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For most Hoosiers, the biggest purchase they’ll ever make is a home, which could yield a significant return if they decide to sell it after a few years. During the last year, home values in Indiana have increased by 16%

In 2022, Indiana became one of the hottest housing markets. Strong buyer demand and low mortgage rates continue to fuel home prices, making it an opportune time to be an Indiana homeowner. 

These favorable market conditions encourage Indiana homeowners to leverage the different ways they can reap larger returns. A recent industry survey reveals that potential homeowners will pay 7% more for homes with better curb appeal. Making home improvements is often a smart investment, but some renovations are more valuable than others. One study showed installing new vinyl siding on your home can increase the home value enough to offset 68.9% of the cost, while a most recent study showed an 82% offset

But how does a new siding increase home value? Let’s take a closer look! 

Does New Siding Increase Home Value?

The short answer is yes. Amidst the shifts in the home buying process due to the pandemic, a new siding installation is among the top three exterior remodeling projects that provide the biggest return on investment. 

In 2021, 97% of homebuyers used internet searches to look for a new home, making it essential to showcase eye-catching pictures that highlight the property’s curb appeal. By investing in new siding, Indiana homeowners can spruce up their home’s appearance and boost its value. 

While the answer to the question “Does new siding increase home value?” is generally a yes, you’ll still need to choose your siding carefully. The project’s expense can vary depending on your product choice, home’s size, location, and installation process. Here are some of the factors that affect the value you get out of a new siding project: 

  • Trends: Real estate, like any industry, goes through many trends. You can maximize the value of your investment by checking out what is currently in demand. 
  • Your Neighborhood: Potential buyers might want to ensure that the home they invest in suits the neighborhood’s look and feel. Check the siding materials incorporated in nearby properties to make sure you are up to date with specific area trends.
  • Climate: Indiana has a humid subtropical climate with strongly marked seasons. Homeowners should opt for a siding material that can withstand extreme humidity and bitter winters. 

The kind of siding you install is the biggest factor affecting the project’s potential return on investment. Among the different siding options available, vinyl siding remains one of the top material choices among homeowners. It provides many key benefits, from durability, versatility, and added insulation. Since the vinyl siding installation process is quick and simple, it also helps homeowners reduce upfront labor costs.

So how much value does vinyl siding add to a home? According to the 2022 Remodeling Report, homeowners can recover 82% of their investment by opting for vinyl siding. 

Before and after installing red siding

How Does New Siding Increase Home Value?

Industry data reveals the positive impact of a new siding installation on the value of your Indiana home. This home renovation endeavor provides the beauty and style potential buyers are eyeing, helping you get the best return on your investment. Here are the top ways a new siding boosts your home value: 

1. Boosts Your Property’s Curb Appeal

If you plan on putting your home up for sale, keep in mind the first impression is crucial. Curb appeal can contribute 7% to a home’s selling price and up to 14% in some real estate markets. The initial glimpse of your property’s exterior can affect buyer perception and set their expectations. Compared to other home exterior improvements such as windows and roofing,  newly installed siding impacts your home’s exterior more profoundly. 

How does vinyl siding add home value through curb appeal? This material comes in various colors, textures, and architectural trims. They can mimic the look of different accents, including stone, wood, and slate. Regardless of your home profile and unique aesthetic preferences, you’re likely to find the best vinyl shade and style to boost the appeal and value of your home. 

2. Protects the Home from Harm

Although a new siding installation can significantly boost your home’s curb appeal, the upgrade does much more. Alongside the roof, your home’s siding serves as your property’s defense against external forces. These include extreme weather conditions, mold, water, and other elements. A new siding will put a potential buyer’s mind at ease, knowing their family and belongings will be safe.

Vinyl is one of the most durable materials available on the market. Its outer layer provides a UV shield that prevents it from rotting or swelling. In addition, during inclement weather, the siding is designed to absorb the impact of wind, hail, and water. As a result, your home is protected from storm and water damage, which are essential protections homebuyers pay attention to. 

3. Improves the Overall Structural Integrity of Your Home

A new siding installation entails the replacement of old, worn-out siding. Aside from eliminating obvious damage, such as gaps and sagging, this process can also help you uncover hidden issues that compromise the structural integrity of your home, such as moisture damage. This means less hassle for your potential home buyer, and peace of mind. 

Buyers may be put off by the worn siding and the thought of having to replace it themselves. Selecting the best color, material, and contractor for the job can be an added stress for someone moving to a new home. 

4. Promotes Better Energy Efficiency

New technologies improve the energy efficiency of today’s available home improvement materials. For example, if your siding is more than 20 years old, it is unlikely to provide your home with the best energy efficiency features. Upgrading to a new siding can help you leverage these new technologies, reduce energy bills and improve your home’s comfort significantly. 

Siding options nowadays come in insulated variants to help homes reduce utility costs. For example, insulated vinyl siding options feature solid rigid foam insulation backing, making the material more resistant to warping while also adding R-value to the material. 

Aside from comfort, it can also reduce noise levels and create a better defense against termites and pests. With better insulation, you enjoy increased home value and maximize your home’s selling potential. 

Ready to Invest in New Siding?

After learning the answer to the question, “Does new siding increase home value?” the benefits should be clear. If you’re ready to experience the benefits of a new siding installation, contact DMG Exteriors today! 

For over ten years, we have assisted homeowners across Indiana in upgrading their homes’ exteriors. We provide reliable services, top-quality materials, and exceptional customer service. Reach out today for a free estimate or to learn more about our different financing options available! 

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