News / Press Releases
January 16, 2009
Remodeling Magazine's '08-09 Cost vs. Value Report Bolsters Sales of James Hardie Siding Products in Today's Tough Resale Market
New Home Remodeling Report Finds that Fiber Cement Siding Delivers the Most Significant Return on Investment at Resale
MISSION VIEJO, Calif. (January 16, 2009) – In today’s challenging real estate market, James Hardie Building Products, Inc. (NYSE: JHX), the leading manufacturer of fiber cement building products, is pointing homeowners to a new study that ranks fiber cement siding as the number one home improvement project when it comes to delivering the highest return on investment at resale.
For the fourth year in a row, Remodeling Magazine’s 2008-2009 "Cost vs. Value" Report, which helps guide home improvement decisions by comparing construction costs for common remodeling projects with the value they add to a home at resale in the current real estate market, has ranked fiber cement siding in the top spot, above popular projects like kitchen and bath remodels. The current report, which has been published annually since 1988, says that residing with fiber cement gives a 31% better return than adding a bathroom and costs $61k less to complete.
"In today’s buyers’ market, sellers know they have to go the extra mile to attract buyers, but often times the improvements made don’t deliver a higher sale price and the money put into improvements is lost," said P.J. Rosch, Senior Product Manager for James Hardie Building Products. "Remodeling Magazine’s Cost vs. Value report is a valuable tool for sellers, as well as for real estate agents counseling sellers, when it comes to making home improvement decisions that will both attract buyers and protect the seller’s investment."
In other comparisons, the report showed that a minor kitchen remodel gives a 10% less return on investment than residing with fiber cement, while adding a second story addition nets a 23% lower return on investment than fiber cement residing.
Fiber cement products were first introduced in the U.S. by James Hardie Building Products in the early 1990s as a durable, low-maintenance alternative to wood and vinyl. In addition, fiber cement siding products such as HardiePlank and HardieTrim with ColorPlus Technology, and the new HardieWrap weather barrier system protect a home owner’s biggest investment. All James Hardie Siding products are also resistant to fire, wind, impact and flood.
In addition to Remodeling Magazine, James Hardie products have been recognized by multiple publications as a financially sound investment: Money Magazine called James Hardie "a smart investment that delivers on durability"; Smart Money magazine listed James Hardie in its "Smart Fiscal Sense" feature; and Builder magazine has cited James Hardie as the top quality exterior lap siding product for the past nine years.
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