A siding estimate from a reputable contractor becomes a contract once it is signed, so it’s important that you understand the elements within it. This quote outlines all the aspects of your siding project: your siding panel material, trim, soffits, labor, repairs, and more—depending on your exterior’s needs.
As a homeowner, obtaining at least three estimates for your siding replacement is reasonable. This allows you to understand your options and find the best fit for your needs before hiring a contractor.
Let’s look at the elements included in a siding quote and estimate.
Understanding Siding Estimates
1. The type of work planned should be outlined
Replacement siding is a significant investment, and you deserve to know the facts about what you are investing in. It should address the full scope of your siding replacement project and any anticipated repairs needed before it is installed. If you need siding replacement, repairs, or both, it should be clearly stated in your estimate. It is hard to accurately estimate what damage is done behind the siding, but this should be mentioned by the siding company.
Note: The size and shape of your home will impact the overall price of your siding replacement. A one-story Ranch home vs. a multi-story architecturally complex home will be reflected in the price.
2. Contingencies should be included
Contingencies that could result in cost overruns or interruptions (due to weather) should be clearly stated.
3. The business’s physical address should be visible
The siding contractor’s contact information should be on the estimate. Unfortunately, storm chasers are real; they come into town after a severe storm and scam people. An easy way to spot them is that their business won’t have a physical address, and their estimate will be either super high or much lower than others.
4. Proof of licensure is important
It is important that your siding contractor possesses a valid license. In Colorado, contractor licenses are typically issued at the municipality or county level.
5. A reasonable payment plan should be included
A fair and feasible payment plan should be incorporated into the estimate. Be wary of contractors who demand the entire project cost upfront. Ideally, anticipate paying up to 50% of the total cost before the siding replacement commences and the remaining balance upon completion. At our company, we typically request a 50% deposit upon signing the contract, with the remaining 50% due at project completion. We may hold back up to 10% of the final payment for any necessary corrections.
6. Financing if needed
If your contractor offers financing in-house, it is advisable to comprehend the terms and conditions of the financing agreement before accepting it. Occasionally you will see this information on the estimate as well.
7. The materials needed for your siding replacement should be detailed
The brand of siding, the quantity of materials needed, and a description of the materials should all be included in your estimate. Siding style should also be noted: horizontal panels, vertical panels, shakes, trim, soffits, and more.
8. Warranty information should be outlined in detail
You should have—in writing—a warranty from the manufacturer of your siding materials and a warranty on the workmanship for siding installation. Ensure you understand what could void the warranties, how long they last, and what they do and don’t cover.
9. Liability insurance coverage
You can rest at ease when you verify the contractor’s current liability insurance coverage. Again, it’s helpful if this is included in the estimate, but if it isn’t, check with the contractor for proof of current liability insurance. You’ll be glad you did if it is ever needed.
10. Insurance claim instructions
While this may not be on all estimates, it’s helpful if insurance claim instructions are included. If it isn’t, simply ask the contractor so you will be better prepared with the facts should you need them in the future.
Reliable Siding Replacement for Your Denver Area Home
At Refined Exteriors, we are a local company that prides itself on building trust and relationships in the community. We value your time, so we accommodate your preferred method of communication, including text messages.
Learn more about our siding services.