Why Painting the exterior of your home is a waste of Money
People in Toronto are always comparing their homes to the Jones, looking to make their house the best looking on their block. So, the first thing they do is work on the landscaping which is a great way to increase the equity of the property plus, it does make the house look great but, one mistake that is noticed is most of the budget is spent on landscape instead of the exterior of the building, where the money should be spent saving you money in the long run, especially during the winter months. Now, faced with a smaller budget, one either has to resort to siding (which is only decorative, if you like that look) or even worse, they paint it.
Most will opt for paint or siding due to the low price points and to try to stay within their budget. Applying paint or siding can run about $3 - $5 per/sf (for good contractors). Paint doesn't give your property any value other than design. Exterior Painting DOES NOT give you any insulating value, whatsoever, and it has a fade rate of approximately 8% - 10% per year. Meaning, in a couple of years you may need to repaint the exterior of your house. Paint also doesn't protect the subsurface from allowing moisture to penetrate through it. We all know water can be the number 1 killer of all building materials, even concrete. Protecting the building should be important to a homeowner as it will save them money down the road and painting the exterior will not do that.
The cost to apply stucco is in the range of $8 - $12 per/sf. If you get it for cheaper than you should be concerned about other factors. For example: are they properly insured, do they have WSIB coverage, where are they getting their materials and last but, not least, do they do good work. Stucco will crack, peel and/or fade and other than the foam has no thermal value. It is concrete.
There are new materials being brought into Canada. These products are of great value and will increase the value of your home and save you on utility bills by upgrading the exterior alone! CORK! Yes, CORK! It is an impressive cork spray which looks like stucco but, unlike stucco it does not crack or peel. It fades 1%per year; it is flexible, and much more. Most importantly it is LEED certified. (Eco-friendly) It looks like traditional stucco. . It has a thermal barrier comparable to wool; it's like wrapping your house in a wool blanket. The cork spray is water resistant and mold proof and the cork spray can be applied to any surface, even over that ugly siding that you’re thinking of painting over to give it an upgraded look.
The best thing about this cork spray is, it ranges from $3 - $5 per/sf installed.
So before you make the decision on painting your house, get an estimate from a contractor to install this cork spray. You won't regret it.