Cost vs Value 2023: Exterior Remodeling More Cost Effective than Buying a New Home

Remodeling Magazine’s Cost vs Value Report is an annual report that compares the average cost of popular home remodeling projects with their resale value. This report is an important tool for New England homeowners. It helps them make informed decisions about which remodeling projects will provide the best return on investment. By understanding the cost and value of exterior remodeling projects, homeowners can make smart choices that improve the functionality and value of their homes.

This year, exterior remodeling products rank among the top 10 upgrades for ROI amid soaring home-buying interest rates and energy bills. Exterior remodeling is a more cost-effective alternative to buying a new home. It boosts energy efficiency, style, and functionality while adding value and potentially raising resale prices.

Cost Vs. Value 2023 Overview: The Best (and Worst) Upgrades to Make This Year

If you decide to improve your home this year, it helps to know your numbers. Investing in the best home upgrades can make a big difference in your bank account and home performance. This year, the best and worst upgrades in terms of return on investment are as follows:

Best Upgrades (Return on Investment):

Vinyl Siding: 107.9%

Entry Door Replacement Grand Entrance: 103.3%

Fiber Cement Siding: 101.2%

Vinyl Windows: 71.5%

Asphalt Roof: 62.4%

Metal Roof: 48.9%

Worst Upgrades (Return on Investment):

Bathroom remodel: 43.6%

Kitchen Remodel: 42.1%

Bathroom Remodel, Upscale: 37.8%

Deck Addition: 36.8%

Major Kitchen Remodel: 30.0%

Bathroom Addition: 29.5%

Vinyl Siding: 107.9%

Vinyl siding is a popular and beautiful cladding option for New England homeowners, boasting an impressive 94.7% return on investment. One of the key advantages of modern vinyl siding is the availability of foam-backed insulation. This significantly enhances a home’s energy efficiency by reducing heat transfer and drafts. The added layer of insulation keeps homes warmer during the harsh New England winters. However, this technology also contributes to energy savings throughout the year.

The wide array of beautiful color and profile selections allows homeowners to customize their exteriors. Vinyl is aesthetically very versatile, and it complements the architectural styles here in New England.

With minimal upkeep and resistance to common issues like rot, fading, and peeling, vinyl siding presents a long-lasting and visually appealing cladding. It enhances the value and curb appeal of homes in the region, making it a wise investment for homeowners seeking an excellent ROI.

What value can you get from vinyl siding installation this year?

• Insulated vinyl siding and housewrap can help you save up to 11% on your energy bills
• No maintenance costs and upkeep requirements such as sanding or staining.
• Saves money on re-paining wood siding, which can cost up to $12,000.
• Homeowners typically have to re-paint once every 5 years, which increases the cost of maintaining wood siding significantly over the lifetime of the home.
• The truth is you don’t own a paint job. However, our ChromaTrue technology promises vibrant colors that won’t fade for decades.

Coastal Windows & Exteriors is a trusted vinyl siding contractor in Massachusetts. We have over 2 dozen color options along with many profiles such as vinyl cedar shakes and scallops. Certified by the Vinyl Siding Institute, our siding installation can improve home performance and resale value.

Entry Door Replacement Grand Entrance: 103.3%

Fiberglass doors bring a 59.7% return on investment. This is a great upgrade for homeowners seeking a balance of style and functionality.

One of the key benefits of fiberglass doors is their low to no maintenance requirements. This means homeowners can enjoy long-lasting performance without the need for regular upkeep. These doors feature an energy-efficient polyurethane foam core. This design provides superior insulation that helps to minimize heat transfer and reduce energy costs.

Furthermore, fiberglass doors are available in a wide variety of style options. You’ll find woodgrain finishes and decorative glass designs. The combination of low maintenance, energy efficiency, and aesthetic versatility makes fiberglass doors an attractive investment.

Fiberglass brings fantastic value in the following ways:

• Energy efficiency: Fiberglass doors are constructed with a polyurethane foam core, providing excellent insulation that helps reduce heat transfer between the indoors and outdoors. This results in lower energy consumption for heating and cooling, which can save homeowners money on their energy bills.
• Low maintenance: Fiberglass doors require minimal upkeep, as they resist warping, rotting, and rusting. Unlike wooden doors, they do not need regular painting or staining to maintain their appearance and durability. This saves homeowners both time and money on maintenance expenses.
• Durability: Fiberglass doors are highly resistant to the elements, including harsh New England winters, and can withstand extreme temperature fluctuations. Their long-lasting performance means homeowners can save on potential repair and replacement costs.

