Does New Siding Increase Home Value?
The value of your house is most often not the price you will be getting for it. What you get for your home is based on the buyers’ first impression of your house, and in a down market, an excellent first impression can have your buyer offering your asking price. And the first thing that your buyer will see as they walk up the driveway to your house is its exterior. If your siding is obviously in disrepair, you are turning off your buyers at their first glance of the home. In most cases, this means that no matter how well the inside looks, they will still be thinking about how they will have to replace siding when purchasing the house, and so they will want to go in with a lower offer to recoup that possible expense if they make an offer any at all.
So if you want to increase the chances of selling your house, you may need to replace the siding. Even if it doesn’t add to the amount of money you receive for selling your home, it could be the difference between your house getting sold or staying on the market for years.
Here’s why new siding is often the most valuable improvement you could make:
1. Energy Efficiency in your home
For many homeowners, energy efficiency alone is a good enough reason to take on a siding replacement. Mainly if your siding is quite dated or ill-fitting, replacing it can make a big difference on your monthly heating and cooling bills. This same insulating power often seals out noise from the neighborhood as well—giving you two benefits in one!
2. Property Value
Let’s start with perhaps the most significant reason you may want to replace your siding: it adds considerable resale value to your home. a siding replacement increases property value by around 70% of the total project cost on average.
For example, if you spend $10,000 on a vinyl siding replacement, you can expect your home’s value to increase by roughly $7,000. This strong return on investment is even higher for premium siding materials like fiber cement, and it represents one of the best in the entire remodeling industry.
3. Curb Appeal
In addition to property value, a siding replacement offers the immediate benefit of boosted curb appeal. Since siding comprises such a considerable portion of your home exterior, replacing it with something more modern can genuinely transform the look and feel of the entire property.
Pro Tip: If you plan to resell your home, be sure to choose a siding color that suits your neighborhood and home style just as well as your taste.
Need Tips for Replacing Your Siding? Contact Everlasting Today.
If You need help, please, feel free to call us, and we’ll set an appointment for you.