Study Reports Manufactured Stone Veneer Offers the Best Return on Investment
Home renovation projects are part of the homeownership experience. You jump into some because you want to make your home feel yours or something needs updating from years ago. You’re forced into others as more of a necessary repair.
Renovating your home’s exterior can fall under either of those categories. But, either way, you’ll have to choose a design and materials. Will you change the look entirely or refresh what’s already there? Will you go from stucco to siding? How much is your budget? And, more importantly, how much can you expect to recoup on updating the exterior when you eventually sell?
You can find the answer to that last question in Remodeling Magazine’s Cost vs. Value report, which is published annually. The report ranks return on investment for home remodeling projects, comparing the average costs of 22 typical remodeling projects. For stone veneer, the report assumed replacing a 300-square-foot band of vinyl siding from the bottom third of the home’s frontside with manufactured stone veneer, sills, corners, and address block, along with two layers of water-resistant barrier underneath, lath and fasteners, and nominal ½-inch-thick mortar scratch coat and setting bed.
Not only does exterior manufactured stone veneer rank as one of the top two projects in 2021, but it also states that you can expect to recoup a whopping 92.1% of your investment. The only exterior remodeling project that beat out the stone veneer is a new garage door installation. Stone veneer and garage doors are the only two that homeowners can expect to return more than 90% of their original investment.
The Cost vs. Value report includes national averages and also breaks down cost vs. value across nine geographic regions of the U.S. Manufactured stone veneer is a top-two ranking project in our West North Central area, which includes both Kansas and Missouri.
Manufactured stone veneer’s 2021 92.1% cost/value return was based on an average project cost of $10,386 and a return at the time of sale of $9,571. Not too shabby, right?
The Appeal of Stone Veneer is Undeniable
Updating your home’s exterior with manufactured stone veneer enhances its aesthetics, unlike any other material does. The visual is obvious, but the Cost vs. Value report offers a financial incentive, as well. Fiber-cement siding replacement was valued at 69.4%, and vinyl siding replacement came in at 68.3%, making stone veneer’s return the highest value of cladding materials.
First impressions and curb appeal are strong motivators for buyers. Your home’s initial impression plays a huge role in just how much a buyer is willing to offer and pay for your home. Sellers’ agents often work with their clients to improve curb appeal before listing homes on the market. Considering smaller projects, such as adding a bit of landscaping, can mean the difference between love and meh in potential buyers’ heads.
Bottom line: manufactured stone veneer is a great investment for homeowners to improve curb appeal and increase value of their homes.
The Value of a Stone Veneer Exterior Holds Over Time
The first year manufactured stone veneer was included in the Cost vs. Value report was 2015. Since that time, this particular exterior home project has seen an average of 93.4%. What that means to homeowners is that investing in a stone veneer exterior is a project that isn’t expected to decrease in value over the years, unlike say a kitchen or bath remodel, which can become outdated and possibly require another update prior to putting your home on the market to appeal to buyers.
It’s interesting to note here that of all the projects ranked in the report, 11 out of 12 of them were exterior improvements in terms of recouping your money at the time of sale.
Add More Beauty and Elegance to Your Home with Stone Veneer
Complete Home Concepts has been selling and installing stone veneers for over 35 years, so its value isn’t news to us or our customers. We provide the Kansas City area with a wide selection of manufactured and natural stone veneers in a variety of colors and styles. Take a look at options from the Model Stone, Semco or Coronado collections.
Each stone profile has a unique blend of textures and colors that mimic the distinct characteristics of the native stones they replicate. Using the highest quality stone products, designed for both exterior and interior applications and, of course, the finest installation by our own stone masons.
Regardless of your project scope or size, our skilled and experienced staff has the capability to execute any project, from conception to completion. Complete Home Concepts’ installation crews are trained, experienced and accomplished in all applications whether you’re building a dream home or remodeling an existing home.