Amidst the Increase in Inflation: The Cost of Roofs Surge in 2022

The average American homeowner spends around $8,000 on their roof, and this does not take into account any unforeseen complications that may arise during the project. That’s a lot of money, especially when you consider that a new roof can last anywhere from 20 to 30 years.

So, what’s behind the high price of roofs?

There are actually a quite few reasons that will be discussed in this article. Keep reading to discover why roofs cost so much in 2022 and how you can handle the process.

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Why Do Roofs Cost So Much? – 7 Factors That Contribute To High Roofing Costs

It’s no secret that roofs are expensive. But what makes them so pricey? There are a few factors.

 Roof Health

It is important to have a qualified roofing contractor inspect your roof regularly to make sure there are no problems.

If there are any problems, they can be fixed before they cause any serious damage.

And yes, you have guessed it right. The things listed below will add to the cost of your roofing project:

Roof Deck

Which is the element that provides added support and structure for the roof itself. Replacing a roof deck will depend on the intensity of the damage that has been caused.

Roof Ventilation System

An efficient ventilation system prevents the roof from overheating and being susceptible to damage. This, too, is an added cost that will be considered after a thorough inspection of the roof vents.

Flashing

Flashing is made out of metal, and it is used between shingles and roof-to-wall transitions to prevent rainwater and other debris from getting under the roofing materials and causing damage.

Materials

When it comes time to replace your roof, the cost is often determined by the materials you choose. While some homeowners opt for cheaper materials to save money, others find that more expensive materials will last longer and require less maintenance in the long run. One factor that can affect the overall cost of a new roof is the weight of the material.

Roofing tiles, for example, can be very heavy and require additional structural support. If your home isn’t built to withstand the added weight, you may need to spend extra money on reinforcing your roof’s frame or trusses.

Another consideration is longevity. Some materials, like asphalt shingles, may only last 15-20 years before needing to be replaced. Other materials, like metal or slate tiles, can last for more than 50 years. As you can see, materials are often one of the most costly aspects of a roofing project.

The type of material used will affect both the upfront cost and the long-term durability of the roof.

Some materials, such as slate and metal, are more expensive but also longer lasting. In contrast, asphalt shingles are less expensive but require more frequent replacement.

Choosing the right material is critical to getting the most value for your money.

Feel free to get in touch with one of our experts to learn more about the pros and cons of different materials and how they can impact your roofing costs.

Labor

When you are getting your roof replaced, one of the factors that will determine the final cost is the amount of labor required. Unfortunately, labor can be a significant expense for a roofing project. The cost of labor can vary depending on the region you live in and the type of roofing material you choose. However, in most cases, labor accounts for about a third of the overall cost of a roofing project.

There are several reasons why labor costs can be high. First, it takes time to install a new roof, and workers must be careful to do a good job so that the roof lasts for many years. Second, there is a lot of specialized knowledge and equipment required to install a roof properly.

And finally, good workers are in high demand and can command a higher wage.

 Disposal

When it comes time to replace your roof, you might be tempted to simply dispose of the old one. However, the cost of roofing disposal can add significantly to the overall cost of your new roof. In some cases, it may make more sense to recycle or reuse your old roofing materials. If you decide to go with a recycling company, be sure to ask about their policies and procedures.

Some companies will only accept certain types of roofing materials, while others may charge a fee for pick-up or delivery. If you choose to reuse your old roofing materials, be sure to factor in the additional labor costs involved. Whatever route you choose, be sure to factor in the cost of roofing disposal when budgeting for your new roof.

Insurance

As we already know, insurance rates are increasing each year. Many homeowners prefer a less expensive insurance plan so annual payments are lower. However, this route can come back to bite if certain damages to your roof is not covered under insurance. Understanding what is covered in your insurance coverage can be a tricky battle. Unfortunately, if your homeowners or commercial property insurance does not cover whatever ailment is affecting your roof – your insurance provider may force you to pay for a whole new roof when basic maintenance would suffice.

RoofTec Precision Exteriors offers full support during this process with our insurance claim specialists. 

Transportation of Roofing Materials

Transportation and freight costs rising due to the oversaturated ports, driver shortages, and fuel prices. It is estimated that 72% of America’s freight moves by truck and the country is experiencing a shortage of more than 80,000 drivers. This leads trucking companies to raise driver compensation by up to 33% to stay competitive in the driver shortage environment.

 Overall Economy

It’s no secret that the overall economy can have a significant impact on the roofing industry. When the economy is strong, homeowners are more likely to invest in repairs and replacements. And when the economy is weak, homeowners are more likely to put off those projects.

The COVID-19 Pandemic led to worldwide shutdowns, that slowed down manufacturing and imports. (70% of building materials in the US are imported from China, Canada, and Mexico). This led the manufacturing industry to suffer from a major setback, losing roughly 1.4 million jobs and since then the industry has struggled to fill vacant jobs. Also, inflation is directly affected by supply chain disruption and surging demand for construction goods. (US inflation rate has exceeded a 40-year high).

We know what you’re thinking…

Will My New Roof Be Expensive?

Many homeowners are curious about the cost of a new roof. The answer to this question, unfortunately, is that it depends. Many factors go into the price of a new roof, such as the size of your home, the type of roofing material you choose, and the contractor you hire.

That said, there are some general things to keep in mind when it comes to the cost of a new roof.

First and foremost, it’s important to remember that a new roof is an investment. It’s not a purchase you want to make lightly – your roof protects your home and your family from the elements, so it’s important to choose a quality roofing material that will last.

That said, don’t be afraid to shop around for quotes from different contractors.

Is the Pricing Increase Only Impacting Asphalt Shingle Roofs?

There has been a recent increase in the price of asphalt shingles. This has caused some homeowners to wonder if the pricing increase is only impacting asphalt shingle roofs. The answer to this question is no. The pricing increase for asphalt shingles is impacting all roofing materials, including metal roofs and slate roofs.

While there has been a significant increase in the price of asphalt shingles, the price of metal and slate roofs has also increased by a considerable amount.

So why has the price of asphalt shingles increased so much?

There are a few reasons for this. Firstly, the cost of raw materials used to make asphalt shingles has gone up. Another thing is that there has been an increase in demand for asphalt shingles as more and more people are choosing to install them in their homes. No matter what, roofing prices are increasing overall and will affect the cost of every roofing material in some way.

New Roofs are expensive.

But, a sturdy and dependable roofing system is key for structure safety and future damage prevention.

Remember that roofing companies can do nothing about these price increases. As we mentioned earlier, many factors – outside of our control- can contribute to the high cost of roofs.

It’s important to factor in all of these costs when deciding whether or not to replace your roof. That said, there are still plenty of homeowners who need to replace their roofs regardless of the economy. A bad roof can lead to even bigger economic problems for a home. Leaks can damage ceilings, walls, and furniture. They can also lead to mold and other health problems.

All of that is to say that it’s important for homeowners to keep their roofs in good shape, regardless of the state of the economy.

If you need a new roof, don’t wait until the last minute! Contact RoofTec Precision Exteriors for a hassle-free inspection and free quote!

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