While you don’t have to worry about replacing your roof often in your life, when you do, you can usually expect between a 56-60% ROI on the project. While that’s a great return, many people worry about the initial roof installation cost.
So, if you need a new roof, how much can you expect to pay? The truth is that it depends. Typically, you can expect the project to range between $5,000 and $15,000, but in some cases, you may have to pay upwards of $40,000.
Why is there such a big range in the cost of a roof installation? We’re glad you asked. There are a few different factors that impact the final cost you pay. Read on to learn more about them.
The Materials You Choose
First and foremost, there are a number of different roofing materials you can choose for your installation project. Generally speaking, the most popular materials include:
- Asphalt shingles
- Metal roofing
- Clay tiles
- Wood shingles
Asphalt shingles tend to be a budget-friendly option, while metal roofing tends to be more expensive. Do some research about the different types of materials available to you and think about what you want your new roof to look like. Then, figure out which material best fits your budget.
The Size and Pitch of Your Roof
The simple fact of the matter is that the harder it is to replace your roof, the more expensive your project is likely to be. A very steep roof is more dangerous to work on, and your contractor will have to take more precautions before starting on the project, which leads to higher costs.
Similarly, the larger your roof is, the more materials and time it requires for a complete installation. So, if your home is large, then your roof installation project will be more expensive than it would be with the same materials on a smaller home.
The State of Your Old Roof
Before residential roofing contractors can start working on your roof, they’ll first need to remove the old materials. The state of your current roof may make it hard to remove the old materials. The harder it is to remove and dispose of the materials, the more labor the project will require.
As a result, your contractor will likely charge you more for the total cost of the project. It’s worth having a contractor come out to inspect your old roof so they have an idea of how much it might cost to remove.
The Contractor You Hire
You’ll likely have a few different residential roofing contractors to choose from for your project. Each will have its own pricing breakdown, so try to get a few different estimates to get a better idea of the average cost of a roof replacement in your area.
From there, you can compare the companies and choose the one that seems like the best fit for your needs.
Average Roof Installation Cost
Now that you’ve read through this quick guide, you should have a better idea of the different factors that have the biggest impact on the average roof installation cost. Keep these factors in mind as you prepare for your project.
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