The Real Cost of a New Roof
Not sure how much it will cost to replace your roof? You are not alone – the price of a new roof varies depending on where you live and what type of roof you choose. In this blog post, we will show you what goes into pricing a replacement roof, give you an idea of what’s included in the final cost and share some red flags to watch out for during quotes.
Where Are You Located
The first step to knowing how much you will spend on a new roof is your location. The price for materials and labor will depend on where you are situated. For example, those in areas with an inflated cost of living should anticipate spending more money than someone in a rural area.
Time of Year
The time of year when you need your roof replaced can also affect the price. Roofing companies are busiest during the fall and winter months because of rain/snow/etc. urges homeowners to get a leak fixed; you may pay a premium if you need your roof replaced during those times. Also, if your area has recently experienced a storm or severe weather, roofing companies may be overwhelmed with helping clients, and that demand can cause delays and increase costs for the customer.
Another thing to keep in mind is that prices usually inflate during the new year due to factors such as raises in material costs, interest rates, and other similar expenses. If you book before the end of the year, you’re more likely to get a cheaper price than if you wait until early into the new year.
Size of House
The real cost of a new roof is relative to the size of your house. A smaller home will, obviously, require fewer materials and man-hours; resulting in a lower total cost. You’ll see significant price changes based on the square footage when you compare 1000 sq ft homes to those between 1000-2000 or 2000+. So before reaching out to any roofing companies, be sure that you know exactly how many square feet are in your home.
Paying with cash will always reduce your real cost of a new roof but may not always be possible. If you do not have the cash on hand to pay for your roof replacement upfront, you may need to finance it. Depending on the roofing companies in your area, many offer financing options. Many financing options do charge fees but in many cases, they offer low-interest rates and can make a new roof completely possible.
A key point to remember with financing is inflation. Many people delay getting a roof replacement because they think it’s too expensive and they’ll wait until “they can afford it”. The problem is that inflation will always drive up the cost of replacement, so if you have access to good financing, your interest rate may be lower than the rate of inflation, which means you’ll save money by doing it now.
Many roofing companies even offer financing with monthly terms and early payoff, so there is little downside. Roof MD specifically offers to finance roof replacements with monthly payments as low as $65 per month.
Another cost to factor in when budgeting for a new roof is inspections. High-quality roofing companies do not charge for roof inspections and can be an easy way to filter good vs poor roofing companies However, some do charge for inspection, so if they do, expect to pay $100-$200 per inspection. Remember, roof inspections are a necessary step in the roof replacement process because they give the roofers adequate information to provide an accurate quote.
Whether revealed in your roofing inspection or later in the process, roof leaks and structural damage can increase the cost of your roof replacement. In some cases, severe leaks can cause damage to the structure of the house and that can increase the cost of the replacement significantly.
Underlayment functions as a protective barrier between your home and roofing materials, typically composed of felt paper or synthetic fabric (the latter being preferable). Its installation is crucial in averting water damage. If you want to be certain that the underlayment will adequately protect your home, only consider quotes from reliable companies who always use new materials for this part of the process–not recycled ones. Although opting for recycled methods may seem like it saves money initially, weakening protection leaves homeowners vulnerable to expensive leaks down the road.
Ice & Water Shields
Ice and water shields are underlayment’s that prevent leaks by providing an extra layer of protection. They work best in areas where ice dams or leaks commonly occur, such as around chimneys or in valleys. If you live somewhere with a lot of rain, snow, or storms, we believe it is necessary to use them during a roof replacement project.
Starter strips are used to secure the first row of shingles and help to prevent wind damage.
Flashings are used to seal around vents, skylights, and chimneys. They are usually made of metal or rubber and help to prevent leaks. This is another area of roof replacement where reuse can become a problem. Many contractors try to save as much flashing as possible to reduce their costs and speed up their replacement process. Reusing flashing can lead to a premature loss of seal and moisture seeping into the underlayment and the home itself. Always make sure to use a roofing company that replaces all your flashing.
A system of pipes and vents, venting helps to keep attics cool and dry. Proper ventilation is crucial to a successful roof replacement because it ensures proper circulation of air in your home through eaves or exhaust vents. If this step is mishandled it can lead to overheating your home forcing your AC to run unnecessarily costing you money in utilities.
A high-quality roof company will evaluate your venting situation during your inspection and include the cost of correcting any venting issues in your roof replacement.
Shingle Choice (Material Choices)
One of the most important factors that will affect the cost of your roof replacement is the type of shingle material you choose. Shingle roofs are by far the most common, and roofing companies will rarely recommend switching to another material type (for example, converting an asphalt shingle to a wood shake roof). So for this post, we’re mainly talking about replacing existing shingles with new ones.
Many roofing companies present different levels of shingles these options include a less expensive but shorter-lived entry-level product. In the middle, you have a mid-tier solution with better quality and longevity. And then at the highest end, you have a luxury option that comes with an increased cost. Depending on where you live and what your needs are, Roof MD event offers a Class 4 Hail-Resistant shingle install that can lower your insurance premiums by up to 20%. The level and color chosen will affect replacement costs most significantly. At Roof MD we only use Owen Corning shingles because they offer superior quality compared to other products available on the market today. Be sure to speak with your roofing contractor about all of the different options that are available before making any decisions
Some roofers will recycle shingles for parts of the roof. For example, they will use old shingles as the starter course for the new roof. However, this is cause for concern as shingles have a set lifespan- regardless of how new they look. This cost-effective measure for roofers will likely cause problems with your roof down the road.
When considering a roofing company, keep in mind that most offer some form of warranty or certification. However, the length and scope of these can differ significantly. Additionally, it’s important to research the longevity of the company itself – you don’t want to work with a roofer who may not be around in a few years to honor their warranties. The majority of roofing materials are sourced from vendors. If you have an issue with the product down the road, your roofer will likely work with the vendor to get a replacement for you; however, labor may not be included in this warranty. Before making your final decision on a roofing company, make sure to ask about their warranty policy.
The price you pay for labor depends on the roofing company. A key difference in the labor rate will come down to how well-trained their staff is and if they use subcontractors. If a quote seems too good to be true, it might mean that they’re using unskilled workers which could cause problems with your roof replacement. An extremely high quote might mean they rely too much on subcontractors, which can make scheduling and communication difficult for your project. Get three estimates before making your final decision.
Permitting (If Applicable)
Depending on your location, getting a permit for your roofing project could add an extra $2000 to the total cost. And because most roofing companies spend additional time and labor securing and coordinating the permitting process, that price is likely to go up even more. In Tennessee, for example, permits aren’t required very often, resulting in a lower overall cost for replacement projects.
Last but not least, the price of post-work cleanup should be included in your estimate. This is a key part of the process that is often overlooked, and it can make or break a roofing company. Be sure to ask about their cleanup procedures before making your final choice.
Ready to Get Your Cost of a New Roof? What Next?
If you need a roof replacement, the first step is to find a reputable roofing company. Be sure to do your research and get multiple estimates before making your final decision.
A roof replacement is a big investment, but it is an important one. A new roof will protect your home from the elements and help it to last for years to come. When you are ready to get started contact your local roofing company including Roof MD to set up a FREE Roofing Inspection.