Will adding new siding help me sell my home for
a higher price, or is siding not an important
part of buyer's consideration? We are thinking
of a natural cedar siding or other solid-wood
The good news is that siding replacement continues
to pay back as much or more per remodeling dollar
spent in a home's resale value than any other
major improvement. So, yes, it is obviously one
of the most important elements in a prospective
home-buyer's view. The bad news is that on average,
you will be getting back less than 90 percent
of the money you spend on the project, according
to the latest Cost vs. Value Report by RemodelingOnline.
a few years ago, cost-value reports showed that returns for an upscale siding
replacement were a desirable 103.6 percent. The latest report, however, based
on interviews with nearly 2,200 Realtors in 2006, shows an average 88 percent
return on resale value for an upscale siding replacement using fiber cement and
83 percent using foam-backed vinyl. For a midrange job using vinyl siding, average
payback is 87.2 percent.
These estimates were all based on
the replacement of 1,250 square feet of existing siding. RemodelingOnline attributes
the lower payback to the softness in the housing market and a more efficient calculation
of all the labor, materials and subcontracting involved in such jobs.
this mean you shouldn't add siding? Not necessarily. Since you plan to sell soon,
curb appeal is of the utmost importance right now. That means the condition of
the house's exterior (your current siding or lack of it), along with your home's
landscaping and entryway should be optimal and inviting. In other words, if the
exterior is in bad shape, you may still have to side it to sell it, even if it
means getting back only $8,700 on a $10,000 investment. Such are the economics
of the current buyer's market.
I'd urge you to reconsider your
choice of siding materials, however. Most solid-wood siding, while perhaps not
significantly more expensive than other top-of-the-line siding products, must
still be stained or painted, and that staining/painting can add thousands of dollars
to the final job cost. In the case of the cedar you mentioned, the siding may
age to four different shades on four different sides of the house over the years
if not treated. Even when stained, cedar is known for fading in the sun after
several years, although heavier-bodied stains offer greater UV protection to help
Still, if you are planning to sell soon, why take
a chance with wood and a buyer who may be scared off by potential fading problems?
I couldn't fully "side" with your material choice here. I do wish you
success on your sale.