Your home’s siding is it’s first defense against the freezing cold, gusting winds, snow, rain and sleet. If your home’s siding is damaged, old and worn-out than it is no longer doing its job. Not only is it an eye-sore and potentially devaluing your property, it is leaving your home vulnerable to the harsh elements. If moisture gets in, it can damage other components of your house and promote the growth of mildew and mold.
If your home needs new siding, it isn’t something you should put off too long. The longer you wait, the more your home is exposed to the weather, making it more likely to require expensive repairs down the road. Plus, a siding replacement has a great return on investment.
Siding replacement has a good return on investment.
Most exterior renovations have a good return on investment, meaning that they recoup a lot of their initial cost at resale or by adding that much more value to your property. Siding has one of the best ROIs.
Cost vs. Value
According to Remodelling Magazine’s Cost vs. Value report for 2018, a siding replacement will recover almost 77 per cent of it’s installation cost. That means that if you spend $15,000 on a siding replacement, you can expect the value of your home to increase by at least $11,500. They base that estimate on replacing approximately 1,250 square feet of existing siding with new, including factory trim at all openings and corners.
Increase Resale Value
In addition to the return on investment, you can also add that beautiful new curb appeal to your home’s value. How your home looks from the outside and the first impression it makes can either attract or repel potential buyers when you are trying to sell you rhome. Having an attractive, clean and updated exterior can help attract more qualified buyers and bring in more competitive offers.
Improved Energy Efficiency
New siding installation can be a good opportunity to add exterior insulation to your home’s walls, improving your home’s energy efficiency by providing a better thermal barrier between the inside of your home and the cold outdoors. Preventing heat from escaping in the winter and hot air from getting in during the summer will reduce the strain on your heating and cooling system and cost you less to keep your home comfortable. A siding replacement can help you save on your energy bills.”
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