Enjoy ProVia fiberglass entry door installation in your New England home from Coastal Windows & Exteriors. Enhance your home security with Impact-Shield and a 20-gauge kick plate for storm protection and burglary deterrence. Fiberglass doors are maintenance free and designed to lower energy bills with foam-filled cores. Homeowners benefit from excellent energy efficiency with a durable, non-warping threshold, and increased durability from corrosion-resistant rollers and heavy-duty hinges. Choose from a variety of colors, styles, and decorative options for a personalized touch.

Fiber Cement Siding: 101.2%

Fiber cement siding has become the go-to choice for New England homeowners looking to maximize their investment in home improvements, offering a remarkable 101.2% return on investment (ROI). James Hardie® fiber cement siding has gained significant popularity in the region, thanks to its exceptional durability, design versatility, and climate-adapted engineering.

Homeowners can choose from a wide range of profile options, such as HardiePlank® lap siding, vertical siding, and shingle siding. These aesthetic choices cater to the unique architectural styles found throughout New England. The beautiful color selection of James Hardie® products is curated to complement the natural beauty of our region. It comes with an array of hues designed to maintain its vibrancy for years to come.

What sets this siding apart is its precise weather-protection engineering. It accounts for the specific weather challenges faced by New England homeowners. This includes freezing temperatures, snow, ice, and coastal moisture with the protection of HardieWrap®. As a result, James Hardie® fiber cement siding not only enhances a home’s curb appeal but also provides lasting protection and value. This makes it a wise investment for homeowners in the region.

• James Hardie® products provide 30% better resistance to color fading than competitive products. This means you’ll spend less money on maintenance upkeep.
• Fiberglass siding is resistant to rot, warping, cracking, hail and high winds of up to 150 MPH.
• James Hardie® fiberglass siding costs less than wood siding, with wood costing up to $45,000.
• Fiberglass can potentially help you lower insurance premiums since it’s non-combustible and hail resistant.
• When you go to sell your home, you can enjoy a 101.2% return on investment.

Coastal Windows & Exteriors is a James Hardie® Elite contractor. We carry James Hardie® products with many colors and profiles, including the popular Statement Collection. Choose us for your fiber cement siding upgrade, bringing the quality and joy of James Hardie® to every New England home.

Vinyl Windows: 71.5%

Remodeling Magazine’s 2023 Cost vs. Value report revealed that vinyl windows offer an amazing 71.5% return on investment for homeowners. As the world faces an energy rate crisis, energy efficient windows come to the rescue. They provide substantial savings on heating and cooling costs by minimizing heat transfer and improving insulation.

When you want to boost your home’s performance and curb appeal, vinyl windows come in various styles. Designs such as double-hung, casement, and sliding, easily complement New England homes.

In addition to their energy-saving benefits, vinyl windows are eco-friendly and low maintenance compared to traditional wood windows. They are made from recyclable materials, reducing their environmental impact, and do not require painting or staining. Quality vinyl windows are a smart, cost-effective, and environmentally conscious upgrade.

What value will vinyl windows bring you this year?

• According to the U.S. Department of Energy, heat gain and loss through windows account for 25% to 30% of home heating and cooling energy use.
• Energy Star certified vinyl windows can save homeowners an average of $101–$583 each year.
• Vinyl windows offer a 71.5% return on investment. This means that if a homeowner spends $10,000 on vinyl window replacement, they could potentially recoup $7,150 in increased home value upon resale.
• Vinyl windows are virtually maintenance-free, eliminating the need for maintenance costs. Wood windows require regular maintenance to prevent issues like rot and insect damage. The exact savings on maintenance costs depend on the frequency of maintenance and the price of labor and materials.

Vinyl windows from Coastal Windows & Exteriors are of exceptional quality and efficiency. Your windows come equipped with energy-saving inter gases argon or krypton, low-e coating, and an airtight seal to prevent drafts. Our windows are certified by Energy Star and have the highest air infiltration rating in the industry. Contact us now for a free estimate without hassle. 

Asphalt Roofing: 62.4%

This year’s report highlights that asphalt roofing offers a notable 61.1% return on investment. Asphalt roofing is a wise choice for homeowners concerned about energy efficiency in our current energy rate crisis.

Installing a new roof is a more cost-effective option compared to buying a new home, particularly during times of high interest rates. By upgrading your existing home, you can improve its energy efficiency, comfort, and value without incurring the significant financial burden and stress of purchasing a new property. This is especially true in today’s unfavorable lending environment.

