Will Vinyl Siding Increase Or Decrease the Value of Your Home?

Vinyl siding has created quite a tempest in the world of construction. While some in the building trades hail this type of siding as the best invention since the wheel and point out it's many advantages such as low cost, low maintenance and durability. Others in the industry claim vinyl siding cheapens the look of your home and lowers it's value. So who is right? Does vinyl siding add to the curb appeal of your home and thus raise your homes value or does it cheapen your home and make it worth less?

The answer is that everyone is right. In certain circumstances this type of siding can improve the look of your home and increase it's value. In other circumstances the use of this siding may not only lower the value of your home but also the other homes in the neighborhood. That being the case there are some things you need to consider before deciding for or against this durable siding.

AUGUSTA

The Age of Your Home
If you have an elegant home from a bygone era then let's face it using vinyl siding will definitely make your home look cheaper and will decrease the value of your home. An old Victorian mansion simply isn't going to look right unless it is sided in the same type of material that it had originally. Any newer type of siding be it vinyl or aluminum or something else will detract from the homes originality and style. So, keep in mind the age of your home before re siding it.

The Look Of The Other Homes In The Neighborhood
You should also take into consideration the look of the other homes in the neighborhood. If all the homes are sided with wood siding, brick or stucco and yours is sided with vinyl then it is bound to look out of place. However, if all the homes are sided with aluminum siding or vinyl then a vinyl sided home will look great and blend in with the neighborhood thereby increasing it's value if the siding is new and looks great.

If your home isn't that old and the siding is old and worn looking then vinyl siding can certainly increase the value of your home especially if you choose an insulated vinyl that will also help lower the utility costs. By making sure that you choose a high quality siding, you can make sure that your home looks good both from the road and up close and personal.

The simple truth is that in most cases vinyl siding will increase the value of your home. However, there are exceptions to everything and in the case of siding you are going to want to take into consideration the age of the home and the look of the entire neighborhood before deciding if this type of siding is right for you and will add to the value of your home.

Will Vinyl Siding Increase Or Decrease the Value of Your Home?

AUGUSTA

House Approves Increase in FHA Limits

The House of Representatives approved a bill to increase the FHA's lending limits and reduce payment restrictions. The bill, which will help low-income and first-time home buyers, was sponsored by Ohio Representative Bob Ney. It received almost unanimous support by the house with a 415-7 vote.

The factors in determining the maximum amount insurable by the FHA for single-family homes will be changed as an amendment to the National Housing Act, according to the new law. The bill allows the FHA flexibility in insuring mortgages up to the median home price in areas where home prices are extremely high. It will also provide for a maximum of 40-year mortgage terms.

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The bill will eliminate all flat mortgage insurance premiums, instead instating a tiered premium system according to the property's loan-to-value ration, the borrower's credit history and debt-to-income ration and the FHA's experience with comparable borrowers. The current minimum down payment of 3% will be discarded. The limit on federally insured reverse mortgages will also be eliminated

The law will allow loans to be more easily made in high-cost areas. For years, low-income buyers have been pressured to take out high-cost private mortgages due to the substantial increases in house prices in metro areas. The FHA hopes that the new law will change this trend.

"Modernizing FHA will improve competition in the prime home loan mortgage industry and effectively assist the industry in combating abusive and discriminatory lending practices," said Ney.

"This bill helps further increase the country's home ownership rate, especially among low and moderate-income and minority families."

House Approves Increase in FHA Limits

AUGUSTA GA