You’ve probably heard how crazy the housing market is, but just wait until you hear this story.
Chris, a close family friend of ours, recently sold his home. Before talking with a realtor, he was worried about listing it. He’s lived in the same house for the past 40 years. How we buy and sell homes has changed dramatically in an internet age!
“What if it sits on the market for months?” he asked.
But after talking once with a realtor? The home sold for $5,000 over asking price, before he even listed it.
Chris’s story isn’t an outlier- it’s the current norm. In fact, Schuylkill County homes are, on average, worth 19.3% from last year.
Let’s zoom out, too. According to The National Association of Realtors, the first quarter of 2022 showed single family homes are worth 15.7% more year over year.
Some say this bubble will burst in 2023. Others say while buying and selling will slow with rising mortgage rates? Home values will remain high.
These trends can leave homeowners feeling just like Chris did- anxious and overwhelmed. But while you can’t control the market? You can protect the value of your investment.
In this first part of a three part series, we’ll explore the role your home’s exterior plays in your home’s overall value. We’ll also highlight
- roofing and siding,
- the best time for a replacement,
- and the best materials to select when you want the greatest addition to your value.
Before we get too far ahead, let’s take a look at the key role your exterior plays in your home’s longevity…
“Does Exterior Contribute To My Home’s Value?”
If you’ve read any of our previous resources, you know how often we bring up the importance of curb appeal. But caring for your home’s exterior does more than make a good first impression.
Your exterior is the face of your home and its first line of defense.
We often say some of the most important home systems are ones we don’t think about until there’s a problem. That is why we encourage our clients to think about preventive maintenance- and longevity of materials- when we install a new roof or replace a home’s siding.
Your gutters are a perfect example of this.
Smart homeowners know their gutters need to be cleaned twice a year. This is regular maintenance with a huge impact. When your gutters are clogged, it can lead to:
- Ice dams in winter
- Cracks in your foundation (and water damage in your basement)
- Siding rot
This one small system is responsible for the safety of your entire home!
In a nutshell? Exteriors are critical to the health of your home. So, what does that mean for your home’s ultimate value?
Do You Know The BEST Age To Replace A Roof?
Heard the saying, “if it’s not broken, don’t fix it?”, right?
Unfortunately, the sentiment doesn’t carry over to your roof. A standard asphalt roof will last 25-30 years, but will often start to show signs of wear before this time.
Even if your roof makes it to its 30th birthday without damage, that doesn’t mean you’re in the clear.
Ask yourself these two questions:
- When does your roof warranty end?
- What are your long term home plans?
While some roof warranties last for 50+ years, most only cover the first 25 years. While your roof may not be leaking right now, if it’s older and still under warranty? You might consider replacing it before you lose access to that resource. A qualified roofing professional will be able to assess the strength of your roof and give you a good estimate on how much life it has left.
You should also know your own ten year plan. If you plan to remain in your current home, you may be able to stretch out until closer to your warranty’s end.
But if you plan to sell? We recommend replacing your roof first for the best return on investment.
Ready for a new roof? Here’s the best material choices to maximize your investment:
Asphalt VS. Metal: Short Term and Long Term Solutions
The best thing you can do when planning for a new roof? Know your budget. But this also comes into play when calculating how to maximize your investment.
But before we delve too deeply into this, let’s have a brief refresher on return on investment (ROI).
Your ROI refers to how much money you’ll get out of what you put in. Take a kitchen remodel, for example. Full-scale kitchen remodels have an average 53.9% ROI. If you spend $25,000 on the remodel, you’re increasing your home’s value by about $13,500.
Different roofing materials have different ROIs.
This circles back to the importance of knowing your ten year plan. If you’ll remain in your current home for the long haul? Metal roofing is the best use of your investment. Metal has:
- 70 year lifespan
- Class A fire rating
- And one of the strongest defense against harsh weather
But if you plan to move? Metal carries a higher price tag than asphalt… and a lower ROI.
Metal has an average 60.9% ROI. Asphalt, on the other hand, has a 68% ROI, And when it comes to price? Metal costs $6-$13 per square foot, whereas asphalt runs between $5-$8.
To summarize, asphalt is the best short to mid-term stays….and metal is best for your forever home.
If you’d like more information on pricing, we’re happy to offer a free roof evaluation and estimate to get the ball rolling on your next investment.
Next, let’s apply these same questions to the rest of your home’s exterior.
Strengthen Your Home’s Armor
Your siding is like a suit of armor. It protects your home from water damage and pests. Weak points along your siding don’t just threaten the outside, they put the inside at risk.
Siding deviates from roofing when it comes to warranties. Most vinyl siding carries a 50+ year warranty, despite its average 30 year lifespan. This means your warranty will most likely outlive your vinyl siding.
However, you still might not want to ‘wait it out’. The costs of damaged siding can add up over time.
If you’ve noticed:
- Increased energy/power bills
- Small warps in the siding
- Loose or missing shingles
These are all warning signs your siding is beginning to fail.
The difference between an early replacement vs. late stage isn’t just having a home that looks nicer. It’s saving countless hours of frustration and thousands of dollars in repairs down the road.
Choosing Siding Materials Like a Pro
When it comes time to replace your siding, ask these two questions:
- What’s the best siding for your climate?
- Which material matches your home’s existing style?
Climate plays a huge role when it comes to any exterior upgrade- but especially siding.
Here in Schuylkill County, we know the importance of a solid raincoat! All joking aside, due to the high levels of precipitation our area receives, we work with and recommend Ply Gem’s siding to combat high rain levels. Their Quest line is incredibly strong with wind resistance as high as 190mph!
And while other materials like stone veneer and slate may have longer lifespans, vinyl is generally the most practical option for our clients.
The other thing to consider is your home’s style. While we don’t often recommend wood siding, some historic neighborhoods require it. If you’re matching the aesthetic of a historic home? Check out this home’s use of imitation cedar shake:
It has the look of real cedar shake for a fraction of the cost.
A second budget friendly exterior option is manufactured stone veneer, like on this home:
Another way to spruce up your home without breaking the bank? Utilize different siding materials for a mixed facade. This gorgeous home is a perfect example of this:
Interested in talking more about the right color or style for your new siding? We’re happy to help! We utilize GAF’s visualization software to let you see your home in a new look. You can view multiple options before we even order the materials!
Start Protecting Your Home’s Value
The housing market will always have its ups and downs. Isn’t it comforting to know your biggest asset is protected with a smart and solid exterior?
If you found this information insightful, make sure to read the next two installations in the series! Next, we’ll take a look at how to plan financially for taking on big projects.
And as always, if you’ve noticed signs of wear on your roofing or siding, give us a call at 570-345-0436. We’re happy to assess your exterior, and offer expert advice on your next installation.
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