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2024 Cost vs. Value Report: Maximize Your Home’s Value with Exterior Improvements
The 2024 Cost vs. Value report reveals key insights for homeowners looking to increase their property’s value through strategic renovations. One major takeaway from this year’s findings is that exterior home improvement projects offer the highest return on investment (ROI). Specifically, garage door replacements and steel door replacements lead the pack, offering remarkable returns for homeowners:
- Garage Door Replacement: 194% ROI
- Steel Door Replacement: 188% ROI
- Manufactured Stone Veneer: 153% ROI
These projects are particularly beneficial for homeowners looking to enhance their curb appeal. Given the unique housing market conditions in 2024—such as higher mortgage rates and significant home equity—investing in exterior updates is an excellent strategy to boost resale value.
On the flip side, some projects, such as HVAC conversions, have seen a decline in ROI. This trend reflects shifts in energy costs and evolving consumer behavior, making it clear that energy-focused renovations may not yield the same returns as exterior home improvements.
Why Exterior Home Improvements Are a Smart Investment
Exterior upgrades like a garage door replacement or steel door replacement not only improve your home’s aesthetic appeal but also provide a strong financial return. These improvements are particularly lucrative when you consider the current market conditions. Homeowners looking to sell can significantly increase their property’s value by focusing on cost-effective exterior updates.
If you’re considering enhancing your home’s curb appeal, now is the time to take action. For homeowners in Katy, TX, The Woodlands, TX, Kingwood, TX, and Sugar Land, TX, Millbrook Construction offers expert guidance to help you plan your next exterior renovation. Get a free estimate for your project today by visiting Millbrook Construction’s Price Your Project tool. This easy-to-use tool will help you assess the potential return on your home improvement investment.
Conclusion: Prioritize Exterior Upgrades for Maximum ROI
If you’re thinking of upgrading your home, the data is clear: focus on exterior home improvement projects. Whether it’s replacing your garage door or adding manufactured stone veneer, these projects offer some of the highest returns on investment. For the best results, make sure to partner with a trusted contractor like Millbrook Construction. Check out Millbrook Construction’s Price Your Project tool today and start planning your home improvement project!
| Project | Low range | Mid range | High Range (Upscale) |
| Bathroom addition: | $19,000 | $36,000 | $73,000 |
| Bathroom remodel: | $9,500 | $15,000 | $51,000 |
| Major kitchen remodel: | $29,000 | $53,000 | $107,000 |
| Minor kitchen remodel: | $9,500 | $17,000 | N/A |
| Master suite addition: | $62,000 | $109,000 | $226,000 |
| Family room addition: | $29,000 | $60,000 | $78,000 |
| Sunroom addition: | $20,000 | $47,000 | $67,000 |
| Attic bedroom conversion: | $36,000 | $50,000 | $80,000 |
| Second story addition: | $82,000 | $124,000 | $180,000 |
| Detached garage: | $36,900 | $57,000 | $77,000 |
| Detached garage with apartment: | $87,000 | $125,000 | $175,000 |
| Covered patio: | $7,500 | $19,000 | $34,000 |
| Deck addition (wood): | $5,900 | $9,900 | $23,000 |
| Deck addition (composite): | $9,000 | $16,000 | $34,000 |
| Roofing replacement: | $8,000 | $19,000 | $31,000 |
| Siding replacement (Hardie): | $8,900 | $18,000 | $19,000 |
| Window replacement (wood): | $10,000 | $16,000 | $21,000 |
| Window replacement (vinyl): | $7,000 | $15,000 | $18,000 |
Find comfort in knowing that your home is in good hands with Millbrook-Construction. Whether it is a kitchen remodel and bath remodel, a new garage, a room addition or a complete home renovation, Millbrook-Construction will guide you through the remodeling process and make your home yourDream Home.