Hardipanel Over Foam

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I have read past posts about wavy edges from nailing when 4x8 panels are installed over foam. Some say it is a no-no while others say problem can be solved by putting batten boards (furring strips) the same thickness as the foam at the panel nailing points but that requires alot of foam cutting.

I want a stucco look on a remodel and want to add insulation. I have read many problems concerning stucco directly over foam. I plan to use Handi, tape the edges and my suggested solution for the "wavy" problem is to put OSB over the foam rather than try the solution with batten boards the same thickness as the foam. I think OSB is a cheaper and easier solution.

I'll put a vapor wrap over the OSB and to keep cost down I will use 1/4 inch Hardibacker in 4x8 sheets over the OSB & Wrap. Hardibacker is slightly thinner and thus lighter than Hardipanel. It is less expensive than Hardipanels by about $22 a sheet. With the firm OSB backing, Hardi thickness shouldn't be an issue and with a skim coat of stucco followed by paint I should get a good result with minimum waviness. I plan to attach the OSB with screws to control foam compression better than with nails.

Any thoughts?
 
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