Most of us have gotten used to quickly knowing exactly how much something costs. All you have to do is a quick Google search! The bad news is that not everything can be priced so easily.
Certain things like home improvements vary too greatly for anyone to put an exact cost on them without gathering some specific information.
However, even though it isn’t possible to put an exact number on the cost of home exterior remodeling projects, you can get a good ballpark figure using tools like Remodeling Magazine’s Cost vs Value report.
Estimating the Cost of Your New Siding
Each year, Remodeling Magazine publishes a report about the Cost vs. Value of various home remodeling projects. It’s a very useful tool because it shows you the cost of the project, plus it also gives you insight into how well your renovations will hold their value, or the return on investment (ROA).
This report doesn’t just focus on the country as a whole but analyzes more than 100 specific markets throughout the US, making it easy for you to accurately estimate the cost for your specific location.
According to Remodeling Magazine’s 2020 cost vs. value report:
- The national average cost to install new vinyl siding is $14,359. The average cost to install fiber-cement is $17,008.
- The average cost of vinyl siding in the Mid-Atlantic Region is $14,763 and adds an average of $11,249 to a home’s resale value. The average cost of fiber-cement in the Mid-Atlantic Region is $17,497 and adds an average of $14,966 to a home’s resale value.
Both sets of data came from siding projects involving a home of 1,250 square feet with existing siding. It includes the cost of factory trim at all openings and corners.
Check out more details of the Cost vs. Value report on Remodeling Magazine’s website.
Factors that Can Lower or Raise the Cost
- Varying labor costs due to different conditions existing at your home.
- Before giving an estimate, a good contractor will visit your home to get a feel for any conditions that could affect labor costs.
- Tastes differ from client to client. Depending on the particular siding and detailing you choose, that will affect the cost.
- If you have specific details in mind for how you want your siding project to turn out, make sure you let your contractor know early in the process.
- In a nutshell, the labor cost + the cost of the materials = the total cost of the project.
No matter what, it’s hard to put a price on having a dream home to enjoy time with family and friends!