Does Siding Increase Home Value?
Years of harsh weather fluctuations can leave the exterior of your home looking ragged and in dire need of a facelift. A new siding can, however, be a costly project, and you may be left to wonder if the improved curb appeal will increase the market value of your home. This article will give you useful insights into that and help you make better home improvement decisions.
Siding has a Solid Return on Investment (ROI)
Not many people understand the simple business concept, but if you are here asking how re-siding your home improves its resale value, then you are implicitly inquiring about the ROI of siding. ROI is the amount a project is expected to fetch back relative to its initial cost. According to a CNBC report, new vinyl siding installation can recoup a whopping 89 percent of its cost on resale, which means that if the siding cost you $9,000, your home’s value will go up by approximately $8,000.
Still, not many home improvement projects have such a high ROI. So, if your plan is to see real change in the look of your home paired with a market value increase, then siding should be at the top of your projects list.
Siding Improves Your Home’s Curb Appeal
Curb appeal may not seem to hold a lot of weight when it comes to real estate value, but first-impression rules suggest otherwise. Most prospective buyers will only consider checking the interior of a home whose exterior has impressed them. Siding makes up the bulk of your home’s exterior, and by improving it, you are changing the overall look of your home.
Weathered and cracked siding can give potential buyers unnecessary worries about the property’s integrity and have them considering alternative options based on a misconstruction. Fresh siding installation from experienced installation experts can add to your curb appeal and greatly improve your home’s resale value.
Siding is more than just a cosmetic upgrade
While most homeowners who invest in new siding do it to improve their home’s curb appeal, the upgrade does way more than that. Good siding provides protection against extreme weather conditions, from winter storms and heavy spring rains to thunderstorms and summer hurricane-force winds. It improves the structural integrity of your home, an aspect many homebuyers pay a lot of attention to.
Additionally, siding increases, or at least gives you the chance to do something about your home’s deteriorating energy efficiency. Once the existing siding is stripped down, you can call a professional to replace or add insulation in your walls before getting on with the new installation. This saves you both time and money and reduces the risk of damage on your home from the frequent removal and reinstallation of siding.
You don’t have to change your entire home’s siding
If you changed your home’s siding just recently, and some parts seem to be falling apart, you don’t necessarily have to spend a fortune again. You can reduce the project into a minor one and focus on the damaged sections only. The advantage of this is that you will achieve the great look of an all-new siding without spending too much money. Spreading the siding expenses over a long period of time will ensure your home stays impressive always and that you never feel the economic pinch of doing a full siding installation.
How to Choose the Right Siding for Your Home
According to the US Census Bureau, vinyl siding tops the list of popular siding choices in the US, and you can see why! Vinyl is tough and durable and offers versatility in style. It also conceals nicks, scratches, and cracks perfectly as color permeates the material.
Thanks to today’s manufacturing standards, contemporary vinyl siding products are built to withstand harsh weather and necessitate minimal maintenance. The products are also light in nature, meaning homeowners can run new siding over an existing layer. You thus get the chance to avoid the costs of first removing old siding before installing a new one.
Fiber-cement is another popular siding material among American homeowners. Its selling points include low maintenance qualities, high durability, and resistance to insect infestations, fire, and weather. If you are looking for a durable option that you are not going to worry about for the next five decades, then fiber-cement is a great option.
Lastly, we have wood siding, which is revered for its classic look and feel. The fact that it is biodegradable makes it a great choice for the eco-conscious. Its downsides include high maintenance costs and vulnerability to insect and rodent infestations.
Siding can definitely increase the resale value of your home. However, being a major project, and a costly one for that matter, you need to be specific on the standards you want to achieve to avoid spending your money on something you won’t be proud of. Check with a seasoned siding installation expert for a breakdown of all the options at your disposal and the pros and cons of each.