Any home improvement project can be a significant investment. To make sure you get the most of it, you need to carefully prepare a budget. The budget will help you know how much money to set aside and avoid unnecessary costs that could break the bank. If you are planning to replace your roof, however, there may be unexpected factors that can inflate your budget.
These factors can range from decking issues to building codes. No matter how well you researched your roof replacement budget, your contractor may still uncover additional costs that are beyond their control. This is especially true if you live in an older house.
In this blog post, we will explore different factors that may increase your roof replacement budget and how you can deal with them.
What Factors Can Increase Your Roof Replacement Costs?
After taking note of the material and labor prices, there may still be unseen issues that can affect the budget for your roof replacement. Here are a few of them:
You might think your roof replacement project only involves replacing the outer roof covering. You might even factor in a few accessories that need replacing such as gutters and flashing. However, your roofer may find hidden structural issues, forcing you to spend more money than expected. These issues may include pest infestation and mold, especially if you live in a humid area with a poorly maintained roof. Before installing your new shingles, your roofer has to address these issues first.
If there are signs of mold on your roof, it’s likely because of moisture. And if there’s moisture, there may be leaks. In some instances, leaks can go unnoticed until the shingles are removed during a roof repair or replacement. These leaks can cause extensive damage, including rotten plywood. To replace it, the cost of your roof replacement will quickly increase by hundreds of dollars because of the material and labor costs.
Water traps may occur on a poorly installed and designed roof. Although water traps are a common issue, homeowners are often unaware of them until a roof replacement takes place. Water traps are prone to leaks due to runoff areas that direct too much water to one place. Not only that, but this issue can also damage shingles and other materials, such as siding or brick. If your contractor uncovers water traps during the roof replacement, the cost to mitigate the water traps in your roof will increase the cost of your budget.
Upgrades or Alterations
Replacing your roof is a great way to increase the value of your home. If you’re planning this project, take note that you don’t have to choose the same type of roof as the existing one. You can upgrade the whole roof or add new features such as a more durable type of roof underlayment. Since these upgrades or alterations will cost money, be sure to include them in your estimate. If you incorporate these upgrades later on, the cost of your project will increase as a typical estimate is based on a standard roof replacement.
A roof repair or replacement estimate depends on multiple factors, including the time and season. Many roofing contractors give quotes that are valid for limited periods because some roofers get more work during some seasons than others. Since labor costs change over time, the estimate you receive today may not be valid six months after. For this reason, it’s best to replace your roof within a short time after getting the quote. Otherwise, you will get a new quote once you are ready for a roof replacement.
Your old roof may have been built to meet previous building codes that no longer apply to new construction. As such, you might spend extra money to bring your roof up to code during the roof replacement. While this is great news for your safety as well as your home’s sustainability and energy efficiency, this is an added expense. If you don’t comply with the building codes, you risk damage to your house and injuries to the occupants in your home. In the worst-case scenario, you can even be fined by the government.
How Can You Keep Your Roof Replacement Within Budget?
Fortunately, there are ways you can prepare your home to minimize additional costs during the roof installation. Here are a few tips to consider:
Communicate with your contractor as much as possible. Let your roofing contractor know about your budget constraints up front. This way, the tea, will help you determine the most efficient way to complete the project as well as help them purchase the required materials. This also avoids any last-minute issues that can increase the overall cost of your roof replacement.
Leave 15% to 20% wiggle room in your budget. Factoring in unexpected costs allows you to take any hidden issues without impacting the rest of your roof replacement. Should anything extra arise during the project, you don’t have to worry about additional costs.
Consider financing options. Some companies offer financing options that can help you out, especially when you need to replace your roof due to extensive storm damage. Instead of being at risk with a damaged roof, you can invest in a new roof now. Therefore, consult your contractor about their financing options that meet your budget.
Replace your roof in the off-season. Since roof repairs and replacements are most popular during spring and summer, the cost will typically be higher. If possible, schedule your roof replacement in the cooler months when roofers are in less demand. Not only that, but the cost of new shingles is also lower in the off-season.
At Paddy’s, our team of contractors is determined to assist you with your home needs, whether it is cleaning chimneys or repairing roofs. Give us a call at (302) 388-3625, or fill out our online contact form to request an estimate or schedule a consultation today. We look forward to assisting you.