One of the most important parts of your home is the roof since it protects you and your family from the elements. According to residential roofing experts, it also provides your home with energy efficiency and comfort, and enhances your home’s design. As such, it’s important to ensure that your roof is always in great condition by following regular maintenance and repairing it as soon as possible if it gets damaged.
However, no matter how much you will take care of your roof, there will come a time when it will fail. This can be due to damage or exceeding its predetermined service life. As such, you’ll need to replace your roof so that your home can return to its functional condition. Having a deteriorated roof can be dangerous as it can collapse, and it no longer performs its intended functions. One should keep in mind that a roof replacement project isn’t a simple process so you’ll need to plan it thoroughly and consider a lot of things, such as preparing a budget for it.
Determine the Price
The first step in planning a roof replacement budget is to consider the roofing material you’re going to use. This decision will have a significant impact on the total cost of having your roof replaced. While it’s not mandatory to use a different roofing material when replacing your roof, you can opt to use the same material as your previous roof as long as it works. However, if you’re willing to branch out and try new materials, be sure to research the cost and how they can work for your home. Also, you have to consider if you plan on selling the home as this goes hand in hand with the lifeline of roofing materials.
If you’re looking for an affordable option for your roof installation or replacement project, asphalt shingles are a great investment. Other options like wood shingles, recycled rubber and tile are also great alternatives, but carry a steeper price tag. You can also opt to use metal or slate roofs. In terms of longevity, three-tab asphalt shingles can last for around 15 to 20 years while slate shingles can last anywhere from 50 to 100 years, depending on their maintenance.
When you’re looking for a roof replacement contractor, don’t just settle for the first one you’ve contacted. It’s a good rule of thumb to get quotes from at least three different roofing contractors to get a better idea of the roof replacement estimate. From there, you can narrow down your options depending on your budget, location and their services.
When requesting for a roof replacement quote, kindly ask the contractors for the estimate to be written in a detailed manner that includes all the important information, such as the materials to be used, estimated timeline, labor cost and total cost of the project. Don’t forget to ask if they have flexible financing options so you have a greater degree of payment options down the road.
You can calculate the cost of the materials provided by your contractor. Sometimes, you can even find materials at a better price than the ones they’ve listed. If you can get up on your roof, use a tape measure to get the dimensions of each roof plane. Multiply the length by the width, and this will give you the square footage for each plane. Add up all the square footage of each plane to get the total square footage of your roofing system for you to provide to your local home improvement store. Using the measurements gathered and the materials provided by your contractor, you can determine the true cost of your materials.
If you still have the estimates from your residential roofing contractors, be sure to add 10% to the estimate of the contractor that you choose. This ensures that you’ll have emergency funds in case of overages, wasted products or surprises that may arise during the course of the project. Afterwards, divide the new contract price by the number of months that you have to save up. For instance, if your new roof costs $20,000, and you want to replace it in the next five months, you’ll have to save $4,000 per month.
Keep Track of Expenses
Make sure that you have a detailed breakdown of all your expenses and income. Be sure to classify them accordingly so that you can easily track where your income is going. If your monthly income is less than the amount that you’ll have to save, then you’ll have to get other sources of income or reduce your expenses to reach your target savings per month to afford a new roof. Also, having a detailed breakdown gives you a greater idea of how much you’re spending and lets you strategize where to allocate your budget if you think you’re spending too much on one area for the upcoming months.
To add on the previous point, you’ll have to cut expenses if necessary. Try to reduce expenditures for leisure or other recreational activities for the time being. Instead of buying lunch out, try to get packed lunch from leftovers at home or a freshly cooked meal. You can also reduce your HVAC usage if it’s not necessary. Try to look for more areas where you can cut down your expenditures so you can save up for your roofing project.
Northeast Gutters and Remodeling is your trusted provider of roof installation, repair and replacement services. We build with confidence and seek excellence in every job we do. We’ve been trusted by thousands of homeowners and business owners alike for all their needs since 2004. We’re a GAF Factory Certified roofing contractor as well. Give us a call at (860) 899-7878. You can also fill out our contact form to schedule an appointment.