How to Budget for a Roof Replacement

Getting a roof replacement is a major investment for any homeowner. Not only will a roof upgrade protect the inside of your home from damage, but it’s also a great way to reduce insurance rates and increase tax credits. In some cases, it may even be necessary to bring an older home up to code.

Before making such a large purchase, it’s important to come up with a solid budget so you can know how much you need to start saving. Planning ahead of time will help the process run much more smoothly and help you avoid extra costs down the road.

Schedule a Roof Inspection and Get an Estimate

How to Budget for a Roof ReplacementThe first step should be to schedule a roof inspection. A professional roofing technician will come to your home, examine your old roof, and let you know if you need minor repairs or a full roof replacement.

Taking into account all of the factors involved in your repairs or replacement, the roofing company will then provide you with a quote of how much it will likely cost. A safe practice is to get estimates from a few roofing companies, to make sure that you’re getting a fair and accurate price.

Consider Factors That Influence Price

As with most construction projects, the cost of your new roof may be influenced by your location. Roof replacements in areas with more inclement weather will often cost more because the materials need to be able to stand up to the elements.

Home size, roof pitch, and even roof accessibility can also influence how much your replacement costs. A single-level home requires less harnessing and climbing ladders with heavy supplies. Homes surrounded by stone walls or large foundation plantings can also increase the cost because it’s harder for workers to gain access to the worksite.

The most important factor to consider may be the materials you choose for your new roof. Paying more for quality materials will often mean that your new roof lasts longer and may add more value to your home. That being said, there are plenty of good-quality material options that are more affordable.

Create Your Budget and Start Saving

Once you have a good idea of how much your new roof is going to cost, you can start creating your budget plan. It’s always a good idea to save about 10% more than you think the project will actually cost, to account for any surprise expenses.

Next, divide the expected cost by the number of months you plan on saving for the project, to give you an estimated amount that you’ll need to put away each month.

The Roof Doctors Roof Repairs and Replacements

With so many factors to consider, creating a budget for your new roof replacement can be a bit overwhelming. Having an experienced roofing company examine your roof and provide you with an accurate estimate can help you understand just how much you will need to save.
At The Roof Doctors, we’re proud to offer repairs and high-quality roof replacements that will stand up to harsh Maine weather. We stand by our work and have been serving the Portland area for over 20 years.

If you’re ready to repair or replace your roof, call or text us today at (207) 772-2719 to request a free quote!

Call Now Button