Are you a homeowner facing the dilemma of a leaky or deteriorating roof? If you stand at the crossroads of whether to pursue a roof repair vs replacement, you are not alone. Minnesota weather can be harsh and unforgiving. At Midwest Roofing, Siding & Windows, we assist homeowners in determining whether installing a new roof makes more sense than fixing an existing one.
What Are The Signs That I Need A New Roof?
As a homeowner, how can you tell whether you require a roof replacement? Consider the following factors that might impact this decision:
Aesthetic Quality
Curb appeal matters to many homeowners who want a roof to maintain a uniform, consistent appearance.
Extent Of Damage
When damage covers over 30% of the roof, repairs are no longer reasonably practical or cost-effective.
Recurrence Of Issues
Repeatedly fixing similar roofing problems indicates a systemic failure rather than isolated damage.
Structural Considerations
If damage has extended beyond the surface, the roof deck and supporting structures may be compromised.
How Long Should A New Roof Last?
Expect a roof to last as long as the material and the manufacturer chosen. For example, if you select a high-quality architectural asphalt shingle from a reputable roofing supplier such as Owens Corning, the roof should offer a life expectancy of 30 to 50 years. Owen Corning’s Duration® series provides extended durability and longevity.
Likewise, GAF is a leading manufacturer of exceptional asphalt shingles. It offers homeowners several premium products with extended lifespans, many designed to last 30-50 years or more. These include GAF’s Timberline UHDZ™, HDZ®, Grand Sequoia®, and Armorshield II brands, which are available when working with a GAF Master Elite Contractor.
Similarly, a homeowner should only involve an established, reputable roofing company when replacing a roof. Why? Many contractors intentionally or unwittingly cut corners in the interest of saving a few dollars. Others don’t pay attention to the tiniest craftsmanship details that make a difference between “good enough” and “exceptional.”
How Do I Estimate The Cost Of A New Roof?
The price for a new roof significantly depends on the materials chosen and the contractor hired (i.e., the prevailing price for labor). Also, the cost of materials and labor have seasonal variations. For example, annual and sometimes monthly manufacturing price increases, or increased permit costs based on the size of the project and municipality. Additionally, the relative complexity of a roof can impact the overall cost.
What Is The ROI For Replacing A Roof?
Roofing industry experts estimate that replacing a roof will provide the homeowner with a 60-70% return on investment (ROI) compared to minimal or no ROI for a roof repair. This calculation is based on numerous assumptions. For example, if the roof is almost new (e.g., less than 5 years old), a relatively “minor” repair of no more than $1,000-$3,000 might make more financial sense than a total replacement. Be sure to check with the previous installer if your roof is under a workmanship warranty.
What does it mean for a homeowner to generate positive ROI for replacing a roof? If a roof replacement costs $10,000, a homeowner could expect the home’s market value to increase by $6,000-$7,000. Naturally, this ROI could rise above 60-70% in a setting where home values are rapidly appreciating (i.e., a seller’s market). If you’re looking to sell your home in 1-5 years, a new roof could be the logical choice.
What Other Financial Benefits Exist For A New Roof?
Three additional advantages are available for savvy homeowners considering a roof replacement:
(1) Heating & Cooling Cost Savings
Many homeowners struggle with rising energy bills. Modern roofing materials offer better insulation (higher R-values) and improved reflectivity (less heat absorption), which help lower heating and cooling costs. Experts say upgrading your roof could cut energy expenses by 10-15% each year. So, if your annual energy bill is $3,000, you could save $300-$450 per year.
(2) Insurance Premium Reductions
Insurance premiums continue to escalate. Ease the burden by installing a new roof. Many insurance providers offer homeowners a 5-20% premium discount when installing a new roof with the latest impact-resistant and energy-efficient technologies. If your annual insurance payment amounts to $1,500, you could expect savings of $75-$300 per year. These savings really accumulate over time.
(3) Less Future Roof Repair Costs
The avoidance of certain repairs keeps money in your pocket. In effect, you achieve a net savings. An aging roof could be a ticking time bomb for costly repairs. A homeowner might achieve savings of $1,500-$3,000 in avoided roof repairs over 5 years toward the end of a roof’s shelf life. Instead of spending precious resources fixing an old roof, direct these funds to purchasing a new one.
Hiring A Qualified Roofing Professional
At Midwest Roofing, Siding & Windows, as an Owens Corning Platinum Preferred Contractor and a GAF Master Elite Contractor, we help homeowners in the Twin Cities (and surrounding areas) fix existing residential roofing systems or install new ones when repair is not a practical option. Since 1972, our experts have understood the telltale signs of a roof requiring repair or replacement. We’ll assist you with reaching the right outcome.
Contact Midwest Roofing, Siding & Windows today to discover more about our residential roofing services or to schedule your appointment.
