Does fixing up the exterior of the house increase value?

[Mitchell Litam]

This might be a dumb question.

I have an old house with wood siding. The paint is starting to chip and one piece actually fell off from being rotten. I dont have problems with drafts in the house or have any inefficient heating or cooling bills.

I got a quote to repair all the siding and repaint everything for $7500.

Does this increase the value of my house when I go to sell it?

[Sean Blomquist]

It doesn't "add" value to your house, but if you didn't have it done and tried to sell, you would most likely lose value since it is something that needs to be repaired.  Putting maintenance free siding on the home may add some value, but it won't add enough to cover the cost of doing it.