Does vinyl siding increase home value? A recent report by HGTV put vinyl siding at the top of the list when it comes to projects with the greatest return on investment or ROI. Homeowners can expect to recoup between 80% to over 100% of their initial outlay. Here are five reasons how it can impact the overall value of your home.
Does Vinyl Siding Increase Home Value?
There are so many different styles of vinyl siding to choose from that you are sure to find the perfect type that best compliments your home. There is a wide variety of styles, types, finishes, widths, orientations, colors, and even applications, which makes it virtually impossible for homeowners to not find a type that will work perfectly with their particular home. When your home looks great, it adds to your home’s value.
Vinyl Siding Makes Your Home More Sellable
Potential home buyers are attracted to homes that look good from the first impression, and new vinyl siding makes a home look fresh, updated and well cared for and leaves a great first impression. Buyers also like the low maintenance requirements and long term durability. These factors are why homeowners very often can recoup close to 100% or even more of what they pay for the installation of new vinyl siding when it’s time to sell their home.
It Is Possible To Install Siding Yourself
Installing vinyl siding is a lot easier than installing other types of siding, so it is a project that can be tackled by do-it-yourselfers. The panels come with a locking system so that each panel locks into place against the adjoining panel and the panels are only loose-nailed into place to allow for expansion. After the first line of panels is leveled and installed properly, the rest of the large vinyl panels can be installed with ease. This means that homeowners can save quite a bit of money by not having to hire a professional installer, but can still reap all of the benefits of a professional vinyl siding installation. Vinyl siding costs about $3 – $7 per square foot, depending on the specifics of the siding product, and installation can double or even triple the cost of the project. The more you can save during the installation process, the more value you’ll recoup once the project is completed.
Durable and Long Lasting
There’s no doubt that a major draw of vinyl siding is its durability. One reason that vinyl siding can increase the value of your home so dramatically is that prospective buyers know that siding will not need to be replaced for a long time to come, saving them money. It will withstand all types of weather elements, including temperature extremes, high winds and rain, sleet and snow. It will not be prone to damage from insects and water the way wood can be, and will not dent, scratch or rust the way aluminum siding can. It will also not require ongoing maintenance, like painting, staining, or sealing, and will only need an occasional cleaning with a hose and some mild detergent.
Add Value By Reducing Ongoing Costs
Aside from making your home look better and making potential buyers more interested, installing new vinyl siding can save you money on energy costs. This is especially true if you opt for insulated siding, which has an added layer of insulation to make your home more energy efficient, and thus, your energy bills lower. Many newer products have features that will reflect light and heat away from the home, rather than absorbing it, which can keep your home cooler when the heat is on. By lowering your ongoing utility costs, you are increasing value in your home.