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If you’ve ever undertaken a major home improvement project, it’s natural to wonder if the project is worth it or not. One way to determine this is to look at the data – especially the return on home improvement investments in 2024.
Don’t worry – you don’t have to do it yourself! There is a great resource out there that crunches the numbers every year to determine which home improvement projects provide the best return for your investment dollars: The Remodeling 2024 Cost vs. Value Report[1]from the publishers of Remodeling, JLC, and Builder magazines.
The Remodeling 2024 Cost vs. Value Report takes a look at data on 23 different remodeling projects from 150 regions across the United States. They calculate the average cost of each remodeling project in each region and then compare that to what you can expect to recoup from the improvement upon resale of your home.
It’s a great first step to take when considering any new home improvement project!
According to The Remodeling 2024 Cost vs. Value Report, the top three home improvement projects that add the most value to your home are the following (also important to note, these are the only three projects which recoup more on resale than they cost):
As stated in The Remodeling 2024 Cost vs. Value Report, the definition of the garage door replacement project is:
“Remove and dispose of existing 16×7-foot garage door and tracks. Install new four-section garage door on new heavy-duty galvanized steel tracks; reuse existing motorized opener. New door has a lifetime warranty, and is made with high-tensile-strength steel with two coats of factory-applied paint, is foam insulated to minimum R-12, and includes thermal seals between pinch-resistant panels. Windows in top panel are ½-inch insulated glass. Hardware includes galvanized steel hinges and ball-bearing urethane rollers.”
The national average cost for this type of garage door replacement is $4,513 and the 2024 national average resale value for this type of improvement is $8,751 for a 194% cost recouped!
As stated in The Remodeling 2024 Cost vs. Value Report, the definition of the steel entry door project is:
“Remove existing 3-0/6-8 entry door and jambs and replace with new 20-gauge steel unit, including a clear, dual-pane half-glass panel, jambs, and aluminum threshold with composite stop. Door is factory finished with same color both sides. Exterior brick-mold and 2.5-inch interior colonial or ranch casings in poplar or equal prefinished to match door color. Replace existing lockset.”
The national average cost for this type of entry door replacement is $2,355 and the 2024 national average resale value for this type of improvement is $4,430 for a 188% cost recouped!
As stated in The Remodeling 2024 Cost vs. Value Report, the definition of the manufactured stone veneer project is:
“Remove 300-square-foot continuous band of existing vinyl siding from bottom third of street-facing façade. Replace with adhered manufactured stone veneer, including 36 linear feet (LF) of sills, 40 LF of corners, and one address block. Installation includes two separate layers of water-resistive barrier laid over bare sheathing (for more on getting the water-protection right, see “Manufactured Stone Done Right“), corrosion-resistant lath and fasteners, and nominal ½-inch-thick mortar scratch coat and setting bed. Outline entry archway; use an 8×10-inch keystone and a soldier course of flats on either side.”
The national average cost for this type of stone veneer addition is $11,287 and the 2024 national average resale value for this type of improvement is $17,291 for a 153.2% cost recouped!
Now let’s take a look at the bottom three home improvement projects that yield the lowest return on resale. No surprise, all three of these projects can be considered more luxurious remodels as they are all additions (and not straight remodels) and two of the three are upscale additions:
You can view the entire list here: The Remodeling 2024 Cost vs. Value Report
Of interest to homeowners considering upgrading their windows are the stats on window replacement. In general, window replacement is a large and expensive investment that lands in the middle of the pack for cost recouped.
The Remodeling 2024 Cost vs. Value Report has two different window replacement projects that it considers:
As stated in the Cost vs. Value Report, the definition of the window replacement vinyl project is:
“Replace 10 existing 3×5-foot double-hung windows with insulated, low-E, simulated-divided-light vinyl windows with a custom-color exterior finish. Trim exterior to match existing; do not disturb existing interior trim.”
The national average cost for this type of window replacement is $21,264 and the 2024 national average resale value for this type of improvement is $14,270 which means it only recoups 67.1% of the investment on resale.
As stated in the Cost vs. Value Report, the definition of the window replacement wood project is:
“Replace 10 existing 3×5-foot double-hung windows with insulated, low-E, simulated-divided-light wood windows. Interior finish of stained hardwood; exterior finish of custom-color aluminum cladding. Trim exterior to match existing; do not disturb existing interior trim.”
The national average cost for this type of wood window replacement is $25,799 and the 2024 national average resale value for this type of improvement is $16,222 which means it only recoups 62.9% of the investment on resale.
With the average national cost to have a vinyl window replaced hovering around $2,126 and $2,579 for wood windows – why not consider upgrading your windows with professional grade window film?
If your windows are causing any of these issues:
Or if you want to:
Our solar control ComforTech™ Ceramic Series window film can help. ComforTech™ is a professional grade, ceramic flat glass film for home that is easy to install and will give your windows an upgrade without the high cost of replacement.
Our double hung window film kits which fit most 3×5 foot double-hung windows are only $49 for any shade you choose. And because you install the film yourself – you save lots of money there.
Depending on the shade of film you choose, you can block up to 82% of total solar energy that hits the glass from coming in your home. And our three darkest shades have high enough external reflectivity to offer daytime privacy:
Read more about window film performance specifications and what each of the measures are here.
While we don’t have Cost vs. Value data for window film installation, the U.S. Department of Energy has stated that the payback (through electricity savings) for installing window film is approximately 3 years (source).
At $49 a window for a standard 3×5 double-hung window for ComforTech™ Ceramic Series film, if you have windows that are in otherwise good shape – why replace them, when you can upgrade them with film?
To learn more about our window film, visit us at www.windowfilm.com. If you need help selecting the right film for you, take our quick product recommendation quiz and we’ll suggest films to best meet the issues you are dealing with. Finally, want to see the film for yourself in your own space? Purchase a sample kit that includes all five shades of our ComforTech Ceramic Series film along with our Silver 15 Reflective film and Matte White Privacy film. The kit costs $5, but comes with a coupon code inside it for $5 off your first film order.
And of course, contact us directly if you have any questions! We can be reached at: [email protected], via chat at the chat bubble on the bottom right of this page, or by calling 888-206-1413. We look forward to helping you!
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[1] © 2024 Zonda Media, a Delaware Corporation. Complete data from the Remodeling 2024 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.
