First things first: If you replace the vinyl siding on your investment property, the national average of return on investment is about 80 percent (give or take a few points).
However, that investment may be a good one—especially if you consider the boost in curb appeal.
Should You Replace Vinyl Siding on an Investment Property?
The job averages less than $11,000 across the nation, which means it’s relatively cost-effective (but that’s also a pretty large chunk of change). New vinyl siding will make the house look brand-new on the outside, but if you’re not making significant improvements to the inside (or if the inside doesn’t already look next-to-new), that may be a wasted effort.
The Deal With Vinyl Siding
Vinyl siding typically lasts about 25 years. Contrast that with house paint; houses need their exteriors repainted every five to seven years, which means buyers are more likely to want a house with low-maintenance vinyl siding.
Long-lasting, low-maintenance convenience is what new buyers want, so new siding may be a worthwhile investment for you to make.
Do You Need a Hard Money Loan to Buy an Investment Property in Atlanta?
If you’re looking for a hard money loan in Atlanta, we may be able to help you.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.
Read our frequently asked questions and take a few minutes to learn about the hard money loan process.