How to Budget for Roofing & Siding Costs

Consult with several companies to get an idea of the cost of various roofing and siding materials in your area. The more companies you consult with, the better informed you will be when making your budget.

Calculate a budget. Figure how much you can afford to spend on a new roof and siding for your home without depleting your savings or going into debt. Use the information you gathered while consulting with various companies to choose a realistic amount.

Consider the cost of different types of roofing materials that might fit within your budget. For example, an asphalt shingle roof costs about $680 to $3,700 for a 1,700-to-2,100-square-foot roof as of 2011. You can install this type of roof yourself. If you go with a more expensive option, such as a slate roof, you're likely to pay $17,000 to $84,000 for materials and thousands more for installation. However, a slate roof is more long lasting than an asphalt shingle roof. Consider the price for materials and installation and the longevity of roofing materials to help you make your budget.

Pay attention to the different siding options for your home, as well. Vinyl siding is a popular choice and will cost $2 to $7 per square foot of material. A more expensive choice is fiber cement siding, which is more like $4.50 to $11 per square foot. Like the roofing budget, be sure to factor in the costs of installation if you don't plan to complete the project yourself.

Factor in the value of your time when budgeting for a new roof and siding for your home. This is necessary if you plan to install any of the materials yourself. If you can do this during free time, it will save you money. However, if you would need to take unpaid time off work to complete the project, decide whether it makes more fiscal sense to hire a company to install the materials.