Do I "need" to replace my siding?
Many homeowners do not do exterior maintenance on their home. It is not very exciting, it takes time, and it is not cheap! For instance, how many HGTV shows spend a bunch of time and money doing siding! NONE! So, it can become something ignored or a more accurate term "deferred", which is a kind way of saying you are ignoring something for one reason or another.
So, lets say you buckle down, and have the home completely redone with vinyl or any number of composite exterior products for $25,000-$40,000. That can certainly do the trick, however you cannot expect that investment is going to improve your market value by that same amount. Optimistically, a 50% ROI (Return On Investment) is the best you can most likely hope for. A viable, and more cost-effective approach is replacing damaged and rotting siding, properly prepping the exterior, and sealing it all with a fresh coat of paint. Your ROI on that sort of work can be as high as 300%!
If you are wondering what projects to NOT waste your time on to get a higher market value for your eventual sale, I do 20 minute "Cost Versus Benefit" analysis for homeowners at no charge or obligation to hire me to sell their home.
Stieg Strand, Broker/Realtor® at 612-490-2121