Adding new siding to your home isn’t an endeavor to take lightly. Siding can make or break your home’s curb appeal and even affect its long-term resale value. New siding can be a major investment, but it’s also an opportunity to reshape your home’s exterior to reflect your personal style. So, how much value can you expect your siding to add?
Siding is rated for numerous lifespans, depending upon the type of material used. During its serviceable lifetime, proper maintenance is key in order to maintain the appearance and performance of the siding. Its look may remain appealing for many years, or it may not. The adage that “you get what you pay for” holds true for quality and lifespan of siding.
Still, no matter the type of siding, it’s necessary for home owners to be aware of their home’s value and the effect that siding can play in that number. Recent studies have found that depending upon the quality and condition of the siding, your home’s final sale value can be increased anywhere from 1% to as much as 10%.
Quality Matters
Choosing a siding material can make a big difference when it comes to your home’s value. High quality siding materials are both aesthetically pleasing and strong enough to last for many years. Higher end siding materials such as fiber cement and real wood siding can add beauty and resilience to your home, commanding a higher resale value as a result.
Vinyl siding, known for its affordability, offers home owners with a great looking, low-price alternative. However, vinyl siding can begin to look a little worn after a relatively short period of time, losing the impact of its initial cost-effectiveness. For the best home value, you might look into a good compromise between standard and high-end siding materials.
Potential Home Improvements
When it comes to home renovations for resale value, replacing the siding is one of the best investments you can make. Updating old, drab siding can increase your home’s attractiveness, potentially making your home the envy of the neighborhood. Additionally, any renovations that can be added to your home without complex permits or licenses (like siding installation) can be a great option for those with a limited budget.
Updating visible features such as siding may cause a chain reaction in potential buyers, leading them to delve deeper and to notice other minute details they may have initially overlooked. Much like other home improvement projects, siding can open the door to further improvements down the line, leading to your home being better suited for a sale.
Beyond home decoration, any associated evidence of new siding can help since it can especially benefit buyers who are looking for low maintenance requirements. Any repairs that could be associated with older siding (or that may be required with cheaper materials) can ultimately influence the value of the home.
Related Expenses
- Installation costs
- Weatherproofing
- Particular siding material costs i.e real wood vs. vinyl
- Staining or painting
- Maintenance costs
Adding financial value to your home
While you may not expect to completely recoup your original siding installation costs upon sale, it’s important to remember that home remodels are investments. Taking care when making siding choices can prove to be a good long term investment, and ultimately add to your home’s value.
The best and most cost-effective way to ensure your siding adds resale value is to maintain it. Even beyond that, taking steps to keep your home’s siding looking as good as the day it was installed can pay dividends. The only way to guarantee lasting results is to ask your siding contractor for advice on the best course of action for siding maintenance.
Adding new siding to your home can be a daunting task, but when done correctly can add tremendous value to your home’s aesthetics and long-term worth.