2006-09-28 03:30:24 · 6 answers · asked by j 1 in Home & Garden ➔ Other - Home & Garden
There are actually two parts to this question. The first is, "If I spend $5,000 for new siding on my home, will I get my money back if I sell my home?". The second is, "If I spend $5,000 for new siding on my home, will I not only get my $5,000 back, but will the value be increased beyond $5,000?"
Every year, a trade publication available to those in the business called "Remodeling Magazine" teams up with the National Association of Realtors in order to publish their "Cost vs Value Report". They look at many types of remodeling projects and rate them in different markets. They answer the questions posed above. They assume that the home in question will be offered for sale no more than a year from the time the improvement is made, otherwise any increase in value could be attributed to other factors.
Since vinyl siding is such a popular home improvement project, it is rated every year. Without exception, a vinyl siding project results in a "no" to both questions in every market in which the survey is done. Vinyl siding does better in some markets than it does in others, but in the end, it will not increase the value of your home and you will not get all of your money back when you sell. For all the detailed information that may pertain to your area, type "cost vs value" (include the quotation marks) in the Yahoo search box. There are several websites that offer reprints and expanded information regarding these articles. I am sure you will find them very interesting.
In the end, you may not get all of your money back, but new siding will probably enable you to sell your home quicker if you decide to do so. A attractive home, in good condition, will usually sell quicker than one that is in disrepair.
Good luck with your home improvement projects.
2006-10-02 02:26:53 · answer #1 · answered by exbuilder 7 · 9⤊ 0⤋
It depends on what kind of shape the original siding is in, if it is in good shape and can be refinished a good paint job would increase the value of the home and you wouldn't need to go to the expense of new siding especially if you are just fixing up the house for resale, the things that bring the most money as far as resale are updated kitchens and bathrooms and lighting, so I would invest in these areas and paint the house if the siding is in good shape. Just repaint the outside and landscape nice.
2006-09-28 11:46:49 · answer #2 · answered by judy_derr38565 6 · 0⤊ 0⤋
I agree that it increases the value of your house significantly. You should pick a siding that would be virtually maintenance free. It would make a very good selling point.
I will be re-siding the top storey of my house next summer. Presently it is wood siding, which has white peeling paint. I am going to cover over the old siding with a one inch foam board, then put up vinyl siding in a sage green colour. Then replace all the windows. I expect the resale value of the house to go up at least $20,000 once the work is completed.
Curb appeal is ALWAYS the most important factor in selling a house, because those first impressions really count with buyers.
2006-09-28 11:04:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It makes your home more maintenance free. Siding comes in all colors and textures now and can greatly improve the appearance of your house. Unless you live in a historic building or an architectural treasure it's probably the best bang for your buck option.
2006-09-28 10:39:11 · answer #4 · answered by workingclasshero 5 · 0⤊ 0⤋
Probably not much unless it makes the house look better.
2006-09-28 10:38:16 · answer #5 · answered by Holla 4 · 0⤊ 0⤋
depends on where you live. and what kind of siding you put on it and how good it looks. talk to a real estate agent or someone in your local appraiser's office about that
2006-09-28 10:32:16 · answer #6 · answered by dixiegirl687 5 · 0⤊ 0⤋