Americans spend $400 billion annually on remodelling their homes, with homeowners redesigning and restructuring their homes for a number of different reasons. Whether it be for aesthetics, energy efficiency or simply because you are seeking a fresh change, there are many home improvement projects you can undertake. Not to mention the fact that according to the 2019 Remodeling Impact Report (RIR), home improvement projects correlate to increased happiness once the project is finished (a pretty good excuse to start a new project if you ask WoW!) In fact, a ‘Joy Score’ was calculated for each home improvement project based on the happiness homeowners reported with their renovations. Exterior projects with the highest Joy Scores were new fiberglass or steel front doors, new vinyl and wood windows, and new roofing. The report also looked at why homeowners restructure their home, the success of the projects, and some of the most common projects. In this article, we will be taking a look at the most popular door and window projects US homeowners undertake.
Vinyl Windows Offer the Most Valuable ROI
The RIR revealed replacement vinyl windows were the second most appealing remodeling project of all the exterior categories. It also revealed it offered the most valuable ROI with a 71% value return with an estimated cost of $22,500, with a recouped cost of $16,000. According to NAR’s 2019 report, 47% of homeowners replace windows for more energy efficient ones, while 37% say they replace their windows to upgrade worn-out surfaces, finishes and materials. Furthermore, 12% of realtors suggest sellers upgrade to vinyl window replacement projects before selling their home, making it the most highly suggested door or window remodelling project.
Wood Window Replacements – The Less Appealing Window
When looking at the less appealing window projects, replacement wood windows came in on the lower end of the scale because it is less appealing to buyers and offered slightly less value. The average cost of a wood replacement window was $35,000 and the estimated cost recovered was $20,000 (57% ROI). Interestingly, however, was only 1% of sellers said that wood window replacement helped sell their homes in comparison to the 4% of sellers that said vinyl window replacements helped to sell their homes.
Fiberglass Door Replacement – Enhance Energy Efficiency
Looking at doors, the average cost for new fiberglass doors was $2,700 and the estimated cost recovered was $2,000 for a value of 74% of costs recovered. From the respondents, 42% said they upgraded to a fiberglass door replacement to enhance the energy efficiency of their home, while 29% said it was to upgrade a worn-out surface. When selling, just 4% of realtors recommend sellers get new fiberglass doors, while no respondents said the project helped them sell a home. In the last year, the ROI of a fiberglass door replacement grew 4.3% (67.7% in 2018 to 71.9% in 2019), according to the 2019 Cost Vs. Value Report.
Steel Door Replacement – the Least Popular of Exterior Projects
When it comes to the least appealing of all exterior home improvement projects, new steel doors ranked last. Though it has an ROI of 75%, it is actually down from 2018 (91.3%). Homeowners who chose to install a steel replacement door said it was to enhance energy efficiency (42%), while 29% said it was an aesthetic upgrade. A small1% of sellers say a new steel door helped to sell their homes, while 4% of realtors recommend new steel doors before selling.
So there you have it – the collective state of the nation when it comes to replacement doors and windows. If you are looking to upgrade the energy efficiency of your home or simply give it an overall refresh, get in touch with WoW today for a free quote.