Exterior renovation that will pay you back

Diana Bocco
Exterior renovation that will pay you back

If you're thinking about renovating your home, it's probably safe to assume that you not only prefer a remodeling project that adds curb appeal - but one that will also increase the value of your home.

Good news: You don't have to go all out to accomplish this. In fact, a simple project - like replacing your siding - could offer a big payout.

Wondering how else siding can increase the value and attractiveness of your home? Keep reading to find out.

Siding Replacement Offers Many Return-On-Investment (ROI) Opportunities

Yes, a financial ROI is probably what is most important to you when considering whether or not to replace your siding. However, depending on the type of material you choose, siding replacement could offer a variety of ROI opportunities…

Curb Appeal: If your goal is to catch the eye of a potential buyer, replacing your siding "can make your home more appealing and could sway an uncertain buyer toward your home over another," says David Leopold, owner of Pillar To Post Professional Home Inspection in Fairfield, Connecticut.

Low-Maintenance: Some types of siding, like vinyl, require little to no maintenance. Leopold adds that with vinyl siding, people don't have to make a substantial investment in painting a home every 10 years. "Avoiding that big ticket while still having a consistently beautiful home is a very appealing notion," he adds.

So, while your neighbor's paint is slowly chipping and flaking off the house, all you'll need to do with your vinyl siding is give your home a quick pressure wash to remove mildew and you're good to go, says Leopold.

Financial ROI: According to the Remodeling Magazine's "Cost vs. Value Report 2013," siding replacement has a return investment between 71.8 percent and 79.3 percent, depending on the material you choose. This is how much of your investment you'll recoup when you're ready to sell your home. Not too shabby, right?

Energy Efficiency: Insulated siding has become increasingly popular over the past few years, according to Kriss Swint, director of interactive and design strategy at Royal Building Products. Why? "Because it's still aesthetically pleasing and architecturally correct, but it has the added bonus of additional insulation that can help reduce energy costs," Swint explains.

[Think it's time to replace your siding? Click to compare rates from contractors in your area now.]

Why You Should Consider Vinyl Siding

There is a variety of siding material available, from wood to vinyl and aluminum. However, if budget is a factor in deciding which material to go with, vinyl may be the winner over the other materials, as it's not only cheaper to install, but also to maintain, says Leopold.

And while the vinyl siding of yesterday gained something of a deserved reputation for being rather unattractive, that's all over now. In fact, vinyl siding that looks like shingles has been a game-changer and is gaining a lot of traction for its beauty, ease of maintenance, and durability, Leopold explains.

What's more "vinyl siding doesn't rot and termites won't eat it," according to Leopold.

In terms of its versatility, vinyl siding now comes in virtually every desirable color and shade, and can be applied to any home, Leopold says. No matter what style your house is, there's a vinyl product that will match.

"Take for example the seemingly challenging match like preserving the details on a Victorian home," Leopold says. "Vinyl shingles are available in saw tooth and clamshell shingle patterns with vinyl dentil molding." These are designs and colors that will work with an older home and match colors and patterns perfectly, Leopold explains.

[Ready to install vinyl siding? Click to find the right contractor for this renovation project.]

Timeframe for Siding Replacement

Leopold says that a quality vinyl siding installation can be done in about the same time as a quality paint job - which is about two weeks for a typical size home. And keep in mind that vinyl siding is generally faster to install than wood siding.

That said, siding replacement is also dependant on a number of factors that include the size of your home, whether or not siding needs to be removed before installing a new one, and more.

The only way to get an exact timeframe is to talk to an expert and provide them with the specifics on your home and siding needs.