Updating the siding on your home is a major undertaking. It isn’t going to be cheap and your home will be a construction zone for a while. In most cases, it will not increase the value of your home. So, how do you know if installing new siding is a good investment? Let’s look at four things you need to consider.
#1 What Is Wrong With What You Have
Why do you want to update your current siding? If your current siding is falling apart and in disrepair, putting on new siding is usually a good investment. It will protect your home from the elements, while also preserving its value by preventing deterioration.
Replacing exterior siding purely for aesthetic reasons is not considered a good investment. You will not recoup the cost if you were to sell within the next couple of years. Instead, consider updating the trim color or painting the siding itself. You get a new look without investing a lot of money on the project.
#2 How Long Do You Plan on Staying in the Home
How long you are going to be in the home plays a part in determining if you are making a good investment in replacing the siding.
If your plan is to sell in the next couple of years, sprucing the exterior up with paint may be the more cost-effective investment. If the siding is in disrepair and needs to be replaced, the better option is to replace it with a low-cost siding product made from vinyl. It will give your home a brand-new look, which will work in your favor when you put it on the market. It’s best to go with a popular neutral color which will attract potential buyers.
If you plan on staying in your home for at least a few years, then you have more options to consider when replacing your siding. Steel, L.P., or James Hardie may cost more, but they also last longer than vinyl. You should consider the color carefully as it will impact your future resale options. However, you can be a bit more free in what you choose.
#3 How Much Maintenance Do You Want
Modern siding materials are made to withstand the elements for years without losing their looks. However, despite their durability, siding requires a bit of maintenance to keep looking as good as possible.
- Vinyl requires little maintenance. An occasional cleaning with a garden hose will help keep it looking its best. The downside to vinyl is it can fade over time and is difficult to paint. You may find the south side of the house fades faster than the others due to direct exposure to the sun.
- Steel siding, with a ceramic finish, needs little maintenance as well. Like vinyl, an occasional spray of the garden hose will keep it looking good. The ceramic finish provides a durable color which won’t fade.
- Fiber cement products like those from James Hardie require little maintenance day-to-day. It comes in a number of colors. However, to keep them looking fresh, you will need to paint the siding every 10 years or so. The material takes paint quite well so application isn’t a problem.
#4 What Fits into Your Neighborhood
Your siding does not determine the value of your home. The value is determined by the properties around you, the neighborhood itself, and the current real estate market. However, your choice of siding can make a difference in how well your home stands up in the current market.
Siding in poor condition will lower the value of your home because it will require the next owner to make repairs or do a complete replacement. Replacing worn out siding will give the next owner one less thing to worry about, which can be a real selling point.
If the homes in your neighborhood are mainly clad in vinyl siding, upgrading to steel or fiber cement siding is a risk. Going with a higher-end product won’t necessarily add any value to the home itself, but can make your home look updated and fresh.
These factors can help you determine if replacing your current siding is a good investment to make. Before you make a final decision, it’s a good idea to talk with a siding professional to discuss options. You may find your siding only needs a good cleaning and a few repairs to make it look good again.
Contact Midwest Exteriors Plus today. We are happy to give you a professional assessment of your current siding and to give you our recommendations.