Siding project expenses can vary depending on what kind of siding is used, how much space you will need for accurate coverage, and the amount of time you have to complete your remodel. Keeping your exterior siding project on schedule plays an important role in the success of the overall renovation of your home. The exterior siding of your home creates curb appeal, as well as structural support. The location of your home and the complexity of your siding project can determine cost drivers that may come up during construction. A cost driver is any number of factors which causes the cost of a project, job, or activity to raise or lower.
The following five factors are cost drivers in a siding project:
1. Real estate value
Your siding project can increase the overall value of your home. According to Remodeling Magazine, vinyl siding replacement for a midrange project can result in a 78.2% resale value. If you’re looking to sell your home, the exterior gives a buyer the first impression. Having updated siding shows you take the time and effort to care for your home and that you pay attention to detail as a homeowner. As a result of adding new siding to your home, the residing job could end up paying for itself in a higher market price for your property.
2. Energy efficiency
When updating the siding of your home, heating and cooling efficiency will be improved. Cutting down and saving on energy costs will depend on the type of siding you choose and also whether insulation is added. Siding is meant to protect your home, but it can also help minimize maintenance and utility costs. Using insulated aluminum vinyl or steel siding are ways to increase energy efficiency for your home.
3. DIY vs. hiring a professional
A siding project can be done by the DIY method, but the level of difficulty increases with additional complicated aspects like corners, eaves, soffits and fascia, as well as windows and doors. Unless you have experience working with siding, hire a qualified siding professional for this project. A siding contractor will make sure the design and remodel is high-quality and satisfactory.
4. Siding Material
Types of siding vary in cost depending on quality and material. When deciding what type of siding you want for your home, consider the amount per square foot you will need to complete the remodel. Most siding is sold by square foot, so choosing a type that will remain within your budget can help the overall project cost to not exceed what you expected. Certain siding may also take longer to install so make sure the type you choose fits into your schedule. The following are a few standard types of siding material:
- Shingles – More expensive and decorative look, shingles come in various types such as cedar and cement.
- Wood – Simple installation, versatile style, and can be painted or stained, but also requires more maintenance every few years.
- Fiber cement – Resilient, inexpensive, and minimal upkeep, with a style similar to wood.
- Vinyl – Made from aluminum, plastic, or fiber cement, it is weatherproof and inexpensive.
- Stucco – Durable and low maintenance, generally used for Spanish-style homes.
- Stone – Low maintenance and strong with a large amount of versatility in texture and style.
- Metal – For a more modern look, metal siding comes in a variety of colors, sizes and shapes.
- Brick – Requires almost no maintenance with a strong and durable style, but more expensive.
The cost of your siding project will be driven by additional components such as labor. Labor can heavily increase the cost of your siding by having to pay extra work fees by the hour during installment. The size of your house, your siding contractor, and the amount of preparation work that needs to be done prior to applying the siding will contribute to labor costs. You can save time and costs on your siding project if you remove the old siding yourself. But siding contractors usually insist on removing old siding prior to placing the new siding. Disposal costs can include hiring a dumpster, hauling old siding away, and disposal of materials.
When old siding is removed there may be structure repairs as a result of mold or leakage. In this case, insulation might also need to be added, upgraded, or replaced. Any labor that occurs during the process of your siding project can ramp up the overall cost. Make sure you have these labor factors included in your siding contract so certain costs or price raises don’t catch you off guard and you can stay on budget.
Be wary of cost drivers that will either increase your siding project above your limit or that can help you cut down on certain costs. Look at typical costs in your area for similar houses to your size and style, so you know what to expect when planning your remodel. Start scrapbooking your siding project and look for a siding professional on Porch.