The old adage is true; the cheapest paint is not necessarily the most inexpensive. Before you make a decision based on price consider this: lower quality paints require more coats to cover the surface, are not as durable and usually need repainting much sooner. This is especially true for exterior paint.
To get true reading of the cost, look beyond the price tag and compare the “cost per year of service.” Let’s say you are painting home that requires 20 gallons of exterior latex paint, you have 2 options:
- Buy a low quality, exterior paint at $20 per gallon with an expected lifespan of six (6) years.
- Buy a high quality, exterior paint at $35 per gallon with an expected lifespan of twenty (20) years.
In the first scenario, your out of pocket material cost would be $400 (20 gallons at $20). Since the paint is expected to last six years, the “cost per year” is $400, or $67 per year. If you use a higher quality paint, your material cost is $700, but since you will not need to repaint in at least 20 years, your “cost per year” is $35. By choosing the high-priced quality paint, you actually save $32 a year in paint expenses.
That is a small amount of money for materials only. Once you add labor into the equation and the increased frequency to paint your house, the cost will be significantly higher.