4 Tips on How to Budget For a New Roof

Home ownership creates a good feeling, it’s truly yours and comes with a sense of more permanency. It also comes with a lot of responsibilities, such as roofing and other maintenance responsibilities.

A roof is an essential element that shields you from the elements. Whether you’re building a new house or plan to replace the old roof, you need to work with a budget that you’re comfortable with while also ensuring your roof is built to last.

Here’s how you can achieve your budget goals as you plan to give your home an appealing rooftop.


Begin with a Roof Plan

Usually, a roof that is 15-20 years old could be ready for a replacement. Start by creating a new roof outline with the help of professional roofing contractors who are local to you. If you’re in any of these areas, reach out to us for a free estimate.

Know how much the roofing services will cost, the timeline, and any permits that are required. Keep in mind that permits vary per location. So, check with your local authorities for clarity.

Get a Roof Inspection

The state of your roof gives you a clear guide towards creating a budget. Maybe, the roof is in such bad shape that it can’t last another 2 or 3 days, or it could be strong enough to go for five years or so. Find a roofing contractor and determine whether your roof needs minor repairs to get through the next few month or a total replacement.

Professional roofers have in-depth knowledge of all roofing services, and they’re in a better position to give you a proper guidance on how long your roof will last. Avoid climbing on the roof yourself since it’s risky and can result in injuries. Not to mention the fact that some roofing materials such as natural slate or Terracotta can be easily damaged by foot traffic.

Decide on Roofing Materials

Every homeowner has their preferred style, although most go for Asphalt shingles because they’re usually less costly. However, there are various materials available today. So ensure you make informed decisions when choosing the materials. If you live near Gulf Shores, Pensacola or anywhere else prone to hurricanes and severe weather, ask about Class 4 impact resistant shingles by manufacturers like Owens-Corning.

Owens Corning

Your budget will vary depending on the type of materials you choose. While beautiful, natural materials like cedar and slate tend to carry a higher price tag than asphalt shingles or even metal roofs.

If you plan to invest in new siding at the same time, you can expect a higher budget, although this will be an added advantage to your home’s energy efficiency in many cases when the existing siding is old and worn out.

Create a Savings Plan

With all the above factors considered, you should be able to make a more informed decision based on your goals and budget. Replacing a roof may not be a walk in the park, and you’ll need to set aside money for the project or speak with your roofer about financing options to avoid straining your finances.

How much you decide to save monthly or quarterly depends on your income and the roofing budget. Wells Fargo suggests creating a separate bank account for home repairs and automatically contributing 1-2% of your home’s estimated value to this fund each month. It might make sense to start with a slightly higher percentage though if you can afford it and you know your roof is going to need a full replacement soon.


Some homeowners find it challenging to set aside money for a new roof from their tight monthly budget. If that’s the case, you do not have to worry about that. You have options from using some of your home equity or taking out a home improvement loans to working with a contractor that offers financing and low monthly payments so that you make your roofing dream come true as soon as possible.

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