Did you know that adding Manufactured Stone Veneer (MSV) to your renovation project will add real value to your home? Not only will MSV add real value to your renovation project, but for the first time ever, we are seeing resale value to be higher than the cost! According to the 2023 Cost vs. Value report from Remodeling Magazine, the average exterior façade renovation will have a return of 102.3%, the third highest return on your investment (ROI) compared to all other home renovation projects. Among the 22 remodeling projects studied, when it comes to recouping your investment MSV came in third place, just below HVAC conversion and garage door replacements.
10 QUESTIONS WITH JEFF LEECH - ROI & STONE VENEER
Join us for 10 Questions with Jeff Leech, CSI staffer and industry expert who unveils his expertise on ROI and stone veneer.
Remodeling Magazine recently released their 2023 Cost vs. Value Report for Home Renovations, what does that report really mean?
What it looks at is the renovations that people are doing, the cost of them and what the return is after they have been done. So, as an example, if something costs $10,000, they give you a value of what they think would happen if you sold that house later.
What do you think about the 23 products that made it to the list?
There’s everything on there, as usual there’s washrooms, kitchens, and all the different types of renovations, but primarily, what was neat is that manufactured stone ended up in 3rd place on this report.
What does that mean for CSI?
We sell manufactured stone and with MSV coming in to be 3rd on the list, it’s a renovation that people should look to do! The other thing that’s really interesting about it, you get a 102% return, which really means if you’ve invested $10,000 on a renovation, you’re likely going to get $10,200 back, which is the first time this has happened!
So, the resale value is higher than the cost for MSV! How’s that even possible?
It’s what people want! If you look at a lot of surveys that are done, people like stone! It’s a building product that is timeless, it’s something that has beauty and it’s very versatile.
What does that mean for other stone products like natural stone veneer and stone siding?
They will all be involved in the same, but what was happening is that the report is done specifically on MSV of which we carry Cultured Stone® and Dutch Quality. But all of our products like TIER® Natural Stone, TerraCraft® Natural Stone, Versetta Stone®, and Pangaea® Natural Stone, would fall into the same format.
What can a typical homeowner expect when renovating with stone veneer?
It depends on your project! If you’re doing an exterior, it’s different than doing a fireplace, which is different than doing a feature wall in your bedroom.
Now that we understand the value of stone veneer, what can you really do with it?
There are so many options! Obviously, you see the exterior of a house, there’s show walls in the interior, fireplaces, wine rooms, backsplashes, the versatility is endless!
For any homeowners looking to renovate, what would be their first step in finding the stone of their dreams?
Start with us, www.AllThingsStone.com, which is our website! On there you’ll find a ton of resources! We have a visualizer so you can see your project live, which would allow you to get a real feel for what your renovation would look like! Of course, you can always visit our dealers, who have showrooms, and you can call our Sales Reps and Customers Service team. There are many options for you to learn about our products.
STONE VENEER = MVP
Year over year, MSV is proving to be one of the most valuable products (MVP) to make your home more attractive to buyers, especially during the trying times we’ve faced the past couple of years. If your home is in need of a face lift, then look at including a stone veneer product that suits your residential exterior or interior design style. Whether you choose to go with manufactured stone, or decide on a natural stone, panelized stone, or even a stone siding product, you can expect to see similar returns on investment as MSV.
MSV retaining its value is not a fad, it is a time proven trend. Since 2015 MSV has ranked in the top three each time, and it continues to remain stable in its growth. Please keep in mind, this information is based on data from the USA.
Natural Stone Veneer
Pangaea® Natural Stone
Although natural stone veneer wasn’t explicitly listed on the Cost vs. Value report, it’s another great option to add curb appeal and increase the value of your home! Using our Pangaea® Natural Stone, this home was completely transformed into a dream home. Sierra Ridge Roman Castlestone is a weathered European style stone that combines yesterday’s elegance with today’s sophistication.
Pre-blended and ready to install, Pangaea® combines the natural, rugged beauty of quarried stone with an ease of installation, previously unheard of in the industry. From moody grays and brooding blacks to sparkling desert tones, Pangaea® offers styles and colors that only Mother Nature creates.
We hope this blog post helped you better understand the value of remodeling with manufactured stone veneer or any type of stone product! Let’s make 2023 the year of adding real value to your home, while getting you a 102.3% return on your investment!
Whether you’re a homeowner, skilled mason, contractor, designer, or builder, CSI – All Things Stone is here to be your source and resource for all things stone and more! Feel free to contact us if you have any questions, or if you need help in finding where to buy stone in your area. If you would like to use our online dealer search to find a store near you, please click here to find a store in Canada, or click here to find a store in the United States.