Is that exterior project you’re planning even worth it? Can you recoup the cost of your garage door or siding project when it comes time to sell? If those questions weigh heavy on your mind while pouring over quotes and estimates, you’re not alone.

Luckily, every year, Zonda releases its popular Cost vs. Value report. This report (also known as the CVV) takes a look at the most popular projects and compares their costs against the value they add to the home. The 2024 report leaned heavily toward exterior projects, opting for curb appeal value over energy efficiency or even adding to the home’s footprint.

Ahead, take a deep dive into the latest trends involving exterior projects and the value they add to homes.

Zonda Says Exterior Projects Win the Day

The latest Cost vs. Value report from Zonda shows exterior projects can yield the biggest return on investment (ROI). In fact, of the 23 top ROI projects listed by Zonda, nine were solely exterior projects (we didn’t include grand entrance renovations or window replacements in our count, both of which are on the list in various capacities).

These nine projects include garage door replacements, steel front door replacements, exterior stone veneer, siding replacements in vinyl and fiber cement, deck additions in composite and wood, and roofing replacements in shingles and standing seam. Their average return on investment? A whopping 107 percent (rounded up a couple of decimals).

That high ROI is a stark difference from the average of other projects on the list. The average ROI is around 55 percent for projects involving new windows, bathroom remodels of different grades, kitchen renovations of various quality and even HVAC conversions — and some of those projects had massive price tags.

Which Projects Offered the Most ROI?

Establishing your budget is an important part of planning any renovation. But, knowing how much a project might pay back in terms of the home’s resale value is an important factor to consider. Zonda’s report obviously showed that exterior projects offer the most ROI, but which projects offered the best return percentages? Hint: Lower-cost projects with major curb appeal upsides fared the best.

Overall, the project with the best ROI in 2024 was a garage door replacement. On average, this project cost around $4,513 and yielded an increase in value of $8,751 for a return percentage of 194 percent. In second place is a steel front door replacement, which cost an average of $2,355 and provided a value increase of $4,430 for an ROI of 188 percent.

The lowest return on the survey belonged to standing seam roofing replacement, which cost an average of $49,928, added $24,034, and provided a return of only 48 percent.

Here’s a full breakdown of the nine exterior projects in the top 23, their costs, their values, and the ROI they yield:

Project Cost Added Value ROI %
Garage Door Replacement $4,513.00 $8,751.00 194%
Front Steel Door Replacement $2,355.00 $4,430.00 188%
Manufactured Stone Veneer $11,287.00 $17,291.00 153%
Siding Replacement: Fiber Cement $20,619.00 $18,320.00 88%
Deck Addition: Wood $17,615.00 $14,596.00 83%
Siding Replacement: Vinyl $17,410.00 $13,957.00 80%
Deck Addition: Composite $24,206.00 $16,498.00 68%
Roofing Replacement: Asphalt Shingles $30,680.00 $17,461.00 57%
Roofing Replacement: Standing Seam Metal Roof $49,928.00 $24,034.00 48%

CVV 2023 vs. 2024: What’s Changed?

It’s not necessarily big news that exterior projects with major curb appeal impact would rank toward the top of the 2024 CVV report. Last year’s report highlighted these projects’ high values, as well. For instance, the second place spot on the old list went to garage doors, with a cost of $4,302 and added $4,418 in value, yielding an ROI percentage of 103 percent (rounded up). The third spot went to stone veneer, which cost $10,925, added $11,177 in value, and returned just slightly less at 102 percent.

The most surprising change was the top spot. In 2023, HVAC electrification conversions were No. 1, costing $17,747 and adding $18,366 in value for an ROI of 103.5 percent. This year, HVAC conversions fell to the #12 overall spot, yielding just 66% percent ROI.

Here’s where this year’s top 9 exterior projects stacked up:

Project 2023 ROI 2023 Rank 2024 ROI 2024 Rank
Garage Door Replacement 103% 2 194% 1 (+1)
Front Steel Door Replacement 101% 4 188% 2 (+2)
Manufactured Stone Veneer 102% 3 153% 3
Siding Replacement: Fiber Cement 86% 6 88% 6
Deck Addition: Wood 50% 13 83% 7 (5+)
Siding Replacement: Vinyl 95% 5 80% 8 (-3)
Deck Addition: Composite 40% 17 68% 10 (+7)
Roofing Replacement: Asphalt Shingles 61% 11 57% 14 (-3)
Roofing Replacement: Standing Seam Metal Roof 49% 14 48% 17 (-3)

What This Means for Pros in 2024

Truthfully, the Zonda CVV is one of the most valuable sales tools that the average professional can use. Armed with the information about the projects that provide the best return on investment, they can use the data to help close their sales. By comparing the customer’s return to their profit margins, contractors can choose which projects to specialize in, especially if those projects basically sell themselves.

Real estate agents will also start sharing this data with their clients. If you are a contractor, consider contacting real estate agents to build relationships and check with your suppliers to ensure they have a steady supply of materials for these popular projects in 2024.

Originally Published: May 20, 2024

Author
Tom Scalisi
Tom Scalisi writes from first-hand experience. He spent over two decades in the trades as a contractor and in industrial maintenance. Today, he writes hundreds of articles each year while also operating several of his websites. When he's not at his desk, he's usually on a baseball or softball field with one of his rec or travel teams.
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Tom Scalisi