 97% ROI
  • Window Replacement – Vinyl | Cost $21,264 | Value at sale $14,270 | 67% ROI
  • Window Replacement – Wood | Cost $25,799 | Value at sale $16,222 | 63% ROI

This year’s top three projects, which have been consistently ranked among the highest valued projects in years past, have remarkably high return values – with garage door replacement at 194% ROI, steel door replacement at 188% and manufactured stone veneer at 153%. This year’s report shows a significant surge in project values compared to last year. The top two projects—garage door and steel door replacements—have doubled in value since last year. These returns are the highest found in the history of the Cost vs. Value report, a result due to the unique nature of today’s housing market combined with higher mortgage rates, and high equity for current homeowners.

What Zonda says

“When it comes to adding resale value to a home, exterior replacement projects continue to make the most sense,” says Clay DeKorne, chief editor, JLC Group of Zonda. “Discretionary projects like an upscale bathroom or kitchen remodel will feel valuable to those who make the selections but won’t provide nearly as much return to sellers.”

“This shift in [Cost vs. Value] between categories is fascinating,” says Todd Tomalak, principal, building products advisory, Zonda. “It mirrors a broader underlying disconnect we are seeing between remodel segments in 2024, driven in part by differences in homebuyer activity.”