Your roof protects your home – most likely your single biggest asset – from damage, yet a lot of homeowners are hesitant about investing money into a well-built roof because they don’t see the value. Roofs not only keep your home dry, they also keep moisture, wind, and other natural elements from damaging your home. So when it comes to maintaining your investment, the smartest money you spend could be on a new roof. How much you’ll spend will vary, depending on several factors which we’ll go over in this blog post.
Roofs usually last anywhere between 12 and 50 years and can be expensive to replace. But planning, estimating, and researching can help you determine the cost and save some cash. Preparation is necessary before the new roof can be added. Removal of shingles and inspection of existing plywood and flashing will factor into the cost.
Repair Or Replace Your Roof?
It can be tough to know whether your roof can stick it out for a few more years or if it needs to be replaced immediately. Most homeowners hope to make do with a few repairs, but depending on your roof’s condition, a roofing contractor might tell you it will be more cost effective to replace the entire roof rather than try to patch it up. If your roofing contractor is telling you that you need to replace your roof it’s a good idea to listen.
If your roof is more than 20 years old and is leaking in multiple places, or has been repaired many times in recent years, it’s probably time to tear it off and start new.
Aside from adding value to your home, today’s roofing materials will also make your home more energy efficient, helping you control indoor air temperatures and save money on your heating and cooling bills. If you’re still not sure whether to repair or replace your roof, ask your roofer for estimates on both projects.
It can also be difficult to match new material with the old, and those efforts can significantly add to the cost. You might also consider simply adding a second layer of shingles to your roof, which is less expensive than a full replacement but can be more problematic.
Sometimes, replacing the roofing is necessary if you’re changing shingle types. For instance, if you’re switching from wooden shingles to asphalt, you’ll need to remove the existing roof.
And lastly if you’re on the fence about roof replacement consider this: banks avoid a failing roof like the plague, so replacement may be what it takes to pass inspection and can actually increase your resale value.
Style And Health of Your Roof
The potential price of your roofing project will also be based on factors like the style of your roof and its current condition. Your roofer will need to know whether your roof is flat or sloped, hipped or gabled, the number of levels it has, and if there are dormers or valleys. The roof’s accessories and underlying structure may also be a factor, especially if you see any signs of moisture damage in your attic. Mold remediation and/or replacing rotten framework will definitely change the scope of your project.
Type Of Roofing Material
As you probably guessed, your roofing estimate will also be based on the type of material used in the repair or replacement. Labour can be calculated accurately be determining the size of the job but the variable is determined by the type of roof you want. The most common and generally the least expensive material is asphalt shingles, which come in all kinds of compositions and colours. Next are cedar shingles and shakes, which are often chosen for their beautiful Vancouver aesthetic, but come with more maintenance needs and a higher price tag. Asphalt shingles are the most affordable option. If they’re installed properly and maintained well, they can last 30 years.
A metal roof will also be more expensive to install, but the benefits easily outweigh the cost in the long run. Not only will a metal roof last upwards of 50 years, it’s also the most energy efficient, moisture resistant, low-maintenance, lightweight and fire-proof choice out there. Slate, clay and concrete tiles are also among your options for roofing material. While they are durable and beautiful, tile roofs are particularly heavy (which requires additional structural support) and even more expensive.
Size Of Your House
The other big factor, not surprisingly is the size of your roof. Obviously, the bigger the house, the bigger the roof, the larger the cost of both materials and labour. Most roofers charge by the square foot, with a number that encompasses both materials and labor. Most roofers can give you a ballpark estimate of the project cost based on your home’s square footage. That makes comparison shopping for roofers fairly easy.
We’re the first to admit, roofing materials aren’t cheap, especially if you have a large or complex roof, but professional installation is what boosts the expense. Labouoften accounts for 40% to 50% of the cost, largely because a lack of skilled roofers has driven up rates. The more complicated a roof, the more labor it takes and the higher the costs.
Height and Pitch of Your Roof
Another determining factor is that the higher your roof and the steeper the pitch, the more expensive your roof installation will be. With a steeper and taller roof, the installation is both more difficult and more dangerous, and it may take longer and cost more. Some roofers will quote you a general price based on the size of your home but will not guarantee that price until they see the height and pitch of your roof and whether you have any hard-to-reach spots.
The pitch of the roof will also affect the cost; the higher the pitch of the roof, the higher the cost. Contractors must add harnesses or other special equipment to the quote. Gable roofs are the easiest, since they have the smallest slant. You’ll need to determine the type of roofing that will be used.
