Home improvements in general can be intimidating- especially when it comes to money. When you have kids to feed, school fees, and braces to afford, it can be a daunting experience trying to plan your finances around a new roof. The first step to making a plan to replace your new roof is to answer this question: how much does a roof replacement cost?
Rescue My Roof is not just made of roofing professionals. Our team members are parents, spouses, coaches, and most importantly, they are human. We understand how big of a struggle it can be to pay for a roof replacement.
Unfortunately, there isn’t a set cost for an asphalt roof. But we can tell you the average range, and what circumstances can impact the price so that you can prepare financially. Here’s the breakdown:
What is the average cost of a roof replacement?
The national average of an asphalt roof replacement in 2022 is approximately $10,000. However, it can range anywhere from $8,500 to $15,000.
Even with the Covid-19 pandemic behind us, we are still feeling its effects on the roofing industry. Prices are continuing to rise, which means you may see the average roof replacement continue to increase in price.
Factors Impacting Asphalt Roof Prices
With roofing prices continuing to rise in 2022, asphalt roofs are no exception.
Here are some factors you can expect to impact the price of an asphalt roof:
1. Material Price Increases
Prices for new roofs have increased drastically. The reason? Manufacturer prices are continuously rising.
Raw materials like oil and plastic have increased in cost. Because the materials now cost more to create, manufacturer prices have risen, and that cost is pushed onto the customer.
The result can be devastating for the roofing industry, where there are so many materials going into a roofing system. Even building materials like wood, metal, and others are getting more expensive.
When manufacturers raise the prices on materials, that is a cost that is ultimately passed down to the homeowner as roofing contractors try to maintain their profit margins.
The average price of an asphalt shingle in early 2022 was $4-$6 per square foot. However, there have been continued price increases from shingle manufacturers since with another recent increase in May 2022.
How can you avoid future price increases? Lock in your price now. When you sign a contract with a contractor they are able to order the materials right away, saving you and your wallet.
2. Material Availability
Many manufacturing companies shut down at the beginning of the pandemic in 2020.
Typically, companies have a busy season and then downtime. During the slower season, they will build up a surplus of materials and use it during the busy season.
However, during the pandemic, when everyone was stuck at home, the demand for home improvement materials went up despite traditionally being a slow season for the manufacturers.
Additionally, manufacturing shut down during this time. So once the manufacturers used their surplus stock, they could not meet consumer demands.
Now that companies can manufacture materials again, that doesn’t mean the coast is clear. Many companies are still unable to manufacture at the same speeds before the pandemic, and they are in a constant state of catch-up.
Decreased manufacturing speeds means less roof options for customers. You’ll find that there’s limited color options when you go to choose your asphalt shingle style.
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 is going to be. But we also have to consider time and labor.
Roofing professionals, whether they are in-house or subcontracted employees, need to be paid.
This is a cost that 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 certain 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 be getting 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 of the roof, you put down the underlayment, and you use a nail gun to secure the shingles in place.
With metal, cedar shake, or slate roofing the process will look a lot different. 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’s going to take. Meaning a bigger roof = more money.
However, you don’t have to be completed 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 are going to 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.
How to Get Started with an Asphalt Roof Replacement
Asphalt roof prices are increasing, which means the time to act is now. If you’re looking into getting a new roof, even in the future, you can lock in your price today.
Once you sign a contract with a roofer they can get all of the materials ordered. So you pay today’s material prices for a future roof replacement.