Whether you’re planning to renovate your house 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 greatest ROI (return on investment) for your money. The aesthetic value of EIFS alone causes a home to stand out as a gem among it’s neighbors to create a lasting first impression. However, it doesn’t stop at first impressions, as a new siding on your house is ranked the top home renovation in terms of “Cost vs. Value”. If that wasn’t enough, any money not initially recovered via increased home valuation is made up by significant reductions in your heating and cooling bills, putting money back in your pocket for years to come.
The most obvious benefit of synthetic stucco is it’s beauty. No siding exists which can match it’s wide range of textures, colours and design options. From your charmingly basic EIFS with flat trim, right through to the dentil’d cornices, columns, pilasters, keystones, flowers and elaborate moldings of multi-million dollar homes clad in synthetic stucco. This “aesthetic value,” although difficult to translate into actual dollars, is invaluable in it’s ability to bolster that all-important “first impression” of your house and make it stand out to potential buyers. This curb appeal is not only for potential buyers however; home owners with recently finished EIFS happily recount (with a big smile) instances of hitherto unseen neighbors stopping by their house to pay them a compliment, express their envy and seek a referral.
From your charmingly basic EIFS with flat trim, right through to … multi-million dollar homes clad in synthetic stucco.
Many factors of EIFS (such as aesthetic value and being safe from mold) cannot be measured in dollar value, but there is a direct cost vs. value according to Remodeling Magazine’s 2007 “Cost vs. Value Report.” In this highly-regarded report detailing costs of various home remodeling projects and their return on investment at resale time, fiber-cement siding (like EIFS) come in at the (not surprising) number one position, with an astounding return of 88.1%. This means that on a $15,000.00 EIFS renovation, your home’s value increases immediately by $13,215.00 vs. $9,900.00 for a comparable $15,000.00 bathroom addition (66.0% cost recoup). In reality, a synthetic stucco renovation blows others out of the water in terms of value because…
This means that on a $15,000.00 EIFS renovation, your home’s value increases immediately 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. Home owners typically report a 25%-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 fold. Primarily, it’s insulation prevents heat penetration through walls, and secondarily, acts as an air barrier — preventing air flow and therefore heat transfer. This means that less heat is lost during the cold season, and less heat penetrates into your home during the warm season — a double benefit for those living in Canada and the upper states. Looking at a typical annual heating/cooling bill of around $2,500.00 and a minimum of 25% reduction, the average home owner can expect to get back $625.00 every year. Again looking at our $15,000.00 EIFS renovation 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 25% reduction, the average home owner can expect to get back $625.00 every year.
Whether planning to renovate with EIFS to attract home buyers or simply to intelligently invest in your greatest asset, you can rest assured you’re making the right choice. After having fully paid off your investment in 3 years, you’ll have an asset which generates approximate 4.2% ($625.00 / $15,000.00) ROI 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 increasingly becoming environmentally conscientious and will adore the freshly renovated exterior of your home.