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A bad roof can cause water damage, high utility bills, and structural damage to your home. While the bill can run high, it’s essential to understand and account for the roof replacement cost to protect your home and potentially increase its value.
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According to the home services website Angi, the average cost of a new roof is $9,512. However, depending on the materials, the size of the roof, and your location, homeowners can pay from $5,867 to $47,000.
Learn more: Are home improvements tax deductible?
Asphalt shingles are the most commonplace roofing material in America and tend to be the least expensive. However, metal roofing can last longer than asphalt. Although more expensive, slate roofing can add an element of luxury for homeowners.
Choosing the best roof material will depend on your budget and needs, like durability.
Your roof’s square footage will determine how much you pay to replace it. A larger roof means more materials and labor hours. According to the home services website HomeGuide, the installation and material costs for a new roof can range from $3 to $6 per square foot. That means you could save big if you need a partial roof replacement instead of a complete one.
Many homeowners will need to hire labor to install a new roof. Labor costs vary by location, but cities with higher living costs will typically have higher labor rates.
A region’s climate also significantly affects total roof replacement costs since it determines the type of materials you use. If you live in an area with severe weather, like heavy snow, storms, or extreme temperatures, you may need to spend more on weather-resistant materials.
According to Angi, Here are some states with the highest roof replacement costs:
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South Dakota: $19,840
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Oregon: $10,180
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California: $10,097
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Washington: $9,803
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Florida: $9,538
Aside from materials and roof size, consider these factors as you estimate roof replacement costs.
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Labor: The hourly rate for roofing labor is $75 per hour, according to the roofing marketing company Roofer’s Guild. But remember — certain roofing materials require more labor or hours to install.
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Tear-off: A roofer may charge $1 to $5 per square foot to remove the old roof and dispose of the materials. Heavier materials or a roof with multiple layers can cost more to remove.
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Roof pitch: A roof’s slope, or pitch, impacts how much labor and materials you need to complete the project. Steeper roofs will generally cost more.
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Permits and inspections: You will likely need a permit to replace your roof, especially if you do it as a DIY project. Check your local building codes to understand permit requirements and fees.
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Warranty: Ask the roofing company if their estimate includes a warranty. If so, understand what the warranty covers, how much it costs, and how long it lasts.
Read more: When should you replace your water heater, and how much does it cost?
Paying for a full roof replacement project can be overwhelming, especially if you don’t have the cash to pay out of pocket. But, depending on your credit and income, you may be able to finance the project.
A home equity loan or home equity line of credit (HELOC) typically comes with lower interest rates than other types of financing. Improvements to your roof can raise your home’s value, which can replace the borrowed equity over time.
If you don’t have enough equity in your home, you may be able to take out a personal loan to cover the cost of a roof replacement. Lenders offer fixed-rate loans for home improvements that you can pay back over several years.
You can also check for financing options directly with the roofing company.
“Many contractors have financing options that offer simplicity, speed, and competitive loan rates,” said Mary Mokris, senior marketing manager at GAF Roofing, via email. “A home equity loan or line of credit are great options for a planned roofing project, but may not be the best choice for more urgent repairs, like a leak or damage from a storm.”
Credit cards have variable interest rates that are usually higher than home equity or personal loans, so only use a card if you can afford the monthly payments.
Learn more: Home equity loan vs. personal loan — Which is best for home improvements?
The average roof replacement cost is $9,512, according to home services website Angi. The most significant cost factors are usually roof materials, size, and labor. Complexities, like a roof’s slope, the amount of damage, and the house’s height, can raise your costs.
Using budget-friendly materials like asphalt shingles can lower your roof replacement costs. However, several expenses will factor into your total cost. Compare estimates from multiple roofing companies and look to hire professionals in late fall or early winter when demand for new roofs tends to be lower.
Your city will likely require a permit for structural changes to the roof or home. It’s best to check your local building codes to understand the requirements and associated costs.
This article was edited by Laura Grace Tarpley.