Photo by @musiena on Twenty20
Some home improvement/repair projects are necessary regardless of cost, such as installing a new hot water heater when the old one stops working. Others, such as updating the kitchen or windows, are more a function of having the money to do so-and how much they add to a home’s value when it comes time to sell.
According to the most recent “Cost Vs. Value Report” published by Remodeling magazine, the most cost-effective remodeling job is redoing the bathroom, with an estimated 102.2 percent of costs recouped in the home sale. But the number-two project may surprise you: siding replacement.
The report found that, when mid-range siding products are used, homeowners can expect to get 95.5 percent of costs back when they sell. For upscale siding, the expected payback is even higher: 103.6 percent.
And while many indoor projects have fluctuated in their overall value-between 2002 and 2005, bathroom remodels have recouped as little as 79.1 percent of costs-siding has been a relatively steady earner, increasing in value each year over that period.
In addition, since the exterior of your home is the first thing people see, the charm and character that show through with quality siding speaks volumes about the pride you have in your home. The decision to re-side your home is, more than likely, one you’ll make once and live with for a long time. That’s why it’s so important to get all of the facts and make the right siding choice.
If you are thinking of remodeling your bathroom or kitchen, call New Refinishing.