Whether you are dabbling into residential roof replacement as part of a renovation project, or if the decision came about due to your roof finally giving way, you will need to keep a few things in mind during the roof replacement project to ensure that you are handling its budget in an optimal fashion.

roof replacement

While the project might be happening due to a roofing emergency, it would still need detailed planning from your end to make sure that you are not throwing money down the drain and that your investment is adding to the value of your home, not adding future tasks for you to take care of.

From devising your initial budget to selecting your roofing contractors, and from deciding between materials to managing your deadlines, here is all you need to know in order to pull off your residential roof replacement without burning holes in your pockets.

 

Devising Your Residential Roof Replacement Budget

When it comes to setting aside a budget for your residential roof replacement, you will have to make sure that you are going through each and every related aspect to strike that perfect balance between cost and quality.

To determine whether you are on the right path with your roof replacement budget, make a list of the essential expenditures and stick to it.

Your roofing project budget will comprise of the following components.

 

Make sure that you do a market survey by contacting various roof contractors and obtaining quotes and estimates for their fee, as well as the material that your residential roof replacement would require. Furthermore, if your roof is damaged to the point where your family cannot live in the house while the roofing contractors are working on the project, then you will need to check for temporary accommodations for your loved ones as well.

Once you have taken the estimates from reliable roof contractors, and if required, from hotels or rental places, make sure to designate individual amounts to each of these components. Whatever happens afterwards, ensure that you do not go over 10% of your budget on at least two of these aspects.

For instance, if you have set aside $2,000 for the fee of the roofing contractors, make sure that it doesn’t go past that limit. If you do have to increase the fee due to unforeseen situations, then set your foot down at a 10% increase by drawing the line at $2,200.

Similarly, do not spend too much on luxurious accommodations that are temporary. Since you would only be living in the rental place for a couple of weeks, spending any money on getting new curtains or buying new carpet would not be a good idea. It would be better to control your expenses on that front.

 

You May Need to Be Lenient on Other Expenses

If your budget for the roofing material allows you to spend a certain amount in which you can only get roofing shingles, then the first line of advice would be to not jump too high by going for expensive material, such as concrete or metal roofing (even if metal roofing is a better choice by every means). Instead, stick to your budgetary constraints and only select roofing material which you can afford.

With that being said, if you have your insurance covering part of your expenses, then chipping in with your own money to get an upgrade to metal roofing would be a good idea. This is the aspect of roofing budget where you can make that overhead of 10% work, along with throwing in some additional funds if you can afford to do so. This way, you can have a roof that would sustain you for additional decades and save you or your family plenty of funds in the long run.

By making these few decisions on these key components, you can ensure to manage a roof replacement project without breaking the bank.