Replacing your home’s siding with new and improved siding can increase the value of your home by approximately 76% of the project’s cost, according to Remodeling Magazine. This means the large majority of the money you spend on the siding you can likely get back when you choose to sell your home.
This is in addition to other money-saving benefits new siding can provide, such as improved energy efficiency, storm protection, and the possibility of reduced insurance rates, among other benefits that are discussed below.
How New Siding Installation Can Increase Your Home’s Value
There are several ways that new siding leads to an increased value of your home. Of course, the appraised valuation of your home increases when replacing old siding with new siding.
Additionally, new siding improves the curb appeal for your home, which can lead to a faster sale. There are also cost-savings benefits of new siding as well, such as improved energy efficiency, added protection from weather damage, warranty and replacement coverage, and the possibility of better home insurance rates.
An Increase In Appraised Value
The primary way in which new home siding can increase the value of your home is by simply increasing the appraised home value of your home. An appraised value is an evaluation of your home’s value at a specific point in time that is derived by reviewing comparable properties in your area. If your home has new siding, then this adds value to a home that is essentially identical but with outdated siding.
So what does an increase in appraised value mean? This means that you can list your home for more than you otherwise would and still sell your home for that price, in many cases. You also have more assurance that the closing process goes smoothly as well without any setbacks related to the appraisal process.
Improved Curb Appeal
Many are familiar with what curb appeal means; this is simply a term used to describe the visual value a home has upon seeing it for the first time. The home’s siding is one of the first parts of a home that a prospective buyer notices.
While a dirty, damaged, and outdated home siding can immediately turn away many prospective buyers, newly installed and modern siding material is likely to capture the attention of the prospect at first glance, which can increase the likelihood that you sell your home faster than you otherwise would.
Improved Energy Efficiency
Most homeowners who replace their home’s siding with new siding see a noticeable decrease in their energy costs each month due to the improved insulation their windows provide. Modern siding designs are superior to siding materials from 15 years ago and are better able to keep air inside your home and avoid outdoor air from affecting your indoor temperature. Additionally, your home’s siding loses its climate control capabilities over time due to wear and tear and damage.
Increased Protection From Severe Weather
When your home’s siding starts to age and/or become damaged, then it can lead to an increased vulnerability when bad weather strikes. With outdated or damaged home siding, your home is far more vulnerable to structural damage from heavy winds and rainfall. If there are holes or gaps in the siding, then it could cause water damage and subsequent mold and rot to your home’s foundation, which can be costly to repair. New home siding that is professionally installed, however, protects your home in a far superior manner.
Warranty And Replacement Coverage
New siding usually also comes with warranty and replacement coverage as well, whereas outdated siding has in most cases surpassed the warranty coverage time frame. By purchasing from a siding contractor that offers warranty coverage for the materials and their work, you can feel confident that your siding will last for a long time. You are protected from high repair and replacement costs if anything were to happen to your home’s siding earlier than anticipated.
Reduced Insurance Costs
New siding for your home may also lead to a reduction in your energy premiums as well. Many home insurance providers offer discounts when you make your home safer from damage, such as by installing new home siding. Be sure to contact your home insurance provider after you replace your home siding (or ahead of time), and find out if they offer any discounts for the upgrade that can make your home safer.
Contact Our Exterior Professionals To Get Started
The professional siding contractors at Adelphia Exteriors offer home siding installation and replacement services to help you improve the value, curb appeal, and protection of your home. To learn more about our exterior services and how they can benefit you, contact us today. We can guide you through the process, helping you make informed decisions every step of the way.