|
|
2002 Cost vs. Value Report
Siding Replacement
If the exterior of a home is in bad condition, “that’s a negotiation item,” says Columbus, Ohio, salesperson and appraiser Mark Abbott of Mark W. Abbott Realty. If it’s in good shape, it’s not necessarily a selling point, but it’s not a stumbling block either. Depending on the product and the color, new siding can change “the whole shell, the character of the house,” says San Antonio salesperson Pat Clay of Pat Clay, REALTORS®. New vinyl siding also signals low maintenance because no painting will be required, and a maintenance-free exterior is a big plus for busy homeowners today, Clay says.
The vinyl siding changeout in our project description costs $7,146 and brings back, on average, 79 percent, upon resale. PROJECT DESCRIPTION Replace 1,250 square feet of existing siding with new vinyl siding, including all trim.
| Market | Job
Cost | Resale
Value | Cost
Recouped | | National Average | $7,146 | $5,652 | 79% | | | Atlanta | 6,374 | 4,009 | 63 | | | Boston | 8,708 | 3,786 | 43 | | | Buffalo, N.Y. | 6,652 | 5,300 | 80 | | | Chicago | 8,141 | 8,404 | 103 | | | Cincinnati | 6,746 | 4,250 | 63 | | | Cleveland | 7,111 | 5,680 | 80 | | | Columbus, Ohio | 6,452 | 4,119 | 64 | | | Dallas | 5,983 | 7,250 | 121 | | | Denver | 6,053 | 3,283 | 54 | | | Detroit | 7,073 | 3,931 | 56 | | | Houston | 6,728 | 3,440 | 51 | | | Indianapolis | 6,582 | 3,916 | 60 | | | Kansas City, Mo. | 7,113 | 3,625 | 51 | | | Los Angeles area | 8,325 | 10,709 | 129 | | | Los Angeles | 8,056 | 13,542 | 168 | | | Orange County, Calif. | 8,593 | 7,875 | 92 | | | Miami | 5,787 | 4,125 | 71 | | | Milwaukee | 7,583 | 5,414 | 71 | | | Minneapolis | 8,193 | 7,033 | 86 | | | New Orleans | 5,597 | 5,044 | 90 | | | New York area | 7,459 | 6,329 | 85 | | | Passaic, N.J. | 7,396 | 7,000 | 95 | | | Nassau-Suffolk, N.Y. | 8,166 | 6,033 | 74 | | | Fairfield-New Haven, Conn. | 6,814 | 5,954 | 87 | | | Norfolk, Va. | 5,256 | 5,000 | 95 | | | Orlando, Fla. | 6,256 | 3,014 | 48 | | | Philadelphia | 7,486 | 6,498 | 87 | | | Phoenix | 7,105 | 3,250 | 46 | | | Pittsburgh | 7,185 | 4,875 | 68 | | | Portland, Ore. | 7,683 | 2,417 | 31 | | | Providence, R.I. | 7,248 | 3,600 | 50 | | | Sacramento, Calif. | 8,245 | 5,400 | 65 | | | Salt Lake City | 7,850 | 6,300 | 80 | | | St. Louis | 7,737 | 6,250 | 81 | | | San Antonio | 5,627 | 2,309 | 41 | | | San Diego | 8,281 | 6,000 | 72 | | | San Francisco area | 9,073 | 10,146 | 112 | | | San Francisco | 9,073 | 7,700 | 85 | | | Oakland, Calif. | 9,073 | 12,592 | 139 | | | Seattle | 8,052 | 5,438 | 68 | | | Tampa, Fla. | 7,015 | 13,629 | 194 | | | Washington, D.C., area | 5,967 | 4,816 | 81 | | | Washington, D.C. | 6,238 | 6,000 | 96 | | | Baltimore | 5,566 | 3,447 | 62 | | | Richmond, Va. | 6,096 | 5,000 | 82 | |
| |
|
