With all home improvement projects, you generally have four choices for financing: Save up and pay with cash, or get a home equity loan, a personal home improvement loan, or a home improvement credit card.
Financing with a loan isn't the only option for homeowners without the cash available to pay for the project outright. Another option is to use credit cards to pay for your new siding. Depending on your credit card company and the percentage rate on the card this could be a better option than the loans available.
Getting siding replaced by insurance
Your homeowners insurance policy may cover incidents connected to extreme weather or storm damage if they're covered perils on your policy. Your policy may also cover damaged siding resulting from perils that aren't weather-related, like: Vandalism and malicious mischief.
The cheapest stuff you'll find at Lowes or Home Depot is LP board - it's a plywood style siding that's super inexpensive and easy to install. Hardiplank also has a similar version that's a few dollars more expensive but within same price range.
The price of a successful project can always be negotiated with your contractor before you sign a contract. Talk to your siding contractor about your budget. Make sure you have a written agreement for any unexpected project expenses.
Affordable: Vinyl siding is one of the most budget-friendly options on the market, making it a great choice for homeowners looking to maximize value. Low Maintenance: Unlike wood, vinyl doesn't require regular scraping or repainting. The color runs through the entire material, so it won't chip, peel, or fade easily.
Siding has a significant impact on the curb appeal of your home. On average, your home's siding can last 20-30 years if properly maintained. If your vinyl siding is damaged or showing serious signs of wear, it may be time to replace it.
Your insurer won't pay for new siding on your home if yours becomes worn out, faded, or rotted as a result of gradual and expected wearing over time. Insurance also won't cover your siding damage if they believe it's a result of policyholder negligence.
1. The total cost of siding materials. You can determine this by multiplying the material's cost per square foot by the home's total square footage. So, if the project requires vinyl siding at around $3 per square foot for a 1,000-square-foot home, you can charge the homeowner $3,000 for material costs alone.
On average, the siding installation cost for 2000 sq ft is around $17,000 or more. This price is on a sliding scale, depending on several factors, such as the siding type, installation complexity, and more, which we will discuss later.
Vinyl Siding
Vinyl siding is a popular and affordable choice for homeowners. It is available in various colors and styles, allowing homeowners to customize their homes to fit their specific needs. Vinyl siding is also a low-maintenance option, requiring only occasional cleaning with a mild solution and water.
High-quality siding will improve your home's value. Besides increasing the resale value of your home, real estate agents say that new siding will improve a home's curb appeal – with little maintenance required. Insulated vinyl siding will lower utility bills.
The material of the siding itself is also among the most critical factors. The average cost of siding is about $12 per square foot, but the cost of wood siding replacement can be as little as $2, and stone siding can reach $50 per square foot. There's quite a variation.
Homeowners with a 1,000-square-foot home can expect to pay between $2,500 and $10,750 for vinyl siding while homeowners of a 4,000-square-foot home can expect a bill ranging from $10,000 to $43,000.
Yes, homeowner's insurance policies do cover siding damage, but reading the fine print, most of them only cover the siding that suffered the damage, and so homeowners could wind up with mismatched siding.
Choose Siding Replacement Over Frequent Repairs
Aging siding that requires frequent repairs may make a replacement more cost-effective in the long run. While the upfront cost is higher, new siding materials can offer durability and lower maintenance costs over time.
Siding repairs for multi-family homes require an inspection when solid blocking and the water-resistant barrier are in place, but prior to installation of the pieces of new siding.
Vinyl Siding: Best installed in moderate temperatures (spring or fall) to prevent expansion and contraction issues. LP SmartSide: This engineered wood siding can be installed year-round but performs best when not exposed to extreme temperatures during installation.
What type of siding lasts the longest? Brick, stone, and fiber cement sidings are known for their longevity, often lasting the lifetime of the house with proper maintenance.
To Check for Wood Rot
The biggest reason for removing old siding is to find out what's going on or lurking underneath. Wood rot, mold, and moisture damage aren't uncommon, especially if the siding is old or wasn't correctly installed in the first place.
Vinyl siding is almost always the least expensive way to side your home. You can even find vinyl siding for as cheap as $2 per square foot. Of course, you're going to be looking at your home's siding for many years to come, so it's important to balance the cost with what material you like looking at.