How Much Does New Siding Cost?
If you’re preparing to sell your house, don’t forget to check “update the exterior siding” off your home improvement to-do list. Although replacing your home’s siding can be an expensive project, it’s considered one of the best ways to boost your home’s curb appeal and draw in potential buyers.
Before you wring your hands over the siding replacement cost, let’s take a look at how the final price tag varies based on the size and location of your home, type of siding and labor costs.
What’s The Average Home Siding Cost?
Although the cost of installing home siding depends on a number of variable factors, it’s important to understand the “ballpark” average for this home improvement project.
According to HomeAdvisor, new exterior siding typically costs between $5,000 and $14,050. This figure includes the cost of materials, installation and site cleanup. As we’ll explore later in this article, there are several options available for financing this project to improve your home’s value.
What Factors Affect The Cost Of Installing Siding?
If you’ve made the decision to install new siding on your home, your next step is to calculate the cost of the job. The main factors that affect the total installation charge are home size, quality of siding materials, local labor rates and whether the old siding needs to be removed.
Let’s break down how each of these elements impacts the bottom line of your project.
Home Size And Design
It’s simple: A larger house requires more siding, which increases the overall price of the project. Plus, a bigger house will most likely require a longer installation process. It’s helpful to reference your home’s square footage and measurements when calculating how much siding you’ll need, as well as how much it will cost.
The standard estimation for siding pricing purposes is to multiply the wall lengths by the height of the house. Let’s use a two-story house that is 35 feet by 55 feet, with an exterior of 3,000 square feet, as an example. First, total the wall lengths (35+55+35+55) – that gives you 180. Then, multiply that figure by the house’s height of 30 feet. 180 feet multiplied by 30 feet equals 5,400 square feet of siding materials needed. So, if you were planning to use vinyl siding at $3 per square foot, you can expect to pay $16,200 in vinyl siding cost.
Quality Of Siding Materials
Since you’ll be purchasing thousands of feet of this siding material, it’s important to carefully consider all of your options. There are tons of siding options, all varying in price, reliability, environmental impact and required maintenance.
Of course, price will most likely be the dealbreaker when choosing a siding material. Check out the estimated cost per square foot of some of the most popular types, according to HomeAdvisor.
If you’re considering installing new siding in 2021, prepare for potential price fluctuation and long delivery times for materials. Due to the increased demand for home-building materials, it’s recommended that homeowners order siding as early as possible and budget for possible price increases.
Local Labor Rates
Since adding or replacing siding is a big undertaking, it’s recommended that you hire a professional siding contractor. While this is a necessary step to ensure that your home improvement project is completed correctly and safely, it does tack extra charges onto your final bill.
If you hire a siding contractor and their team to install your home’s siding, you can expect to pay between $1 – 3 per square foot on labor, according to HomeAdvisor. This estimate can vary based on the size and accessibility of the home, as well as the cost of living of your area.
Cost To Replace Siding
One of the first things that a professional siding contractor will evaluate is whether they can install new siding on top of the existing pieces, or if they’ll have to remove and replace all of it. If the current siding and the cladding underneath it is in good condition, contractors may recommend installing new siding on top of it.
However, it’s more common that you’ll be required to remove the old siding, which can cost between $1,000 – $3,000, depending on the square footage. This estimate includes the labor and dumping costs. So, on top of calculating the cost of new siding, it’s important to include the price of siding removal into your overall project budget.
Can I DIY The Installation To Save On Siding Costs?
When taking on an expensive project like replacing the siding of your house, it’s normal to consider different ways to save a few bucks here and there. However, unless you are a licensed professional, it’s not recommended that you attempt to remove or install siding on your own.
For one thing, this process requires a lot of heavy lifting, leveling and cutting of materials that most homeowners have little to no experience handling. It’s not only dangerous for non-professionals to undergo this process, but it increases the likelihood of making a costly mistake. While there are plenty of DIY home improvement projects that homeowners can tackle themselves, it’s better to leave this one to the paid professionals.
Is New Home Siding Worth The Investment?
At the end of the day, everyone wants to ensure that they’re investing their money into a project that will benefit their home and financial goals for years to come. Luckily, replacing your home’s siding has a high return-on-investment rate, averaging at about 80%.
New home siding can also boost your home’s curb appeal, which is especially helpful if you’re selling during a buyer’s market. Even if you’re not planning on moving anytime soon, upgrading your home’s siding is still considered a worthwhile investment. Most new sidings improve the energy efficiency of your home, plus the installation usually comes with a lifetime warranty to guarantee its performance through the life of the home.
Since siding replacement can come with a hefty price tag, it’s relevant to consider a variety of payment options to find the best fit for your budget. Depending on your financial situation and the siding estimate, you may want to consider a personal loan for this home improvement project.
Final Thoughts: Estimate Your Siding Cost With Professional Help
Whether you’re preparing your home for sale or just making regular upgrades to your house, installing new siding is a surefire way to improve the value of your home. Once you’ve picked out the siding material of your choice, consult a local siding professional to get an official estimate for the job. Don’t forget to plan ahead to ensure that the team receives the materials on time.
To help finance the installation of your new siding, check out the personal and home improvement loan options from Rocket Loans®.
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