The cost to replace a roof on a house can vary widely, and budgeting for a new roof can seem daunting. Fortunately, we have all the information you need to set a budget, understand financing options, vet roofing contractors in your area, and make an informed choice when the time comes to replace the roof on your home.
4 key factors that influence the cost to replace a roof
- Overlay vs. Tear-Off. One of the biggest factors influencing the cost of a roofing job is whether to do an overlay (re-shingle over your existing roof) or tear-off the existing roof and replace it. Given the right circumstances, either an overlay or a reroof can be sensible, but your contractor should be able to provide a clear rationale for their recommendation.
We go into more detail about the benefits vs. risks of overlays here.
- Labor. Labor drives upward of 60 percent of the cost of a typical roofing project. You should be wary of anyone who skimps on this, because it can factor into work quality, warranties, and experience—not to mention, how people are being treated. Our contractors have certifications through manufacturers like Owens Corning and GAF. That means they’ve shown competence above and beyond roofing industry standards. It also allows us to offer the highest warranty protection available on materials and labor.
Related: Certification isn’t just a rubber stamp. Here’s why
- Size and complexity. The size of your roof will influence the cost of both materials and labor, and so will the complexity. The more dormer windows, chimneys, gutters (which need to be removed for a new roof installation), and other features, the more labor and flashing are required, and the greater the cost to replace your roof.
- Materials. Most roofs in our market have asphalt shingles, which can vary in cost based on aesthetic selection and structure. Other options such as metal roofing or slate are certainly available at a premium. Upgrades like copper flashing, can lend your home a very elegant appearance at a more affordable price.
5Related: What to Look for in a Roofing or Siding Estimate
The average roof replacement cost, by the numbers
- At the time of this post, the cost to replace a roof in our region is dependent on the method..
- Overlays range from $6,000 to $8,500.
- A new roof (via a tear-off) will typically range from $13,000 to $25,000.
- On a square foot basis, in the greater Staten Island and central New Jersey area expect to pay around $3.25 to $5.25 p/sf for overlays and $5.50 to $7.50 p/sf for tear-offs
- Finally, according to Forbes, “a roof replacement will return somewhere around 60% of its value in a real estate transaction.” In other words, you get about sixty cents on the dollar back when you sell. For example, spending $20,000 on new roofing will add on average about $12,000 to the price you’ll get at the time you sell.
Savings tips, financing, and warranties
- Get multiple quotes. We recommend that you get as many quotes as you need to feel comfortable. We acknowledge this is necessary for many homeowners and have made it one of our top goals to empower homeowners to successfully work with a contractor, regardless of who they choose. When it comes to any home renovation, you want to make the right choice and get a square deal. If someone has a problem with you doing this, it’s a red flag.
- The greatest cost isn’t a line item. As we’ve written before, procrastination is the greatest cost on many roofing replacements. That’s because the cost of labor and materials is trending sharply upward, has been for years, and will likely continue. According to HomeAdvisor, the cost of roofing jobs has increased by 5% to 10% in 2021 alone. There are a number of reasons for this, linked to the pandemic, extreme weather, material pricing, and simple demand. For instance, supply chain disruptions have increased manufacturing costs and lead times. The cost to hire experienced and manufacturer-certified installers has also increased.Procrastination carries other costs, too. A roof that’s even slightly damaged or leaky will also result in underlying structural damage and mold. These things, often unseen, compound over time, adding cost upon cost.
- Financing. Sometimes the sticking point isn’t how much you’re going to pay, it’s when you pay. There are a number of financing options today that many people aren’t aware of. For instance, we offer 12 months of interest-free financing through Wells Fargo, or 120 months with GreenSky at 9.99%. . And if you have a decent amount of equity built up, refinancing your home to pay for a home renovation can be comparatively pain-free.
Related: Paying for Home Renovations with a Refi Can Be a Great Deal
- Certification and warranty protection. Because replacing your roof is a significant investment, it’s all the more important to choose a certified, reliable contractor with the highest warranty protection available. We offer a 50-year material warranty and a lifetime labor warranty on our new roofing installations. Don’t accept anything less. You can read about how warranties and certification work here, and how to vet contractors here.
- Timing. If it can wait, scheduling your roof replacement for the off-season (winter and early spring) may allow you to secure an off-season discount.
Now you should have a decent sense of how much it will cost to replace your roof, how to keep it within a reasonable budget, and what to watch out for. We hope that this information helps you find the roofing solution best for you, and the stress-free experience you deserve.
Helping people feel more comfortable and content in their homes is what makes us tick. We’re here to answer your questions, at no cost and without obligation.
If you’re collecting bids on roofing or siding repairs, make sure you read this first: 9 Questions To Ask When Hiring A Siding and Roofing Contractor.