The latest Remodeling Cost vs. Value study, released in December, reveals that a fiber cement siding remodeling project returned nearly 5 percent more on a homeowner's investment (86.7%) than the second best-performing project, a wood deck addition (81.8% national average return).

On a regional basis, a fiber cement siding remodel ranked #1 for return on investment in 6 of the 9 geographical markets featured in the study. They are:

Mountain (89.2%)
West South Central (88.3%)
West North Central (79.9%)
East North Central (79.3%)
South Atlantic (91.0%)
New England (79.8%)

Fiber cement siding ranked second in the three remaining regions with similarly impressive returns: Pacific (96.2%), East South Central (90.2%) and Middle Atlantic (84%).

In addition to the nine regional reports, Remodeling's Cost. vs Value study analyzes the return on investment for projects in 80 U.S. cities. The findings can provide contractors with valuable empirical data to persuade consumers to get "off the fence" about remodeling in a choppy housing market. Homeowners can also make informed decisions about which projects (fiber cement siding, for example) make the best financial sense.

In compiling this year's report—which has been re-named "2008-2009" to emphasize that the results remain relevant until next Fall—researchers were expecting a significant drop in retained value of projects to coincide with the dramatic declines in home values. However, the team discovered that the rate of decline (just 3.86%) was much slower than the past two years. The evidence suggests that stabilization in the housing market may be around the corner—and that remodeling can actually help shore up a home's value.

This year's report also illustrates one very important trend: the top two projects relate to a home's exterior and curb appeal. So take a look outside, and make plans to install HardiePlank® in 2009—for many happy returns and a low maintenance future!

View the complete Cost vs. Value data at: www.costvsvalue.com

© 2008 Hanley Wood, LLC. Reproduced by permission. Complete regional and city data from the Remodeling 2008 Cost vs. Value Report can be downloaded for free at www.costvsvalue.com.

Streetscapes Online, Volume 32 <