While a roof replacement was on the lower end of ROI, we noted that value of a roof replacement goes beyond return on sale, particularly in cold climates where ice dams can prove an expensive occurence.
Meanwhile, the study shows that a siding replacement on a Twin Cities home has provided among the highest ROI in the last year for “mid-range” projects and was unmatched in cost recouped at sale for “upscale” projects.
Minneapolis St. Paul area homeowners selling a home with a recent mid-range vinyl siding replacement were shown to recoup 63% of the average $11,200 project cost at sale, according to 2010-11 data from Remodeling Magazine.
A similar return was received by homeowners who had recently undertaken a foam-backed vinyl siding replacement, an average cost of $13,800 which was considered an upscale project.
Interestingly, the figures showed an even higher return — just shy of 70% — for homeowners who elected to user fiber-cement siding in their replacement. In the study sample the cost of the fiber-cement siding replacement was in line with the foam-backed vinyl project.
What all the figures show is that replacing your home’s siding — which is a key component to “curb appeal” for home buyers — provides a strong return on investment.
One key to making a siding replacement project work well is finding the siding contractor that best fits your needs. That usually comes with experience.
If you are considering hiring a siding contractor consider calling AskAMEK, which has been replacing home siding in the Minneapolis St. Paul area since the mid 1990s.