How to Budget for a Roof

How to Budget for a Roof

How to Budget for a Roof

Posted on: September 10, 2021
Your roof is one of the most expensive (and important) parts of your home. It protects you, your family, and all your belongings from the Earth’s harsh elements. So, it’s no wonder that roof damage is considered an urgent situation that requires immediate repair. A new roof can cost anywhere from $5,000 to $15,000 on average. The two biggest factors are the cost of your new roof is your home’s square footage and the roofing material you choose. If you have a very large home and choose an expensive roofing material, you could spend over $20,000 for a new roof. Budgeting for your new roof can seem difficult since it’s such a large amount of money, but we have a few tips to make saving more manageable:

  • Know your roof’s estimated lifespan (and how to extend it)

Whether you build a new home or buy an existing property, you should ask when the current roof was installed. A roof will last an average of 25 years depending on the material used and the quality of installation, so knowing your current roof’s installation date will let you know how long you have until you’ll need to come up with the cash for a new one. Extend your current roof’s lifespan by properly maintaining it with annual inspections, limb and debris removal, and shingle repairs as needed. These simple measures can add years to the life of your roof, giving you even more time to save up for a replacement. Take this a step further and use our professional roofing maintenance and repair services for the best results and longest roof lifespan!

  • Start a home improvement savings plan

Now that you know how long you have to come up with the cash for your new roof, make a home improvement savings plan. Figure out how many months you have left, then divide the estimated cost of your new roof by that number of months. That’s how much you need to save each month to cover the cost of a new roof! Banking has come a long way in recent years, and some institutions allow you to partition money off in your account for specific goals, such as home improvements and repairs. Use this to your advantage!

  • Review your insurance policy

Know if you have roof replacement coverage and what requirements must be met for the coverage to kick in. Your insurance might only provide coverage for certain roofing materials or a limited amount for installation services, so you’ll end up owing the remainder of the bill if you choose anything more expensive. You also need to ask about the deductible for a roof replacement claim.

  • Research roofing options ahead of time

You can make better plans if you know which roofing material you want to go with, so go ahead and research roofing options ahead of time to come up with a better estimate. Options for roofing materials include asphalt shingles, concrete, tile, metal, and more. Each option is priced differently and some materials may not be suitable for your home or location. Whether you need a complete roof replacement or just a repair to your existing roof, Shon Boswell Contracting Services is ready with the tools, knowledge, and experience to get the job done right. We have almost 20 years of experience installing all types of roofs in and around St. Petersburg. Check out our Googleand Yelp reviews for testimonials and photos of our work, then call us at (727) 440-5556 to schedule your free estimate today!

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