The cost to replace a roof is not something most homeowners look forward to. However, a new roof will protect the structure of a home, reduce energy costs and provide a wide range of financial benefits in terms of home value, insurance premiums and the overall cost of ownership. It’s important to consider the many factors that influence the cost to replace a roof in order to get the best value for your money.
Some of the biggest costs that go into a roof replacement project are related to the square footage and roofing materials. The larger the roof, the more it will cost in both materials and labor. This is particularly true when the roof replacement is being done to accommodate a new HVAC system, a skylight or other architectural feature.
Another significant factor is the type of roof. Composition shingles, asphalt shingle and metal roofs tend to be on the less expensive side while slate, tile and wood roofs are more costly. The steepness of a roof is also a factor. A roof that is sloping or has multiple dormers, chimneys and soffits will require specialized roofing materials and more complex installation.
Other additional expenses to be aware of include the cost to replace roof remove an existing roof and the cost to dispose of the old materials. These costs are often a part of a roof replacement quote and can add up to significant sums. It’s also not uncommon for homeowners to have to address structural problems prior to installing a new roof. This could include water damage, rotting or insect infestation issues that need to be addressed in order to install the new roof properly.
It is possible to save money on a roof replacement by planning ahead and getting the job done during a roofer’s off season. This will help to keep costs down because roofers are busier during the summer and fall. It’s also a good idea to shop around for the most competitive prices on roofing materials. Some manufacturers offer coupons or discounts on their products at certain times of the year.
A roof replacement is a major expense, but it’s an investment that will pay off in the long run. A well-installed, high quality roof will last for decades and protect the integrity of a home and its inhabitants.
Many homeowners assume that the cost of a new roof will be too expensive to manage. However, there are several financing options that can make a new roof attainable. A cash-out refinance, a home equity line of credit and even charging the new roof on a credit card can all be good ways to finance the purchase. It’s important to speak with a financial professional to determine which option is the best for your specific situation. A knowledgeable mortgage broker can assist you with the process. They can review your current mortgage and other loan documents to determine what options are available to you.