The Importance of ROI in Home Improvement
There’s so much to consider when preparing your house for sale. Besides all the people and processes, choosing the right home improvements can be daunting. We all want our upgrades to add value to our homes. If you’re thinking about a stress-free roof replacement, replacing windows, or new entry doors, it’s wise to choose improvements with the highest ROI (Return on Investment).
But how do you determine the ROI of a home improvement project? Where do you look? Who can you trust? Contractors are quick to sell you, but is there a source that is not swayed by your business? If you are like most people, you settle for a few clicks into a Google search and don’t find anything useful. But, we have some good news for you…
Finding Reliable Data for Home Improvement ROI
There are numerous companies and products claiming to offer the most value, but unbiased data is far more reliable.
If you’re not in the Construction/Remodeling Industry, you might not have heard of Zonda Media. They’ve been publishing annual “Cost Vs Value” reports since 1987. These reports aim to answer one crucial question, “What value does a particular remodeling project add to the sale price of a home?” (link: https://zondahome.com/2023-cost-vs-value-report/)
How Zonda Media Collects Data
Zonda gathers this data by surveying real estate professionals and using direct data from remodeling estimating tools. They determine “the average cost of 23 remodeling projects versus how much value those projects retain at resale.”
Zonda’s findings are not only published as national averages, but they also break down their data to specific markets—including Lafayette, Louisiana. This means you can better understand the average cost AND RETURN on your stress-free roof replacement or any other home improvement project.
Making Informed Decisions on Roof Replacement
For instance, if you’re considering replacing your roof, you have different materials to choose from. Which one costs the most? And which one offers a better return?
According to Zonda’s findings, an average Lafayette area homeowner will spend more on a Metal Roof Replacement and get a lower return (ROI) than on an Asphalt Shingle Roof Replacement. Besides being less expensive, this homeowner can expect to recoup 64% of their cost of a Shingle roof, as opposed to 47% of metal.
This is just one of the many reasons Roofing Louisiana replaces roofs with Owens Corning shingles – specifically Class IV Impact Shingles (read more here).
Understanding the Data and Making Choices
Though none of these numbers are guaranteed, this report can help you make better decisions and know what to expect. As in our previous example, this report shows the current averages for both asphalt shingle and metal roof replacements. According to the data, not only is vinyl less expensive (on average), but it has a higher return.
Consider this when choosing window replacement, deck addition, or siding replacement. This report even breaks down additions and remodels from midrange to upscale.
Comparing Different Home Improvement Projects
Here is more good news for Lafayette area homeowners:
- Vinyl Window Replacements recoup an average of 83%
- AND Vinyl Siding Replacements recoup an average of 107%
To access the full report, check out zondahome.com/2023-cost-vs-value-report/ and download your own copy.
Why Choose Jim Olivier’s Roofing Louisiana for your stress-free roof replacement
At Jim Olivier’s Roofing Louisiana and Home Improvement, we not only use high-quality materials with hard-to-beat warranties, but we focus on the home improvements with the highest ROI. We aim to provide a stress-free roof replacement experience for our customers.
Whether you are getting ready to sell, or want to love your home again, choose the best materials, the best improvements, and the best professionals with the best service.
