Replacing your roof is an important investment to make in your home, but like any investment, it can be a significant amount. Once you’ve determined that it’s time for a new roof, finding out how much you’ll need to budget to make it happen is the next step.
Average Cost of a New Roof
The national average cost of a new roof was $7,300 in 2019, according to Home Advisor, although finding an average is difficult because there are so many variables. The average cost of a new roof is priced per 100 square feet (referred to as a roofing square) and consists of three factors: materials, labor, and disposal. Labor usually accounts for 40-50% of the cost. The high end for an average roof replacement is approximately $20,000. However, these costs are for standard sized, average roofs with no underlying water damage. If there are other issues that need to be addressed, the cost can increase.
Variables That Impact the Cost of a New Roof
There are many variables, all of which can impact the average cost of a new roof. Roofing prices may vary based on where you live. In certain areas of the country, the average cost is higher. It is also obvious that the size of the roof will impact the cost. A bigger roof will have more material and labor. An asphalt roof is the most common and cost-effective roof, but other materials like tile or slate will cost more. Chimneys and skylights can increase the cost because of the materials needed to install around them. If there is water damage that needs to be repaired, that will also increase the cost. And the steeper the roof, the higher the cost. This is because it is more dangerous for the roofers, and they require more safety equipment. Getting an estimate from a qualified roofer will help you recognize which variables will apply to your situation.
How to Save Money on a New Roof
One thing that can save you a significant amount of money is an overlay. This means that you lay a second layer of roofing materials onto your already existing roof. While you will save money, this is something to think about carefully. An overlay will not last as long, can void a warranty you may have on your materials, and will ultimately end up costing you more when you do have to do a full replacement. The best way to save money is to be informed when going into the process. Do your research on what you are looking for and what needs to be done. If you’ve had damage to your roof from a storm or other conditions (rather than age or neglect), you may be able to get your homeowner’s insurance to cover some, or even all, of the cost.
Shopping around by getting estimates from several contractors is important but bear in mind that the lowest price may not always be the best deal. Talking to a roofing contractor about what to expect is the best way to understand what you are undertaking with a new roof project. Contact us today for an estimate and to schedule a roof replacement with our experienced installation team.