How Much Does It Cost to Replace the Siding?

Replacing siding can be a major financial challenge, but not replacing it can be even more expensive due to rising heating costs and constant repairs. Since you’ll find a lot of articles on the Internet dealing with the topic of siding replacement cost, the content of which is not entirely accurate, we decided to ask industry experts how much it really costs to replace siding and what factors affect the final amount spent.

Factors Influencing Siding Replacement Costs

Several elements affect the total cost of replacing siding, including choice of material, standard of labor, size of your home and additional features. Usually, homeowners in the United States spend between $10,000 and $25,000 on siding replacement, while an average price for 2,500 sqft home siding replacement is roughly $15,000. However, costs can vary widely based on specific circumstances.

Choice of materials and pricing

The choice of siding material is potentially the most important factor affecting the overall cost. Below you will find a list of the most popular materials with their prices, but keep in mind that the situation in the place where you live may shape quite differently.

Vinyl Siding: Ranging from $2 to $7 per square foot, vinyl is a popular and cost-effective option. It’s low-maintenance and comes in various colors and styles.
Fiber Cement Siding: Priced between $5 to $10 per square foot, fiber cement offers durability and a wood-like appearance without the high maintenance.
Wood Siding: Costing around $6 to $12 per square foot, wood provides a classic look but requires regular upkeep to prevent rot and insect damage.
Engineered Wood Siding: This option ranges from $3 to $8 per square foot and offers the aesthetics of wood with enhanced durability.
Aluminum Siding: With costs between $3 to $6 per square foot, aluminum is lightweight and resistant to pests but may dent easily.
Stucco Siding: Priced at $7 to $12 per square foot, stucco provides excellent insulation but can be more expensive due to labor-intensive installation.

Considering these prices, the material you select can significantly impact your budget. For a 2,000-square-foot home, material costs alone could range from $4,000 to $24,000.

Labor Costs and Installation Complexity

Labor accounts for a substantial portion of siding replacement expenses, sometimes it costs even more than material itself!. On average, labor costs in the vast majority of states range from $1 to $5 per square foot. The complexity of your home’s architecture, such as multiple stories, irregular shapes, or hard-to-reach areas, can increase labor fees. Additionally, removing old siding may incur extra costs, especially if there’s underlying damage that needs repair.

It can be assumed that the smaller the siding boards are, the higher the labor costs for their installation will be, so if you opt for fiber cement siding instead of metal wall panels, you have to expect to pay more for labor. In our opinion, however, it’s not worth cutting expenses. Engaging a professional siding contractor in Chicago ensures quality workmanship and can prevent future issues related to improper installation. Professionals have the expertise to handle unexpected challenges, which can save you money in the long run.

Additional Factors Affecting Costs

Insulation Upgrades: Adding insulation beneath the siding can improve energy efficiency but may add $1 to $4 per square foot to your total cost.
Permits and Inspections: Depending on local regulations, permits might cost between $200 and $500. Inspections ensure the work meets building codes.
Customization and Aesthetics: Special finishes, colors, or design elements can increase material costs by 10% to 15%.
Geographic Location: Labor and material costs can vary based on your region due to differences in living costs and local market rates.

Long-Term Value and Return on Investment

While the upfront cost of siding replacement can be substantial, it’s essential to consider the long-term benefits. High-quality siding can last between 20 to 40 years, depending on the material and maintenance. Top-notch materials such as aluminum or fiber cement are relatively shortly in the construction industry, but till now, they are usually way easier to maintain or clean that more traditional materials such as vinyl or wood. New siding can also increase your home’s resale value. According to Remodeling Magazine’s Cost vs. Value Report, homeowners can recoup up to 76% of the siding replacement cost upon resale. What a great deal!

Moreover, improved insulation and energy efficiency can lead to savings on utility bills. Energy-efficient siding can reduce heating and cooling costs by 7-10%, translating to savings on electricity bills up to $400 per year.

Conclusion

Replacing your home’s siding is a significant investment that involves various factors influencing the total cost. By understanding material options, labor expenses, and additional considerations, you can budget effectively and choose the best solution for your needs. Collaborating with a reputable siding contractor in Chicago ensures professional installation, enhancing your home’s appearance and value for years to come. Careful planning and informed decisions can make your siding replacement a rewarding endeavor that pays off both aesthetically and financially.