North America’s Largest Woodworking Event | Tuesday–Friday | August 6–9, 2024

#IWFmorefor24

Industry & Trends

Wood-Based Remodeling Jobs Among Best ROIs for Homeowners

BACK TO NEWS

February 21, 2023 | Warren Shoulberg

Several key home remodeling projects that involve wood products are among the best values for homeowners, a new study shows.

With the housing market slowing, many retailers and suppliers in the business are counting on home remodeling to drive sales in 2023. And a new study from the Today’s Homeowner website shows that projects using wood are among the best values when it comes to return on investment.

The site looked at 34 remodeling jobs around households and many of them use wood and lumber. In fact, the top three all can involve wood depending on the choice of materials a homeowner might make: Garage door, which returns 100% of their investment; wood window replacement, 95.5%; and screened-in porch addition, 92.9%.

Other jobs with high ROIs that involve wood are: Wood deck addition, 80.1%; hardwood flooring, 78%; and minor kitchen remodel, 56.8%. Projects that involve larger outlays, such as major renovations of kitchens, bathrooms and other rooms around the house, had lower returns, largely due to the bigger initial costs. The average ROI for all projects was 69%.

And the worst household remodeling project for investment return? It’s finished basements, according to the study. That provides just a 22.7% return. On average the study discovered exterior projects have a higher ROI than those done in home interiors.

BACK TO NEWS

More Industry & Trend News

  • What Does AI Mean for Builders?

    February 28, 2024

  • Lowe’s Jumps on the Apple Vision Pro Wagon

    February 28, 2024

  • Living Timber Is the Latest Building Material

    February 28, 2024

Register to Attend

Be part of North America’s largest woodworking show and conference.

Register Now

Apply to Exhibit

Grow your business at the premier global woodworking trade show.

Exhibit at IWF 2024

Show Hours & Location

International Woodworking Fair
Tuesday–Friday
August 6–9, 2024

Tuesday–Thursday
8:30 AM–5:00 PM
Friday
8:30 AM–2:00 PM

Georgia World Congress Center
285 Andrew Young International Blvd
Atlanta, GA 30313

Get Industry News & IWF Updates

Subscribe to IWF Network News.

Subscribe Now

Terms & Privacy Policy

© 2020 International Woodworking Fair, LLC Terms of Use & Privacy Policy

3520 Piedmont Rd NE #350, Atlanta GA 30305 | (404) 693-8333

IWF 2024 Add to Calendar

Sync IWF 2024 with your favorite calendar program.

Notification Message

loading … please wait