Siding or Roof?

[Adam Meckler]

I have a duplex that needs both siding and a new roof. I have to refinance in November and can only afford to do one or the other. Which one is going to increase the value of the duplex more? Looking to pull case at refi. 

[Drew Sygit]

Quote from @Adam Meckler:

I have a duplex that needs both siding and a new roof. I have to refinance in November and can only afford to do one or the other. Which one is going to increase the value of the duplex more? Looking to pull case at refi. 

Where are the appraisers with their comments?

In our experience, an appraiser infrequently lowers appraised value due to a roof issue. If they suspect a problem, they usually will require a letter from a licensed contractor stating the condition of the roof and how long until it needs replacing.

So, the siding will usually have a bigger impact on value than a roof.

But, be careful!

Rarely do cosmetic improvements, like siding, increase the appraised value dollar-for-dollar. 

You may want to plan on only seeing 25-50% of the siding expense as an increase in the appraisal value.

Highly recommend you pull comps, or pay an agent $75-100, to try to figure our how much extra vlue the siding MAY add. 

NOTE: even the plumbing, toilets and electrical updates you've done won't really increase the appraised value much:(

New kitchens & baths, windows, flooring and mechanicals typically push the value higher, but you are still limited by the market.