In total, a new roof could cost between $8,000 and $20,000. You can calculate the size of your roof by taking the square foot of your roof and adding half making it easy to compare quotes.
Any reputable roofing professional will offer you a free roofing estimate (as long as no diagnosis is necessary) and you’re likely to get a wide range of bids. Make sure the estimates you receive include everything from the materials and labor to taxes and permits. It’s also wise to ask about the time your project will take.
If you have any questions or need an estimate on your roof call the experts. At Rain City Roofing, we have been in business for over half a century – so we feel confident in saying we are your best roofing choice.
Insurance rates continue to rise every year, and property owners can feel powerless, but there are some things you can do to save money. Since changes in the structure of your property will affect your insurance rates, you can work something out to lower your strata insurance premiums. Some home improvement projects aren’t exclusively meant to increase the value of your property; they also increase protection and security. You know by now that security and protection are determining factors in deciding how much you’re paying for your insurance premiums.
Investing in a New Roof
The roof arguably has the most significant impact on your strata insurance rate. No other home feature compares to the structural value of the roofing system; so, when a massive storm wreaks havoc to your property, the first in line for repairs is the roof.
Insurance companies know all too well how a new roof dictates the insurance coverage they offer to their clients. If you reside in an area where hailstorms, tornadoes, and wildfires are commonplace, then having an old roof usually corresponds to limited coverage. Investing in a new roof reinforced with special protection increases your chances of extending the coverage.
Roof replacement doesn’t come cheap, and a DIY approach may cost you more. Since it is an investment to improve your property and lower your strata insurance, you’re better off hiring a professional roofer. Reputable roofing companies provide work guarantee and product warranty – two things you don’t get when you’re planning to replace the roof on your own.
Roof-Related Property Damage
A strata owner is responsible for the protection of the common property from possible damage, and there’s more to this than just comfort and security in your dwelling. Being knowledgeable about the common residential strata insurance claims is part of that responsibility. Incidentally, many of the possible risks to the property are related to the roofing structure:
1 – Water Damage
Almost 40% of residential strata claims each year involves water damage, i.e., a leaky roof and clogged gutters. The problem with most water-caused damage is that they’re difficult to spot. So, insurance companies are wary when the property has an old roof with apparent signs of deterioration and damage.
There’s good reason to work with a roofing company to fix your roof if you want to lower your strata insurance. Insurance companies can’t help but worry once they see a roof in terrible condition. Fixing your roof with the help of an expert roofer costs you money, but you end up benefiting from it in the long run.
2 – Weather-Related Damage
The roof protects everything and everyone underneath it. In so doing, it bears the brunt of nature. If you reside in an area with extreme weather conditions, your roof most definitely has a shortened lifespan. Did you know that almost 30% of strata insurance claims every year are related to weather-caused damage to the roof? The list includes hailstorms, heavy snow, strong winds, and torrential rains. Although you expect to pay a premium just because of the weather conditions in your location, you could be adding more to that if your roof is in bad shape.
A roofing company helps by improving the condition of your roof (or replace it) to give no reason for the insurance company to ask for a premium. For some people, it doesn’t make sense since they’d be spending money on a new roof; but then again, consider it as a long-term investment instead.
Other Ways to Reduce Your Premium
- Refrain from making small claims – Don’t forget that the more claims you make, the higher the premium becomes. Some property owners make claims every year, not realizing that doing so increases their premiums and excess. If possible, veer away from claiming strata insurance for minor repair and maintenance needs. The best alternative is to incorporate those costs in your yearly budget.
- Come up with a concrete maintenance plan – Insurance companies are well aware that the majority of strata insurance claims are a consequence of the owner’s lack of desire to maintain his/her property. To reduce your premium, show proof of a believable maintenance plan.
- Minimize the risks – If you put the effort in minimizing the chances of property damage, you reduce the possibility of an emergency repair. It means you avoid making a claim. If you’re unsure how to mitigate the risks, you can tap the services of a property risk surveyor who furnishes a risk management plan at a reasonable cost.
4. Update Your Policy
Many property owners fail to acknowledge the importance of updating their strata insurance policy. If you don’t take time to read your policy, you will regret it later. Be reminded that insurance companies update the rate during the renewal each year. So, if you fail to mention any home improvement project, you will have to face a stiffer premium.
A horde of factors contribute to strata insurance premiums and excess, but there are also are ways to lower them. Regardless of what happens in the insurance industry, your job is to keep your building or property in the best condition possible to increase the chance of getting a lower premium.