Does New Siding Increase the Value of Your Home?
The housing market has absorbed enormous change over the past few years. The shift to remote and hybrid work for many businesses had led to large-scale migrations away from urban areas. Many young families have capitalized on their opportunity to invest in their first homes, and the resulting surge in demand has elevated prices across markets.
In 2022, as the market begins to temper, Americans have become more aware than ever about the factors that affect a home’s value. Buyers and sellers alike are on the lookout for green and red flags that can indicate that a home is in solid condition.
New siding is one improvement that can increase the value of your home. When done right, replacing your siding can pay for itself. Here’s why.
Siding Wears With Time
Just like any exterior element of a home, siding will experience wear and tear. Water, hail, wind and UV exposure can cause siding to warp, crack, or succumb to mold and dry rot. Especially if the siding was not originally installed by a qualified siding contractor, it may need an update to be structurally sound. Siding is instrumental in the process of insulating your home from precipitation and temperature extremes, so damaged or worn siding can lead to water damage and higher electric bills.
For these reasons, replacing your siding can add significant value to your home. Prospective buyers will feel more comfortable investing if they know the exterior is in excellent condition and the home is properly insulated.
New Siding Adds Curb Appeal
When deciding whether to make an offer on a home, buyers are strongly influenced by first impressions. Regardless of age, new siding can increase the value of a home by serving as a crisp and attractive outer shell. By setting an aesthetic theme with a polished new look, siding can evoke positive feelings that leave buyers wanting to explore further.
How a home looks from the curb has a huge impact on its perceived value to buyers. By simply and affordably replacing your siding, you can augment that value.
Replacing Your Siding Could Be Covered
Not only does the cost of new siding often pay for itself by increasing the value of your home, but the actual cost can sometimes be partially or completely covered by your home insurance. If your home was damaged by wind or hail, your siding contractors can work with your insurance company to strive for the lowest out-of-pocket expense possible. By decreasing the amount you pay, the value of replacing your siding skyrockets.
MNRC – Your Local Minnesota Siding Contractors
Increasing the value of your home with new siding can be simple, easy and cost-effective. If your siding has been damaged by a storm or simply needs an update, the qualified team at MNRC stands ready to help. We have the experience and product expertise to answer all your questions as your dedicated Minnesota siding contractors.
We focus on developing long-term relationships with our customers so we can provide you with top-tier solutions for life. Over the years, we have received dozens of positive reviews for our commitment to excellent service and support – and we want to help you, too. Contact a friendly siding contractor today to schedule an inspection.