Is investing in vinyl siding worth it?

Is investing in vinyl siding worth it?

Real Estate Investor · Boulder, CO · Member since 2014 · 49 posts · 6 votes

Hello Bigger Pockets community!

im not sure if this question fits in this topic, but i wasnt sure where else to put it (sorry im a noob!)

I own a 2 family home in Buffalo NY (Black Rock neighborhood, to anyone thats familiar) The home was purchased at 50k in 2010. The front and the back of the house are vinyl, and both sides are wood. The wood is in bad need of a paint job. I was considering investing in vinyl (most of the homes getting rehabbed in Buffalo have vinyl unless they are in historical neighborhoods). I was quoted by one of my tenants who is a roofer that the cost would be about $6400 to do the two sides which would include facia, soffits and framing all the windows of which there are 13. He said it would be "double 4 inch siding, about 10 squares".

Now this is a lot of money for me. I wanted to know if a) is this a reasonable price b) is this a good investment? will i recoup this when i sell the home possibly in 5-10 years? and c) is this generally much more than painting?

thanks in advance!

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Real Estate Investor · Myrtle Beach, SC · Member since 2012 · 299 posts · 104 votes
12y

Diana, 

I use to be from Upstate NY did a lot of investing and rehabbing there. 

The cost sounds high to me. 

I would recommend two things for you. 

1) Defiantly do the siding, Don't worry about fire that's silly. The siding will make the house look much better and be easier for you to sell when your ready and no more painting. 

2) Get three professionals to come in who have insurance and have them quote it for you. This then will leave no doubt in you mind of of your cost.

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  • Investor · Hopewell Junction, NY · Member since 2013 · 153 posts · 58 votes
    12y

    Get someone with insurance!!

    All the dude has to do is fall off the ladder and you will be supporting him and his family for the rest of his life.   I've seen than happen and it scares the crap out of me.

  • J ScottPro Member
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    Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
    12y

    $640/square is way too much for vinyl siding.  I'd expect to pay under $400/square, and that would be for the insulated vinyl and the trim work.  That would also be insured contractors.

  • Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
    12y
    Originally posted by @Dirk Richmond:

    ..... if someone gets hurt, they're likely going to look to you. If you didn't have your workplace up to OSHA standards, and even if you did, they may try to sue you. There are a lot of hungry lawyers out there.

    & in New York we have the dreaded Scaffold Law that has ruined many businesses & home owners.....take adequate precautions.

    The Scaffold Law, enacted in 1885 as Labor Law 240, places almost absolute liability on contractors and property owners for gravity-related accidents at construction sites, even when the workers are at fault in part or whole.

  • Real Estate Investor · Boulder, CO · Member since 2014 · 49 posts · 6 votes
    12y

    I got two quotes from different companies for the siding. It's going to be minimum 11,000 dollars so I am definitely not doing it. Will start looking into painting instead.and yes I will be going with a professional company.

  • Real Estate Investor · Boulder, CO · Member since 2014 · 49 posts · 6 votes
    12y

    thank you for all the valuable advice everyone probably successfully steered me away from a bad decision!

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