Option 1: Painting Your Home
Painting your home is much less expensive than siding with any material and can last several years. High-quality paint lasts longer but typically about double the cost of regular paint.
For DIY, additional costs may include renting equipment. You may also need to consider costs of masking tape, drop cloths, brushes and paint pans.
If hiring a contractor, labor will account for up to 85% of the cost.
Drawbacks
Even the best quality paint will need to be replaced in five to seven years, and cheaper paint will peel and fade in four years or less.
Costs of Siding Material
Option 2: Siding your home
Siding is available in a wide range of materials. Non-hardwood sidings are the cheapest, fiber cement board, hardwood, aluminum, slate shingles, wood shingles and shake siding, brick and stone veneer, brick and stone. All of these materials cost more than paint, but they also last longer, are more durable and, in most cases, have less maintenance.
Siding materials such as wood, vinyl, and cement board, if sufficiently maintained, will last anywhere from 25 to 50 years, and other materials such as stone, brick, brick veneer, and slate can last for centuries.
Drawbacks
Not all siding is created equal, and some of the more affordable options are the least durable and weather-resistant. Vinyl siding is highly flexible and tends to bend and warp. Because it expands and contracts in temperature changes, the paint on it chips off or cracks and will then need to be re-painted or replaced. Wood siding, too, will need to be continually kept up to keep it protected against fading, weathering, mold, and rot.
The color selection is generally good, it is more limited than paint, and if you choose a siding with a tendency to fade, chip or warp, you may end up painting anyway.