In addition to energy savings, a new asphalt roof can effectively eliminate leaks. This is essential for preventing the growth of mold and mildew. Mold growth can quickly compromise indoor air quality and cause structural damage.

Proper ventilation plays a crucial role in this process. It allows for adequate airflow and moisture control. When a new roof is constructed using high-quality materials and installed by experienced professionals, it can last for decades. This is while providing homeowners with peace of mind and long-term protection against the elements. Investing in a new asphalt roofing system not only contributes to a more energy-efficient and comfortable living environment but also adds lasting value to your home.

Experience the value of new asphalt roofing with:

• Properly installed asphalt roofing with adequate ventilation can help balance indoor attic temperatures, reducing energy consumption by preventing heat buildup in the summer and heat loss in the winter. A well-ventilated attic can lower cooling costs by up to 40%.
• By preventing leaks and ensuring proper ventilation, a new asphalt roof eliminates the risk of mold and mildew growth. This can be costly to remediate. The average cost of mold remediation can be up to $3,500.
• During winter months, ice dams can cause significant damage to roofs, gutters, and even the interior of homes. Installing a new asphalt roof with proper insulation and ventilation can help prevent ice dams from forming, saving homeowners thousands of dollars in potential repairs. Ice dam removal costs roughly $500 per hour.
• A new asphalt roof can increase a home’s resale value by enhancing its curb appeal and providing potential buyers with confidence in the home’s structural integrity. Remodeling Magazine’s 2023 Cost vs. Value report shows that asphalt roofing offers a 61.1% return on investment, meaning a $10,000 investment in a new roof can add roughly $6,110 to the home’s resale value.

Coastal Windows & Exteriors offers quality GAF roof replacement for homeowners in New England. We are a reputable roofing contractor and a GAF Master Elite® certified roofer. New roofing from Coastal comes as a complete six-layer system to enhance home performance and protect what matters most. Our installers undergo rigorous training to ensure top quality standards for asphalt roof installation. Get a free estimate by contacting us today.

Metal Roofing: 48.9%

Metal roofing offers a 48.9% return on investment, making it an attractive option for homeowners seeking long-lasting and visually appealing solutions. One of the key benefits of a metal roof is its exceptional performance during wind storms. Protecting against high winds, it provides enhanced protection and peace of mind for homeowners.

Meanwhile, metal roofing is available in a wide array of color options, allowing homeowners to customize their roof to match their personal style. This combination of durability and aesthetic versatility makes metal roofing a popular choice. Consider metal roofing if you need a resilient and visually striking roofing material that offers a solid return on investment.

Enjoy the value of metal roofing for some of the following reasons:

• Metal roofs can last 40-70 years. This can potentially outlast asphalt roofing shingles, depending on the quality of the shingle. This extended lifespan means homeowners can save on replacement costs over time.
• Energy efficiency: Metal roofing reflects solar heat, reducing cooling costs by 20% during hot summer months. In New England’s cold winters, metal roofs with proper insulation can also help retain heat, reducing heating costs.
• Low maintenance: Metal roofs require minimal maintenance, saving homeowners time and money on upkeep. They resist damage from elements like rain, snow, and wind, reducing the likelihood of costly repairs.
• Increased home value: The durability, energy efficiency, and aesthetic appeal of metal roofs can contribute to an increase in a home’s value, providing a better return on investment if homeowners decide to sell.
• Metal roofs can withstand high winds of up to 145 MPH.

Consider True Nature metal roofing from Coastal Windows & Exteriors. Our metal roofs come with a lower lifecycle cost, where you may have to replace a lesser-quality asphalt roof 3 times to get the protection you need. Requiring zero maintenance, metal roofing brings an excellent resale value while lowering energy bills. Get in touch with us today to learn more. 

Exterior Remodeling: More Cost Effective than Buying a New Home

In 2022, the National Association of Realtors reported that the average down payment across the country was 13%. For a property valued at $389,500, this translates to a down payment of $50,635. You can get the exterior of your dreams without a hefty down payment and the hassle of moving to another home.

Exterior remodeling offers a way to increase energy efficiency and update the style and functionality of your home. Furthermore, remodeling adds value to your home while potentially increasing its resale value in the future.

While bathroom and kitchen upgrades are great, the truth is that exterior remodeling is the upgrade that keeps on giving. This includes energy savings, beauty, and security. Contact Coastal Windows & Exteriors today for a free estimate on roofing, windows, siding and doors.