Roof Replacement Budgeting

How Much Should I Budget for My Roof Replacement?

The roof system represents one of the most significant costs associated with a building after its construction. The replacement of the roof system can be one of the largest expenditures that a building owner or manager makes during the life cycle of the building.

There are multiple factors that impact the costs associated with roof maintenance and roof replacement budgeting. These include:

  • Changes in building code which may require increased insulation values
  • System design enhancements required to meet wind uplift ratings
  • Increases in raw materials and labor costs impacting the costs associated with roof repairs and maintenance

You could be shocked by the price of a roof replacement if you are not prepared in advance for the costs associated with a roof installation.

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Assuming a 39 year depreciation cycle for a building after construction, the roof assembly can be replaced several times during that life span. This can represent a significant cost to the building owner.

What Role Should Maintenance Play In Managing My Roof Budgets?

Maintaining the roof systems on your building is a key component of delaying a capital expenditure for replacing your roof system.

Similar to an automobile requiring an oil change, a roof assembly requires regular inspection and maintenance. Foregoing an oil change in an automobile will only lead to a catastrophic loss of the vehicle requiring a significant investment in rebuilding or replacing it. In similar fashion, a roof system requires regular inspection and review to insure that all components of the roof system are in proper working order. Without it, the risk of major loss increases.

  • Building owners should engage a professional roofing contractor to provide regularly scheduled maintenance visits for the roof system.
  • The contractor should clean the roof surface and all drainage points while reviewing key components of the roof system.
  • The inspections should review the roof assembly components for early signs of problems before they become major issues.
  • By identifying these issues early on, the building owner will be able to save money in the long-term by identifying these issues and repairing them at a reduced cost compared to a major repair or full roof replacement.

How Do I Establish a Roof Replacement Budget?

There are many factors that must be considered when developing a budget for the replacement of a roof system.

These factors must all be considered in order to establish a budget that allows the building owner to install the right roof system for the building and roof area.

In order to develop a budget there are several key steps that should be followed:

  • Work with a professional roofing contractor or a design professional – It is best to work collaboratively with a professional roofing contractor or design professional to ensure that all aspects of the roofing project are being considered. In addition, by working with these roofing professionals a building owner can be more assured that they are considering key factors including current building code and material pricing.
  • Plan in advance – If roofing projects are not planned for and are completed under urgent circumstances, the project scopes may be cut in order to reduce the price. Unfortunately this leads to scopes being reduced in areas where it may not be the best roof installation for the building. By planning in advance, possibly even several years in advance, the building owner can budget for the correct scope of work that will provide the greatest service life for the new roof assembly.
  • Consider the current and future uses of the building – Many times roof systems are installed based on the current use of the building only to have the use of the building change shortly afterwards. The change in the use of the building impacts the performance of the roof system. By considering the potential of changing the use of the building as part of the budgeting process, the building owner can avoid costly changes to the building envelope if the use of the building changes.

What is the Current Cost of a Roof Replacement?

Pricing associated with roof replacements is based on the unique conditions surrounding each and every roofing project. There are multiple factors that must be considered before a final price or budget range can be provided. The following are site conditions that have a direct effect on the pricing for roofing projects.

  • Complexity of Roof System – The more complex the roof system is, the higher the costs associated with the project. Complexity increases when the roof is highly penetrated or there are unique details associated with the installation of the roof system.
  • Increased Insulation Requirements – The more insulation that is required, the higher the costs associated with the roof installation. Building use and building location affect the demand for insulation and R-value. Increases in insulation thickness also lead to increased fastener length which may impact the roof project cost.
  • Increased Fastening and Securement – Buildings located in areas of the country with high wind exposures require increased securement. Increased securement of the roof system leads to higher material and labor costs associated with the project.
  • Roof System Type – Depending on the building use and the roof system requirements, certain roof system types may be required. Different roof system types have different price points that will affect overall roof system pricing.
  • Removal vs. Retrofit – In some situations, the roof system being installed may be able to be installed over the existing roof system. As a result, the costs associated with a complete removal of the existing system may be avoided.

With all of these factors to consider when budgeting for your roof replacement, it is important to work closely with a professional roofing contractor to help establish a qualified budget for roof replacement.

Request a roof replacement budget!