Does Re-siding Your Home Add Resale Value?
Posted May 5, 2008 @ 5:55 pm, Viewed by 131 Visitors, Read 141 Times.This question is not easy to answer as there are several factors to take into consideration when deciding on redoing the siding of your home.
First and foremost is how old is your present siding? Or, rather, how old does your present siding look? It’s fairly obvious that badly damaged or dingy siding that cannot be improved with a simple cleaning should be replaced before you put your home on the market. The largest part of the exterior of a home is the siding that, thus, is the biggest factor in curb appeal.
A second important question is what is the cost versus potential increase in value? This definitely should be taken into consideration as a $17,000 re-siding job is not likely to add the same or more amount to the asking price of your house. If the present siding is fairly decent looking, it might behoove you to settle on a slightly lower price and let the future home owners make the choice of re-siding.
The type of siding you choose also directly affects the cost to value factor. Vinyl siding is fairly inexpensive and durable under most climate conditions and can be a good way to spruce up an otherwise tired looking house. As the cost of the siding materials goes up, the added value tends to go down.
Regional differences can affect the resale value of a remodeling job, also. In the Mid-Atlantic states, for example, vinyl siding replacement can return over 90 percent of the cost while in the Southwest, only 80 percent is realized.
These factors need to be considered for any remodeling work done on your home, but re-siding is probably the most important one because of the size, cost, and visual impact of the job.
Happy improving!
Joe
Joe Cline works in Austin Texas Real Estate. If you are looking to buy, sell, or lease Austin Real Estate, it would be my pleasure to help.
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Social Bookmarking2 Responses to “Does Re-siding Your Home Add Resale Value?”
yeah. I was a little suprised as well, but then again, curb appeal is big and since the siding is the protection for all of the home it's a good investment both functionally and aestetically.
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Last week there was an article in our local paper which cited "siding replacement" as one of the best investments one could make to increase both the value and curb appeal of their home (and also provide them with the greatest return on their investment). The article was surprising to me because it was a national study that looked at at the cost / benefit of various improvements and siding came out ahead of more traditional items such as kitchen remodels, bathroom remodels, etc.