Is your siding faded, damaged or outdated? Siding installation is a large investment, but it can boost your curb appeal, increase your home value and protect your home better than your old siding.

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Comparing the siding costs based on siding type can help you plan your home improvement project.

Does New Siding Increase a Home's Value?

New siding installation can increase the value of your home and often has a high return on investment. The ROI can vary based on the type of siding you choose. For example, fiber-cement siding offers an average of a 69.4% ROI, and vinyl siding has a 68.3% ROI, according to Remodeling Magazine. While the siding cost is high initially, you recoup a large amount of the investment with increased home value.

How Much Does Siding Cost by Type?

Siding cost depends largely on the material you choose. Vinyl tends to be one of the cheapest siding materials, and things like stucco and wood are on the high end. You'll also find a wide range of prices within each type, which can create some overlap. For example, high-end vinyl siding can cost more than low-end wood siding. Here is a list of common siding types and their typical siding installation costs, based on pricing information from HGTV.

• Vinyl: $2.50 to $11 (CAD 3.30 to CAD 14.50) per square foot
• Wood clapboard: $6 to $9 (CAD 8 to CAD 12) per square foot
• Wood shingle: $7 to $10 (CAD 9 to CAD 13) per square foot
• Stucco: $6 to $10 (CAD 8 to CAD 13) per square foot
• Fiber cement/Hardie Board: $3 to $12 (CAD 4 to CAD 16) per square foot
• Aluminum: $1.75 to $7 (CAD 2.30 to CAD 9) per square foot

These prices include the cost of installation. It's best to get specific quotes from local contractors who can customize the expected budget for your home.

How Much Does Siding Cost to Install?

The typical labor cost for siding installation is $1.25 to $1.50 (CAD 1.65 to CAD 2) per square foot, or about $2,000 to $2,400 (CAD 2,600 to CAD 3,200) total. Some types of siding cost more to install than others because the installation processes are more labor-intensive. For example, stucco is a long, multistep process. The result is that it costs a lot more to install than vinyl siding, which is relatively quick and easy to attach to your home. Labor rates can also vary by area and contractor, so check multiple quotes to compare pricing.

What Are Some Other Cost Factors to Consider?

The average price ranges for different types of siding can help you estimate your siding cost, but there are several factors that can affect the pricing.

• Size and style of your home: Large homes require more materials, and the siding installation process takes longer, which increases labor costs. It can also cost more for a multistory house because it requires higher ladders or lifts to do the work. Complex architecture can increase the cost because it's more challenging to install the siding around those features.
• Material quality: Whether you choose a high-end or low-end version of the siding material impacts your total cost.
• Siding details: You can also drive up the cost of your project by choosing decorative siding with a unique texture, color or design. For example, you can get fiber cement siding that looks like wood or stucco. Those different designs tend to cost more.
• Siding removal: Removing and disposing of the old siding adds to the labor costs. It's usually necessary to remove the old siding.
• Repairs: If the exterior walls have damage beneath the old siding, the contractor will need to make the repairs. Paying for the labor and materials increases the project total.
• Time of year: Planning your siding project during slower periods — usually fall and winter — can save you money. Contractors sometimes offer lower quotes when they're not as busy.
• Additions: Your siding job might need a few extras to give your home a finished look. Examples include soffit, fascia and shutters.

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Ways to Save Money on Siding

Siding is an expensive home improvement project, but there are ways to save money. Try these options:

• Get quotes from at least three siding companies.
• Choose a reputable siding contractor. Companies that aren't trustworthy might install the siding incorrectly and cause you to spend more money to fix it, or they might leave the job unfinished.
• Don't pay for the entire job upfront. The contractor could skip town with your money.
• Remove the old siding yourself.
• Negotiate with the siding contractors to get a lower price.

It's not always advisable to choose the cheapest contractor you find. If they're charging significantly less than other contractors, they might be inexperienced, or they might cut corners. Likewise, it's often better to go with a slightly higher-quality siding than the bottom option. Inexpensive materials won't hold up as well as higher-quality options that are more durable. Investing a little more now can give you more life out of the siding.

All CAD conversions are based on the exchange rate on the date of publication.