Buying a new roof is a significant financial investment, which leaves many homeowners wondering how they should calculate their budget.
Budgeting, finding ways to pay, and the realistic price of a roof in 2022 leave homeowners at a loss. If you’re not sure how to move forward with replacing your roof, you’re in the right place.
Rescue My Roof has served hundreds of happy homeowners for over a decade, educating them on making the right decisions for their homes and budgets.
This article will cover how much a roof replacement costs and factors that may impact the price. In the end, you’ll know what to expect financially when buying a new roof.
How Much Does A Roof Cost in 2022?
The national average of an asphalt roof replacement in 2022 is approximately $10,000. However, it can range anywhere from $8,500 to $20,000.
However, these prices are not a guarantee. The price of a roof varies depending on the size of your roof, materials, and the contractor you choose.
With a traditional asphalt roof, the average price in Wisconsin is $12,000. Larger roofs can range from $15 – 20,000.
What Factors Impact Roof Pricing?
As we said before, prices can differ based on the materials you choose and the size of your home.
Additionally, time, labor, installation methods, and the potential use of specialty contractors can cause prices to fluctuate.
Here is what you need to know:
How Will Labor and Time Affect the Cost of My Roof?
Think about the overall cost of your roof, and split the costs into three categories: materials, labor, and profits.
There are three different types of asphalt shingles to choose from 3-tab, dimensional, and luxury. The more expensive the shingle you choose, the more expensive the overall roof will be. But we also have to consider time and labor.
Whether in-house or subcontracted employees, Roofing professionals need to be paid.
This cost is factored into the initial estimate you receive from your roofing company and shouldn’t increase afterward.
Specialized Crews and Contractors
Traditional asphalt roofs only take approximately two days to complete. However, if you choose a specific shingle manufacturer, you will need a contractor certified in their installation process.
Specialized crews can charge more because they are experts at what they do. They should have the reviews and the portfolio to prove it. You know you will get the best-of-the-best in your area when you hire them to complete your project.
Different materials and different crews will require different installation methods.
We will continue to use asphalt shingles as a comparison because they are one of the most common types of roofs. With asphalt shingles, the installation process is relatively simple. You strip everything off the roof, put down the underlayment, and use a nail gun to secure the shingles in place.
The process will look a lot different with metal, cedar shake, or slate roofing. The thickness of the tiles and the materials may mean they have alternative means of securing them to your roof. And the extra time and labor it takes to do so will cost you.
The more square footage you have, the more your roof will cost.
Do you know the square footage of your roof? If not, that’s okay. Here’s how you can calculate it:
How to Calculate the Square Footage of Your Roof to Estimate Price
The larger the roof, the more time, labor, and materials it will take, which means a bigger roof = more money.
However, you don’t have to be completely blindsided by this cost. There are ways to calculate the square footage of your home to give you a rough idea of how much you will have to pay. You’re going to need these three numbers:
- The length of your home
- The width of your home
- And a number ranging between 1.04 and 1.06 (the steeper your roof appears, the higher the number you use)
Using these variables, your calculation is going to look like this:
If your home is 40 feet long and 25 feet wide, this is the equation you’d use: 40×25=1000
Then, take your answer and multiply it by your steepness variable. I am choosing 1.12
1,000 x 1.12= 1,112 square ft.
Ta-da! A roof for the home with these dimensions would be approximately 1,112 square feet. This number won’t be perfect, but it can give you an idea.
What is the price of roofing materials?
Asphalt shingles are typically your cheapest shingle option, ranging from $1 – $2 per square foot.
However, there are even more options available for different price points. We’ve listed them below:
Slate, cedar shake, and clay tiles are premium roofing options for bigger budgets.
Depending on the look you want for your home and your budget, one of those options may interest you.
How to Set Your Roofing Budget
As seen above, shingle prices can vary greatly from material to material.
Premium materials like slate, metal, and wood will be much more pricey than your traditional asphalt shingle.
If you have a lower budget and need cost-effective options, that will narrow your choices. You may have to use the traditional asphalt shingle to save on costs.
While you might get better durability with premium materials, there are still benefits to sticking with the asphalt shingles, like a lower price, 50-year warranties, and many color choices.
How to Get Started with A Roof Replacement
The first step before looking for a roofing contractor is determining your budget. To set a realistic budget, you’ll have to consider your choice of materials, average roof costs, and the size of your roof to get the most accurate estimate.
Additionally, you may consider adding a contingency fund to your budget to cover any unexpected expenses that can arise during the roofing process.
Once you’ve considered all of the variables, you may find your roofing budget ranges anywhere from $8,000 to upwards of $20,000, depending on your vision for your home.
If you’re not ready to take the plunge and buy a new roof, you can learn more about asphalt roofs with “The Top 5 Problems with Asphalt Roofs” and “How Hard is it to Find a Roofing Contractor?”
If you want to start collecting estimates, you’re in the right place. Rescue My Roof has provided over a decade of high-quality service to homeowners across Southeastern Wisconsin.
You can get a free, fast, and honest evaluation by contacting us today.