Zonda, a leading provider of data-driven housing market solutions, has released its highly anticipated 2024 Cost vs. Value Report. This 37th annual report highlights the most common home renovation projects nationwide, ranked by return on investment (ROI). Among the top findings, manufactured stone veneer has a remarkable 153% ROI. This result emphasizes the lasting value of exterior home improvements, enhancing curb appeal and delivering impressive returns.
How These Findings Were Determined
The Cost vs. Value Report answers, “What value does a remodeling project add to a home’s sale price?” Each year, Zonda gathers insights from real estate professionals and data from Verisk’s XactRemodel® tool. This collaboration provides accurate local pricing data, making it easy to see the cost and resale value of 23 remodeling projects across 149 U.S. markets.
Year-Over-Year Comparison: 2024 vs. 2023
In the 2023 Cost vs. Value Report, manufactured stone veneer delivered a solid 102.3% ROI despite economic challenges like rising mortgage rates, inflation, declining real estate sales, and supply chain disruptions. Manufactured stone veneer was the top-performing cladding project, surpassing other options like fiber-cement siding and vinyl siding, ranking third out of 23 remodeling projects. Fast-forward to 2024, and manufactured stone veneer saw a massive jump to a 153% ROI. This significant increase highlights its growing recognition and enduring appeal among homeowners and real estate professionals.
Top Reasons Why Manufactured Stone Veneer Outperformed in 2024
- Enhanced Curb Appeal: Manufactured stone veneer provides a high-impact visual upgrade, boosting a home’s exterior with a realistic stone look. This significant enhancement attracts potential buyers and increases project value, contributing to its impressive 153% ROI in 2024.
- Cost-Effective Investment: With an average project cost of $11,287 and a resale value of $17,291, manufactured stone veneer offers excellent value without the high costs of natural stone. This affordability and a substantial return highlight its growing appeal among homeowners and real estate professionals.
- Versatile Application: The manufactured stone veneer’s flexibility allows it to be used in various applications, from entire facades to accent walls and fireplaces. This versatility adds to its attractiveness and effectiveness as an investment, driving its notable performance in the 2024 Cost vs. Value Report.
As we continue to navigate the evolving economic landscape of 2024, manufactured stone veneer stands out due to their impressive ROI and effectiveness in enhancing a home’s exterior. This makes it a top choice for homeowners looking to make valuable and impactful upgrades to their property.
Stone Veneer is the Smart Investment
No matter how you view it, manufactured stone veneer is a smart investment for homeowners looking to boost their property’s value and appeal. If you’re getting ready to sell your home or want to refresh its exterior, enhancing curb appeal is simpler than ever with Horizon Stone’s range of colors, styles, and stone veneer textures. Contact our team today for expert advice or to locate a Horizon Stone distributor near you.