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Health & Family

Personal Loans for New Exterior Siding on Your House

exterior siding for your house

Depending on the type of home you have, it’s possible the exterior is covered with some form of siding.

The most common types of siding include:

  • Vinyl
  • Aluminum
  • Metal
  • Wood
  • Fiber cement (commonly known as Hardie board)

While there are pros and cons associated with each type, they all have one thing in common: it’ll probably need replaced at some point in time (unlike brick, for example).

As the years go by, many things can go wrong with your home’s exterior siding.

Vinyl and aluminum siding, for example, can begin to warp. Wood siding, on the other hand, can split and chip.

With this in mind, there may come a time when you have to consider a siding replacement project. When this happens, there are several details to take into consideration.

Is Siding Replacement Worth It?

First and foremost, you’ll want to learn more about the cost associated with each type of siding.

According to DIY Network, you can expect to pay somewhere in the range of $6,000 to $13,000 for vinyl siding on an average size two-story home.

If you opt for a more durable product, such as fiber cement, the cost can quickly grow, with an estimated range of $13,000 to $22,000 for an average size two-story home.

While this is a considerable cost, it may also add value to your home. According to the 2018 Cost vs Value report from Remodeling, siding replacement increases resale values, on average, by more than $11,554.

We’ll discuss the cost of new siding in greater detail below, but for now let’s review some other points of consideration:

  • Let’s face it: every homeowner has his or her own opinion as to what looks best in regards to siding. How will each type of siding look on your home? What colors are available? Are you interested in a particular texture? These are all questions to answer.
  • Weather resistance. This is more important to some than others, as they live in a region where the weather greatly changes from season to season. For example, some types of siding (vinyl) are more water resistant than others (wood). If you live in a region where rain and/or snow is commonplace, this should factor into your decision.
  • Energy efficiency. If you’re going to pay for new siding you might as well do your best to save money on the back end. This is where energy efficiency comes into play. Learn more about the R-value of each type of siding (the higher the number the more insulation it provides).
  • You don’t want to find yourself replacing your home’s siding more often than you have to. This is why durability is such a big deal. How long does each type of siding last? Can it be painted or regularly cleaned to maintain its appearance? Durability is a big deal, as this will have an impact on your finances over the long run.

How to Pay for New Siding

Now that you know what to consider when shopping for new siding, it’s time to decide how to pay for your project.

Even if you have the knowledge and experience to install the siding yourself, you’re still faced with a large expense for material.

Do you have money in an emergency account to pay for your project? If so, this is often the best idea as you don’t have to take on any debt.

Conversely, if you don’t have enough money saved or you don’t want to spend your cash reserves, it’s time to consider other options.

personal loan for home remodeling and repairs can offer a variety of benefits:

  • Borrow just the right amount of money (not too much or too little)
  • Competitive rates when compared to other options, such as a credit card
  • Ability to receive funds within one business day of signing the loan agreement (so you can start your project sooner rather than later)

With this information guiding you, it may be time to move this project to the top of your to-do list.