How much does a new roof cost? Analyzing the cost of a new roof

by The Carpenter

How much does a new roof cost? Analyzing the cost of a new roof

A new roof is one of the most important investments you can make in your home. Not only does it keep your house dry when it rains or snows, but it insulates, protects, and increases the resale value of your home for the future. Many people dread replacing it though with the cost of a new roof scaring them away at first glance. The good news is investing in a new quality roof is a great investment and is well worth doing, even if it costs you a little more in the short term.

When looking at new roof options most people look at asphalt shingle roofs exclusively, but there are other options available depending on how much money you wanted to spend. Options like a new tile roof cost around twice as much as asphalt, but they are more resistant to fire and depending on the area of the country may have extra benefits like keeping insects away or holding up better in the hot sun. Wood roof costs a little more than asphalt roofs as well, but some people prefer the aesthetic benefits of a wood roof over asphalt. In my opinion though I would rather have an asphalt shingle roof as they last longer and are more fire resistant than wood.

Typically most roofs asphalt shingle roofs cost between $1-3 dollars per square foot, but this depends on a lot of factors like where in the country you live, the availability of your roofing materials, how many roofing contractors work in your area and what kind of slope your roof has… just to name a few… so just use this roofing cost estimate as a rule of thumb, not written in stone.

There are a number of factors to consider when reviewing the cost of a new roof. First, if you are handy like me then you may want to consider doing the roofing labor yourself. Typically roofing labor costs can be anywhere from 50-75% of the cost of a new roof so if you can do the job yourself (and can do it RIGHT) then you may want to consider it. If you aren’t prepared to do it yourself you may have a friend or family member who can do the job for you as well for a reduced price, this is always an option but is not available for everyone.

If you wanted to save money on a new roof you could put on a less expensive asphalt shingle roof with a shorter warranty period. Typically a new shingle roof will last approximately 30 years but you can get a less expensive quality which will last between 15 and 20 years. Since the roof doesn’t last as long it costs less and saves you money in the short term, but is more expensive if you plan on living in the house for a long period of time. If your house costs $5,000 for a 30 year roof but a 15-20 year roof costs $3,500 you are saving $1,500 right away, but if you plan on living in your house for the 30 years you would need the roof done twice which would wind up costing you $7,000 instead.

Another thing to think about if you are considering a lower quality roof is that the cost of everything goes up after a few years so a roof that might cost you $3,500 today may cost you $6,000 or more in 15 years, so you may end up paying close to $10,000 for 30 years worth of roofing. Obviously if you don’t have the money and need an emergency roof replacement now then the lower quality roof is a better option, but if you can afford it you are better off with the good quality roof and spending a few extra dollars.

I know that roofing costs can be scary, especially in this economy, but a good new roof is really is one of the best investments you can make in your home. There are a lot of ways to save money either by doing it yourself, finding less expensive materials or compromising on quality, but don’t let the cost of a new roof dissuade you from making a good long term investment in your home.

© How much does a new roof cost? Analyzing the cost of a new roof

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