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.
(Remodeling 2021 Cost vs. Value Report: © 2021 Zonda. Complete data from the Remodeling 2021 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.)