richmond va siding

Will New Siding Actually Boost Your Richmond Home’s Resale Value?

Among the many motivations Richmond homeowners cite when planning exterior renovations, from aesthetic refreshment to fixing functional issues, the prospect of recouping money spent through elevated resale values down the road remains high on the list.

But does investing in new siding directly cause properties to sell for higher dollar amounts versus similar homes with older exteriors?

Or is the boost more subjective?

Let’s analyze what the data and experts have to say.

Total Costs – The Siding Investment Equation

Creating realistic value recovery expectations first requires tallying total outlays for new siding installation or full replacement projects.

With materials, labor, prep work, permits and miscellaneous costs, homeowners face one-time expenses ranging widely:

– Minor siding repairs: $2,000 – $5,000+

– Partial siding replacement: $8,000 – $15,000

– Full exterior re-siding: $15,000 – $30,000+

Variables like specialty materials, extensive structural damage, multi-story heights, and finish upgrades shift budgets up or down as well.

Thankfully, new siding delivers immense longevity barring any major incidents over decades ahead.

And brands offer material warranties against early defects further protecting investments.

Measuring Added Property Value From Siding

Isolating the exact market value lift generated by siding upgrades poses challenges since exterior projects often pair with other improvements collectively boosting appeal.

However, a Realtor survey by Houzz sheds light:

– 84% of agents said house flipping projects offering the best resale value returns come from boosting curb appeal facelifts targeting the exterior.

– 70% of agents specifically cited siding replacement as a smart renovation strategy before selling.

Beyond the nationwide consensus viewpoint that new siding directly correlates with buyers paying higher offers, research analyzing hundreds of thousands of sale listings found:

Homes with new siding sold for 7% more on average – equating to nearly $30,000 in value lift for the average Richmond home selling for $450,000.

Factor regional market demand, comparables with/without refreshed siding, plus property condition biases and the boost calculated stays consistently positive if expectations remain realistic.

Home Inspection Expert Tips on Maximize Siding Project ROI

Seeking professional perspectives on the savvy way to frame siding investments for ideal value returns over time, we checked in with Bryant Hause of America’s Home Inspectors – serving the Richmond metro area:

“Always think permanent quality first – whether renovating simply for enjoyment or strategizing future selling positions.

Materials, detailing and installation matter tremendously, determining durability performance outcomes 30-40 years down the road.”

This sensible outlook explains why cutting corners trying save just a few dollars on the front end often harms net property value far greater long term.

Think tortoise pace wins the race navigating decisions.

Bryant also reminds homeowners that new siding does more than just boost aesthetic appeal and theoretically enable higher sales prices way down the road.

Upgraded insulation and weatherproofing provide energy savings paying back through every monthly bill too.

Rest Easy Making an Exterior Investment into Your Biggest Asset

While no model or matrix plots the perfectly projected home value increase months or years ahead after siding installation work wraps up, solid evidence supports noticeable jumps.

Combine that data-driven upside with improved living comfort and peace of mind from greater structural integrity and moisture protection, suddenly projects feel like savvy proactive moves.

To discuss siding needs for an upcoming refresh or areas causing current concern, contact our team at Richmond General Contractors anytime for a free consultation at (804) 587-5221.

Let us take care of the science and planning pieces so you can simply enjoy trouble-free exteriors for decades ahead.

With critical steps done right the first time, we have full confidence your siding will maintain peak performance year after year

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