Value Of Replacing Stucco

[Mr Rex]

Bad stucco and window repairs deduct $40k for repairs. After repairs replace serviceable stucco and windows with new and spend $120k. What was your question again?

 

[Doug in NC]

I did an appraisal of a cluster home that had EIFS (synthetic stucco) within the past year. Lender wouldn't even do a loan on the property when they learned it had synthetic stucco. To answer the question, I seriously doubt the market is going to pay anything close to the cost in return of complete stucco removal and replacement.

 

[techbiker]

I did an appraisal of a cluster home that had EIFS (synthetic stucco) within the past year. Lender wouldn't even do a loan on the property when they learned it had synthetic stucco. To answer the question, I seriously doubt the market is going to pay anything close to the cost in return of complete stucco removal and replacement.

I would pay an extra $15k maybe if the new stucco came with a warranty. How would I as a potential buyer know the new stucco was installed any better than the original? When installed properly, stucco should last for decades.

 

[Don Clark]

Is the stucco synthetic stucco (EIFS) or hard coat? If it's synthetic, did your local market have issues with it in recent years? In some areas there is still a major stigma attached to this material.

Excellent question Mr. Bucks.

EIFS has a whole bunch of different concerns than stucco has. Stucco is water based. EIFS is rosin based. EIFS walls cannot "breathe" so therefore retain water inside the walls. I suggest you hire someone to look at what you have, someone who knows the difference between stucco and EIFS. Replacing stucco is not nearly as expensive as replacing EIFS.

 

[Tim The Enchanter]

Stucco, at least like they use here is akin to cement you would get from a mixer truck.

 

[Mr Rex]

EIFS is installed on thousands of commercial properties with very few issues. Almost 100% of EIFS problems in residential properties can be traced to improper installation procedures.

 

[Don Clark]

EIFS is installed on thousands of commercial properties with very few issues. Almost 100% of EIFS problems in residential properties can be traced to improper installation procedures.

Correct. True stucco is water based and it "breathes" naturally. EIFS does not. When it was installed on residential properties the installers forgot to leave "weep holes" so the moisture could escape. i appraised a condo in a complex of 200 units. Each unit had a $12,000 special assessment to replace the EIFS with vinyl.

 

[Tim The Enchanter]

Correct. True stucco is water based and it "breathes" naturally. EIFS does not. When it was installed on residential properties the installers forgot to leave "weep holes" so the moisture could escape. i appraised a condo in a complex of 200 units. Each unit had a $12,000 special assessment to replace the EIFS with vinyl.

I'm sure all those folks were just super happy.

 

[Salty]

I have seen this many times in western Delaware County & Chester County. Entire Toll Bros developments with bad stucco. Its incredible. You drive through the 10-year-old development and most houses are surrounded by scaffold. Just when you thought all the homes have been repaired, there is a new crop that seem to spring up. Friends of mine are dealing with this as we speak. They switched to siding instead of new stucco. When I have appraised these things, I have received estimated from agents dealing with comps with the same stucco issue and made dollar-for-dollar adjustments for 100's of thousands in some cases. In all cases in these developments I call for a stucco inspection. I am not sure there will be any increase in value to make the home whole and in-line with what a buyer expects when making a purchase in the area. I am not sure the typical buyer would be willing to pay a premium for new stucco as opposed to a home with older stucco that has been inspected and deemed proper. I always tell buyers to proceed with extreme caution with stucco homes. I'm not sure I would buy one.

Another note, let's say there was an increase in value due to newer stucco. Unless the home is being sold very soon, my thought is that after a certain period of time the newer stucco would lose it's impact on overall value anyway. This is assuming we are dealing with a home that is less than 15-years old. My entire post assumes the property is less than 15-years old.

 

[residentialguy]

I have seen this many times in western Delaware County & Chester County. Entire Toll Bros developments with bad stucco. Its incredible. You drive through the 10-year-old development and most houses are surrounded by scaffold. Just when you thought all the homes have been repaired, there is a new crop that seem to spring up. Friends of mine are dealing with this as we speak. They switched to siding instead of new stucco. When I have appraised these things, I have received estimated from agents dealing with comps with the same stucco issue and made dollar-for-dollar adjustments for 100's of thousands in some cases. In all cases in these developments I call for a stucco inspection. I am not sure there will be any increase in value to make the home whole and in-line with what a buyer expects when making a purchase in the area. I am not sure the typical buyer would be willing to pay a premium for new stucco as opposed to a home with older stucco that has been inspected and deemed proper. I always tell buyers to proceed with extreme caution with stucco homes. I'm not sure I would buy one.

Another note, let's say there was an increase in value due to newer stucco. Unless the home is being sold very soon, my thought is that after a certain period of time the newer stucco would lose it's impact on overall value anyway. This is assuming we are dealing with a home that is less than 15-years old. My entire post assumes the property is less than 15-years old.

Take this poster's advice with a grain of salt