Does Re-Siding Your Home Add Resale Value?
Lawrence Construction LTD. has experience in taking down, replacing or adding vinyl siding to your home out outbuildings.
Re-siding a home adds a significant amount of resale value to a homeowner’s property. The National Association of Realtor’s website, Houselogic, reported that the best choices for improving home value in 2014 were exterior projects, including siding replacement. Whether the siding you chose is vinyl, fiber cement, or foam-backed vinyl, the decision to re-side a house has consistently increased resale value for homeowners. Re-siding adds to the property’s curb appeal and also helps to control energy costs, which makes it a smart investment.
Vinyl siding is a reasonably priced, lightweight, and virtually maintenance-free way of providing thermal protection to the home’s exterior. According to “Remodeling Magazine’s” 2014 Cost vs. Value Report, a midsize vinyl siding remodel will increase your home’s value by 78.2 percent of the project’s cost. The report estimates that a midsize vinyl replacement job will cost $11,475, and has a resale value of $8,975. The $11,475 figure is the projected cost to replace 1,250 square feet of siding and trim.
Upscale Fiber Cement Re-siding Project
Fiber-cement siding is resistant to moisture, fire, termites and rot. In addition, it doesn’t flex. The Cost vs. Value Report classifies fiber cement re-siding as an upscale project that entails replacing 1,250 square feet of existing fiber with new factory-primed and factory-painted fiber-cement siding, and also replacing fiber-cement boards or cellular PVC 4/4 and 5/4 trim, which costs an average total price of $13,378. This re-siding project produced an average resale value of $11,645, which represents an increase in home value that’s 87 percent of the project cost. (Ref 1, 4, 5)
Upscale Foam-Backed Vinyl Re-siding Project
Foam-backed or foam-core vinyl siding enables the vinyl to lay flat against the house, creating a solid foam barrier that is less vulnerable to impact from objects or weather. It’s another upscale re-siding project, with an average cost of $14,236 to replace 1,250 square feet of existing siding, including factory trim at corners and openings. This re-siding project produced an $11,124 resale value, which represented an increase in home value that was 78.1 percent of the amount invested in the project.
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