Whether you’re planning to renovate your home to increase curb appeal for potential buyers or live in your home for the rest of your life, renovating with synthetic stucco will give you the highest ROI (return on investment) for your money. The aesthetic value of EIFS alone makes a home stand out like a jewel among its neighbors to create a lasting first impression. However, it doesn’t stop at first impressions, as a new home siding ranks as the best home renovation in terms of “Cost vs. Value.” If that weren’t enough, any money not initially recovered through a higher home valuation is offset by significant reductions in your heating and cooling bills, putting the money back in your pocket for years to come.
The most obvious benefit of synthetic stucco is its beauty. There is no coating that can match its wide range of textures, colors, and design options. From its charming basic EIFS with flat moldings, to the serrated cornices, columns, pilasters, cornerstones, flowers, and elaborate moldings of multi-million dollar houses lined with synthetic stucco. This “aesthetic value,” while difficult to translate into actual dollars, is invaluable in its ability to reinforce that all-important “first impression” of your home and make it stand out to potential buyers. However, this curb appeal isn’t just for potential buyers; Homeowners with newly completed EIFS rejoice (with a big smile) of hitherto invisible neighbors who stopped by to pay them a compliment, express their envy, and seek a referral.
From your lovely basic EIFS with flat moldings, to … multi-million dollar houses lined with synthetic stucco.
Many EIFS factors (such as cosmetic value and being safe from mold) cannot be measured in dollars, but there is a direct cost vs. value according to Remodeling Magazine’s 2007 “Cost vs. Value Report.” In this highly regarded report detailing the costs of various home remodeling projects and their return on investment at the time of resale, fiber cement siding (like EIFS) is ranked (not surprisingly) number one, with a astonishing 88.1% return. This means that on a $ 15,000.00 EIFS renewal, your home’s value immediately increases by $ 13,215.00 vs. $ 9,900.00 for a comparable bathroom addition of $ 15,000.00 (66.0% cost recovery). Actually, a synthetic stucco renovation takes others out of the water in terms of value because …
This means that on a $ 15,000.00 EIFS renewal, your home’s value immediately increases by $ 13,215.00 vs. $ 9,900.00 for a comparable $ 15,000.00 bathroom addition
Adding EIFS to your home results in significant energy savings. Homeowners generally report a 25% to 40% reduction in their energy bills due to the higher insulation value of their walls. The method by which synthetic stucco reduces heat loss / gain is 2 times. Mainly, its insulation prevents the penetration of heat through the walls and, secondly, it acts as an air barrier, preventing the flow of air and therefore the transfer of heat. This means that less heat is lost during the cold season and less heat enters your home during the hot season – a double benefit for those living in Canada and the higher states. Looking at a typical annual heating / cooling bill of around $ 2,500.00 and a minimum reduction of 25%, the average homeowner can expect to recover $ 625.00 every year. Again, looking at our $ 15,000.00 EIFS renewal and subtracting the increase in home valuation ($ 13,215.00), it has only cost $ 1,785.00. At a rate of $ 625.00 per year in energy savings, you are “out of the red” in only 3 years ([3 * $625.00 = $1,875.00] – $ 1,785.00 = $ 90.00.)
Looking at a typical annual heating / cooling bill of around $ 2,500.00 and a minimum reduction of 25%, the average homeowner can expect to recover $ 625.00 each year.
Whether you are planning to renew with EIFS to attract home buyers or simply to invest wisely in your greatest asset, you can be sure that you are making the right decision. After you have fully paid off your investment in 3 years, you will have an asset that generates an ROI of approximately 4.2% ($ 625.00 / $ 15,000.00) for a 25% reduction in heating / cooling costs, and 6.7% ($ 1,000.00 / $ 15,000.00) for a 40% reduction (after 2 years). This energy saving is a huge plus for home buyers, who are also becoming more and more environmentally conscious and will love their home’s newly renovated exterior.