How much does replacing siding on your home help increase the value?
Question:Older home with alum. siding now.
Answers:
It will increase the value of the home; however, it depends on the size of the home, the area it is located, and, of course time value of money. My area, a total remodel of 2000 sq ft home increased the value about 20% over a "slightly dated" home.
In another words, house was purchased for $110,000 3 years ago. House is located in booming oil field town and it was appraised for $175,000 (time value of money). Spent $25,000 on improvements this year. House then appraised and sold for $210,000
210 - 175 = 35
(35 / 175) * 100 = 20%
Or you can figure just the improvements, which is what I think you're trying to figure.
35 - 25 = 10
(10 / 25) * 100 = 40%
You should keep in mind that most of the money went into the kitchen and baths, which has a higher return.
Paint is cheap. If not damaged paint it.
I know that the house would sell faster if it has vinyl siding. This is a great feature to have because it eliminates having to PAINT the house.
it is amazing to me that people will buy something that looks good but may be inferior.
aluminum siding was a bad idea. it dents easy and has noooo insulation value. putting new siding on your house will greatly increase it's value. i suggest hardy plank.
edit: never being able to paint your house is depressing.
Is there anything wrong with the siding??
If its in good/decent shape, replacing it will probably cost more than any added benefit you will get from something else, ie stucko, wood, etc...
It depends a lot on the market you are in. Also if the existing siding is in good shape it probably would not pay off.
No matter the part of the country you are in remodeling a kitchen or bath is where the money is.
If the siding is faded just paint it to give a new look.
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