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How Much Value Does Vinyl Siding Add
When considering home improvement projects that will give you the biggest "bang for your buck", vinyl replacement siding ranks up there near the top of the list. The return on investment of installing vinyl siding is high and if you are planning on selling your home in the near future, replacing your current siding with newer vinyl siding can be a smart investment.
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Vinyl Siding Home Value
When it comes to selling your home, one of the first considerations a potential home buyer will look for is the curb appeal of the home. By adding new siding to your home, you can breathe new life into your home and greatly increase the home's curb appeal. Since vinyl siding is an affordable choice for home exterior options, it can give you a big return on the money you spend when it's time to sell. Vinyl siding not only increases the aesthetic beauty of your home, but it is also a practical and functional choice as well. Vinyl siding prevents water damage to your home, requires virtually no maintenance, and some of the newer insulated vinyl products even make a home more energy efficient.
If you want to increase your home's value when it's time to sell it, then you need to invest some money in it first. Just as in business where the motto is that you have to spend money to make money, the same concept applies when it comes to the investment in your home. By spending some money up front to make your house as appealing as possible to potential home buyers, you will increase the sale price of your home and the value of your home in other people's eyes. The good thing about choosing to add vinyl siding to your home as a way to increase its value is that vinyl siding is a relatively affordable choice.
One of the reasons that vinyl siding replacement has such a big return on investment is that it is one of the first things you see when you look at a home. The condition that a home's exterior is in makes a big impression on others when they first approach your home and is a big selling point. By updating the look of your home in comparison to your neighbors' homes, you make your home more desirable and it looks like the entire home is better cared for. This has a big effect on possible buyers.
Costs for vinyl siding can vary depending on the type of siding you use, the manufacturer, the color choice and other factors, but overall the cost of vinyl siding is lower than other exterior siding options such as wood, brick, stone, or stucco, among other options.
One of the more expensive vinyl siding options is vertical vinyl siding. Vertical siding is similar to traditional siding, except that the slats run vertically instead of horizontally. This helps move water down and away from the home so that water does not sit and potentially cause any damage to the home. Vertical siding, like traditional siding is easy to install and virtually maintenance free. Another more expensive, but very desirable siding option is insulated vinyl siding. This provides not only a new look for your home but added energy efficiency as well and helps to lower your energy bills.
When it comes to deciding what type of siding to use as replacement siding, you have a few options. There is traditional vinyl siding, foam backed or insulated vinyl siding, fiber cement siding and aluminum siding. Traditional vinyl siding is probably the most economical choice. Insulated or foam backed vinyl siding, or fiber cement siding, are sometimes more preferable, but any of them are a good choice. Aluminum siding is not nearly as popular as it once was, and another benefit to not having aluminum siding is that you don't have to worry about people stealing your siding to sell for scrap aluminum at the salvage yard (yes, strange as that may sound, it has been done quite often).
When it is time to sell your home, you can expect to recoup almost all of the money you invest in your new vinyl siding. In some cases, you can recover 100% of the money that you invested in your home. The
average ROI (return on investment) for vinyl siding is typically in the 80% - 90% range, but there are also times when you can recoup even more money than you put into the siding project if the difference in the look of your home or the insulation value is that drastic.
Traditional vinyl siding has an average ROI of around 81%. That means that if you invest $10,000 in residing your home, you can expect the home's value to increase by around $8,100. Foam backed or insulated siding is an increasingly sought after choice due to its added energy efficiency, and thus has a slightly higher ROI. Potential home buyers appreciate the added efficiency, which will translate into lower energy bills when insulated vinyl siding is installed. You will have the added benefit of enjoying those lower energy bills during the time that you own your home, as well.
Fiber cement siding, which used to be more sought after than vinyl siding, has a ROI of around 87%, which is still higher than traditional vinyl siding but is lower than in years. Even so, this is still an attractive return on investment. There was a time that fiber cement siding had a ROI of 100% or more, but more and more homeowners are becoming increasingly interested in the energy efficient benefits of insulated vinyl siding and are willing to pay more for a product that not only makes a home look more attractive, but adds to the energy efficiency of the home as well. Vinyl siding also has other benefits over fiber cement siding as well, such as being certified for quality and environmental criteria by a third party agency, which has resulted in dramatic improvements in the product.
When it comes to adding value to your home, there are many options you can consider. Improvements such as paint, new carpet and similar improvements have always offered a good return on your investment when it is time to sell your home. They don't cost much money but make a big impact on the look of your home and how well it has been cared for and maintained. Similar to the impression that new paint and carpet can make when you step into the interior of a home, replacing your home's exterior siding with vinyl siding can achieve the same purpose on the outside. Without a huge outlay of money, you can update the look of your home, make it look more attractive and well maintained, and can even add to the eco-friendliness of your home, which is an increasingly important factor to many potential homebuyers.
So, when you are ready to put your home on the market and are making your list of home improvement projects that should be completed before the process begins, replacing your vinyl siding should be on the list of projects if your current exterior siding looks like it can use a facelift. The improvement will make a big impression to homebuyers, will help you to sell your home and will increase the value of your home.