Replacing a roof can be a huge investment that requires considerable planning and execution. These are not simple DIY projects that can be achieved over a weekend.
Natural disasters are becoming more prominent in today’s world, so it’s critical that you take the time to consider every key factor when installing a new roof. Cutting corners on roof installation can come back to haunt you down the line.
In this article, we walk you through the costs associated with installing new roofs and discuss some tips for budgeting when undergoing such a massive project.
Categories of New Roof Costs
While replacing a roof can seem daunting at first, the associated costs are actually quite easy to pinpoint. Here, we’ve broken down new roof costs into two basic categories.
This includes the cost of roofing shingles, underlayment, drip edges, and various protective coatings, as well as any kind of adhesive or extraneous material necessary during installation. The materials for a new roof are typically priced by square foot, so make sure you know the dimensions of your roof.
Asphalt is considered one of the cheapest and most effective roofing material on the market and runs anywhere from $3 to $5 per square foot. For an average roof, which is usually about 1700 square feet, this equates to anywhere from $5000 to $8000. These numbers reflect installation and removal costs, which we will discuss below.
Per square foot
1700 square feet
If you decide to go with a more expensive material, like tile or metal, then your costs could be as high as $8 per square foot, which would equate to almost $14,000.
Remember that the more you invest in your roof, the more likely can you command a higher resale value should you decide to sell the house in the future. Thus, when budgeting, keep in mind that a higher-quality, more expensive roof might pay dividends later on, while a cheaper roof might make it harder to market your house.
This element of new roof costs will vary with the professional contractor you employ. In general, you can assume that when considering the overall price of repair, about half of it will stem from labor costs while the other half will stem from materials costs.
The type of shingles you decide to go with will also affect the
cost affect the cost of labor, as some of them are lighter, thinner, and easier to install while others are heavier, thicker, and require more time and energy for installation.
Part of the cost of labor also entails the disposal of previous roofing materials. You can cut down on this cost by installing new shingles on top of your previous ones, as this technique requires less time and materials. However, this overlay technique is more of a temporary fix and might result in higher costs down the road.
Some Tips for Budgeting
Many of the materials you purchase for roof installation will advertise certain guarantees, such as they can last for 15, 20, or even 50 years. These materials sometimes even come with manufacturer warranties in case of failure or defect. However, most experienced homeowners know that these are overestimates.
Additionally, in the case of failure or defect, it is extremely difficult to prove that the underlying constitution of the materials was the problem rather than improper installation. Thus, when budgeting long term, do not rely on these warranties, as it is likely that you will have to invest in new materials sooner than you think.
Regardless of the contractor you go with or the materials you choose, the best way to budget is by comparing quotes from multiple sources. This means both asking friends and families for their advice as well as reaching out to different companies in the area. Remember that these companies need you just as much as you need them, so they are always willing to give you estimates and discounts if you are persistent enough.
Lastly and most importantly, roofs are arguably the most critical luxury your house can provide. Even though they are expensive when considered in totality, if you consider their new roof cost on a daily or weekly basis, they are considerably cheaper. Or, you could consider their cost on a different basis—like every time it rains
Viewing roofs in this way allows you to see their essential value, thus making budgeting easier and less stressful.
Our Final Thoughts on New Roof Costs
We think that new roof costs are only expensive when viewed at face value. Over time, these initial costs will be balanced by the tremendous benefits a new roof offers, especially when inclement weather strike. We think that the best way to approach budgeting for new roof costs is to first determine the materials and overall style you want for your new roof. Then, shop around and compare estimates.