A roof replacement is likely to be one of the most expensive home repair projects any homeowner will encounter. Based on data collated by HomeAdvisor, the average cost of replacing a roof in the United States is around $8,000, with some homeowners paying upward of $11,000. Few Americans have the financial flexibility to afford this large expense all at once, and many need to explore financing options to have their roof work completed when they need it.
Keeping your roof replacement project on a budget can be a significant challenge. It is common for some homeowners to receive quotes for the work they need, only to discover later other factors that drive up the cost of their roof replacement projects. The following tips can help any homeowner who needs a roof replacement but only has a limited budget.
Do not rush
Unless your roof has sustained serious damage from a fallen tree or severe storm, you should not rush to hire a roofer and have your roof replaced as quickly as possible. It is worth taking time to thoroughly investigate all available options before committing to any roofer. Start by determining what type of roof you want installed and contact a few local roofers with positive reviews from local clients to start gathering quotes. You can also ask friends, family, and neighbors for their recommendations.
Compare quotes and ask questions
Once you have quotes for your roof replacement from a few reputable roofing companies, compare them. If one quote seems significantly more or less expensive than the others, pay close attention to how the quote is broken down. Ask the roofer why they have set this quote and what they have factored into the estimate.
It is also wise to carefully research the ballpark cost of the roof replacement work you require. This will help you determine which quote you received is the fairest and most reasonable and ultimately guide you to a more informed decision.
Choose reasonably priced materials
Whether you are replacing your roof due to regular wear and tear or you want to boost your property value before listing your home on the market, it’s crucial to understand the return on investment you’ll see from the new roof. Some homeowners make the mistake of thinking that more expensive roofing materials mean they will be able to ask for a higher listing price, but this isn’t necessarily true. Most homebuyers prefer cohesion in a neighborhood, so if your new roof stands out too much from your neighbors’ roofs, it can turn off a potential buyer.
Selecting medium-range materials is typically the best option if you want to secure a suitable return on your investment. If you are concerned about keeping your project within a specific budget, do not make the mistake of allocating too much to the cost of expensive roofing materials you don’t need.
Stick to your plan
One of the biggest mistakes any homeowner can make with a roof replacement project is making last-second changes. Once work has begun, the only acceptable change is to address previously unseen roof damage that is only discovered once the roofing crew has started. It’s not uncommon for roofers to start removing an old roof only to discover further issues in the roof bed or underlying roof structures.
If something unforeseen does appear once roof replacement has started, consult your roofing team closely to determine the most efficient and cost-effective solution that will not break your budget.
Create an emergency fund
It’s wise to allocate about 10% to 15% of your overall project budget to an emergency fund. This additional pool of funds can be useful should your roofing team encounter issues you did not expect, and it can also help you keep your budget as practical and reliable as possible. If your roofing team does not encounter any unexpected problems, this emergency fund stays in your pocket.
Choose a reliable roofing contractor
One of the most important things you must remember if you want to keep your roofing project under budget is to select the right team for the job. Before committing to any roofer’s services, verify their licenses and credentials, and do whatever you can to ensure they can perform the work you require. You should also check reviews to ensure past clients have not had any surprise charges on their final bills or other unexpected mishaps.
Mr. Roof is committed to providing professional roofing services with outstanding customer service. If you need a roof replacement with a tight budget, our team will work with you to determine the best solution that offers financial flexibility. Contact us today to learn more about our roof replacement services.