When it comes to budgeting your money for a new roof, there is never a basic setlist of prices. Each home is different, based on the size and complexity of the roof. There will also be major differences depending on the type of damage that may be present for the roof, and the materials that will be used for repairs or replacement. Here are some considerations when you are planning to budget your finances toward a new roof:
Before starting your budget, you need to understand what you are budgeting for when it comes to the roof. Obtaining a roof inspection at the very beginning allows you to gain a clearer picture of the true state of your roof. The roofing contractor may spot other issues that cannot be seen from the ground that should be repaired or replaced. With this information, you can determine whether your roof only needs repairs or if you’ll need to get a new roof.
Obtain Multiple Roofing Contractor Estimates
After getting an inspection, you don’t want to just settle on the contractor who did the evaluation. Obtain multiple estimates from other contractors for the work. Find out about the work they’ll perform, how many crews they will use, and their work schedule. With those estimates, you can get a ballpark figure regarding the repair or replacement costs for the roof based on the square footage. Keep in mind to not just select the lowest bid. Research the companies and pick the one that will perform the best work at a reasonable price.
Start Saving Early
There are many different ways to set up a budget, yet the thing to consider is the timeline on when to get the roof replacement or repairs. Do you need emergency work, or can the roof wait for a few months? Figure out the timeline based on the work needed.
Start saving early by setting aside 1% of your home’s value each month as your budget. You can also aggressively save a certain amount each month as you wait on repairs. Keep in mind that national roof replacement costs may average around $8,000, while people may pay as low as $5,000 to as high as $11,000. Always plan to save more than the estimate you are quoted, such as adding on another 10% to cover emergencies, labor, and materials.
Getting roof repair or replacement should not be a rushed process. If you are able to take your time, budget your finances properly so you have enough to get the work done without straining your bank account. Reach out to Brandstetter’s KangaRoof for a roof estimate today.