I have LP siding on my house. I have had a siding specialist out and they say that the siding is fine. It is in “good” condition and say that there is no point in replacing it. However, I want to sell my house and my Realtor says LP siding is bad. Do I need to replace it before I put my home on the market?
LP siding has caused all sorts of problems over the years. In fact Charles and I had to replace the LP siding on one of our houses in 2000. With new siding costing over $10,000, we felt lucky that we got $3000 from LP. The days of LP paying out are long over but the LP siding does still exist in our market place.
That said, the siding does not always need to be replaced prior to listing your home. However, you have to account for the siding in your pricing and marketing. You may choose to offer a “siding credit” up front or perhaps you just want to wait and see what the buyer asks for.
You should definitely make the siding report, as long as it is from a licensed and bonded siding contractor, part of your seller’s property disclosure.Then the opinion that it is in good condition is not a seller representation, but that of a professional.You need to know that just because you have the report, doesn’t mean that a buyer will pay market price for a house with LP as it requires a lot of upkeep, caulking and painting to keep it waterproof.A new buyer may not want to take on the additional risk of future failure or maintenance.
If the siding is over 10 years old, it will be even harder to encourage a buyer to accept.I would suggest that the siding disclosure is provided up front to any prospective buyers and their inspectors. Home inspectors do not like LP siding and a favorite saying is “It’s not a matter ofif it’s failing,it is when it will fail”