There have been several studies and surveys about siding and resale value... return versus investment. Cement board has won that question over and over. I too live in the midwest and have a lake house. I will be replacing the siding this spring with cement board. It withstand wind, rain and hail like a champ and you can purchase it pre-colored or choose a paint color yourself. If you have some protected gable areas or an under porch area that is well protected, you can put cedar siding into the mix as well. Good luck.