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Why Replacing Your Roof Now Will Save You Money in the Near-Future
While owning a home, there is always something that can be fixed, upgraded, or taken care of, whether it is inside or outside of your home. One of the biggest and most expensive care items is the roof, which makes it one of the items that is most delayed. Typically, when homeowners have extra money for their home, they jump right to remodeling; however, replacing your roof now will save you money in the near-future.
What is holding most homeowners back?
Money. We all know that a roof is not cheap, and that most people don’t have thousands of dollars lying around just waiting to be spent on something that seems less pressing. We would rather have the shiny new kitchen, or the car with the extra features, or even a pool to lounge in out back. But the truth of the matter is that the roof is the biggest asset to your home, ensuring protection and safety. On average, a family of 4 spends over $20,000 a year on health insurance, because it is a necessity, a safety net when accidents happen or unforeseen illnesses occur. Yet, the idea of spending $20,000 for a roof that will last 15-20 years is painstaking and avoided like the plague.
The average length of owning a home is 13.2 years. South Florida’s average cost for a roof replacement is $15,000. This means that replacing your roof will cost roughly $1000 for every year you are in the home if you stay in the home, that’s only $83 a month! This is less than people pay for cable each month and it will provide you with peace of mind knowing that you are protecting your largest asset.
Replacing your roof now (before it leaks) will save you money and a headache in the near future. A new roof can offer additional safety benefits, money-saving opportunities, and a way to make our environment a little cleaner.
Every homeowner wants to keep their assets within the home protected and safe. Think about your family, your heirlooms, your personal values that can never be replaced like photos. If your leaky roof allows water to come in and ruin irreplaceable items, then you will be at a major loss that even your insurance won’t be able to replace or fix.
The roof is the main part of the home that is keeping everything inside safe from the brutal forces of nature. Old roofs that are leaking, or have the potential to leak, can cause damage to the inside of your home, costing even more money on the interior fixes as well. Let’s say you decide to upgrade your kitchen cabinets and floors throughout the home. A terrible Florida rainstorm rolls through, with high wind gusts and causes a leak in your roof. That leak will eventually seep through all of the layers in your ceiling, only to drip down onto your brand new cabinets, then down those onto your brand new floors. Now all the work and money you spent to upgrade and remodel your home are futile, because the roof wasn’t secured enough.
Additional to the interior safety a new roof provides, think about the exterior safety features a newer, more modern system will extend to you. The manufacturing of products is always being tested and retested and upgraded, so products are constantly getting safer. Systems we had in place 20-30 years ago use outdated methods and materials.
Having a new roof can save you hundreds and even thousands of dollars each year. Statistics show that replacing your roof can increase the value of your home by more than $17,000, with over 60% recovery on installation costs. So you are spending money with the knowledge that most of it will return back to you. Additionally, pricing increases every quarter, and significantly every year (8-12% increase generally and can occur 2-4 times a year), which means the longer you wait to replace your roof, the more it will cost. So replacing sooner rather than later will save you money in those regards as well.
There are actually several areas that you can save money by replacing your roof: electric/energy bill, cost of materials, and homeowner’s insurance.
A shingle roof can increase energy efficiency in your home by up to 30%. A metal roof can save 40% or more in energy costs as well. This can save you up to $500 a year on utility bills.
But how does a new roof save energy and money? Proper venting is one way. When replacing your roof, new venting methods can be used. ** Explain more
Another way a new roof lowers energy use is through reflectivity and emissivity. Since metal is more reflective (about 83% of sun’s energy can be reflected by a metal roof), it saves energy over time. It is good to note that the lighter colors, such as silver (galvalume) and white reflect more than the darker colors.
The state of Florida has had a huge influx of Hurricane claims through insurance companies over the past few years. Because of this, several insurance companies have either pulled out of Florida completely or have gone bankrupt and out of business. The insurance companies that are left in Florida are getting stricter on the qualifications of insurance. Most companies won’t insure or renew homes that have a roof that is over 15 years of age for shingle and 20 years for tile. Not only that, but insurance premiums are at an all-time high right now, with estimates showing an increase from 10-40% coming in 2023.
A new roof is less likely to have damage or leaks, reducing the risk of potential claims. Insurance companies often offer lower premiums for homes with newer roofs because they are less likely to experience issues that could lead to costly repairs.
Many insurance companies offer discounts for impact-resistant roofing materials, such as asphalt shingles with a Class 4 rating. These materials are designed to withstand hail and other severe weather conditions, reducing the likelihood of damage and potential insurance claims.
Insurance companies may offer discounts for homes with energy-efficient roofs since they can lower the risk of heat-related damage and reduce the need for excessive air conditioning usage.
It’s important to note that insurance policies and discounts vary by provider and location. It’s recommended to consult with your insurance company to understand their specific requirements and potential savings associated with a new roof installation.
Replacing your roof now will save you money in the near future. While it may seem like a significant expense upfront, the long-term benefits far outweigh the initial cost. Not only will you ensure the safety and protection of your home and belongings, but you’ll also experience financial savings through increased energy efficiency and potential insurance discounts.
Don’t wait for your roof to start leaking or causing damage to your home. By proactively replacing your roof, you’ll avoid costly repairs and potential interior damage. Plus, with the rising costs of roofing materials and insurance premiums, replacing your roof sooner rather than later can help you save even more money
At Code Red Roofers, we understand the importance of a reliable and durable roof. With our years of experience and commitment to quality craftsmanship, we can provide you with a new roof that will not only enhance the safety and security of your home but also offer long-term cost savings.
Contact us today for a free estimate and let us help you protect your largest asset while saving you money in the process. Don’t delay - invest in your roof now for a brighter and more secure future.