Home Buying in 60089>Question Details

Jana M, Home Buyer in 60089

Does DryVit affect resale value?

Asked by Jana M, 60089 Tue Jul 10, 2012

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6
Andrew Malak,’s answer
Yes. it depends on the clocation of the property; what is the buyer looking for; and what would the buyers look for in that neighberhood.



Andrew

BuyInChicagoland.com
847-293-5424
0 votes Thank Flag Link Wed Jul 11, 2012
Sounds llike you've been having some problems with a dryvit home and your return of earnest money.
Sorry to hear that. I am familiar with BG. If you want I'd be happy to helpout with these issues and hopefully get you back on track.
Coleen
0 votes Thank Flag Link Tue Jul 10, 2012
Most certainly, as I've had buyers disqualify any home with that type of exterior. You might want to interview a couple of home inspectors on the subject.
0 votes Thank Flag Link Tue Jul 10, 2012
Many relocation companies will not allow their buyers to purchase EIFS (Exterior Insulation Finishing Systems) such as Dryvit, because of a myriad of problems that they'd experienced with them in the past.

Since that depletes some of your buyer pool, I would imagine that it could affect the value of your resale.

That's not to say that Dryvit and other EIFS products aren't good products... in fact they are more impermeable to water than traditional stucco. But if the EIFS isn't installed correctly, or maintained correctly, and water manages to get between the Dryvit and the house, the water has almost no way to get out, and can cause rot and mold and eventually structural damage.
0 votes Thank Flag Link Tue Jul 10, 2012
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
Dryvit can affect resale value. There are Dryvit homes were the material was properly installed and there are no problems with it. Some Dryvit that was not properly installed can have moisture problems, mold and wood structure decay. A Dryvit inspection can tell you if there are any problems but some buyers will not consider a home with Dryvit because they have heard that there have been lawsuits and problems. Anytime you lose a portion of your potential buyers, irrational fears or not, you can impact selling time & price.
0 votes Thank Flag Link Tue Jul 10, 2012
It really depends on the area you are in and the homes in your area which are comparable. Dryvit had a very large class action lawsuit a few years ago that provided for many people to get a settlement to correct the problem and get a clean bill of health. If you did that or could have it inspected and get something like that, the difference between Dryvit or stucco will not be an issue. Also, many people can not tell the difference between stucco and the Dryvit product.

However, if you are in an area that has more brick than not on homes, anything other than brick can be an issue.
0 votes Thank Flag Link Tue Jul 10, 2012
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