Roof repair and replacement can be one of the more expensive aspects of homeownership, especially if the cost of the work isn’t covered by insurance. For many people, even minor roof damage can quickly add up to large out of pocket expenses. Luckily, there are a few ways to avoid being caught off guard by costly repair work.
Reducing Risk
The most important aspect to keeping roof costs low is routine inspection and maintenance. Many people wait until a problem arises before ever taking care of their roof. This is a huge mistake. Instead of waiting for an obvious sign of a problem, conduct season inspections of your roof to ensure the materials are in good condition. Look for things like cracked, broken or missing shingles. Check to make sure the flashing has a good seal and that there aren’t any gaps in the roof materials near structures. An inspection of the attic ceiling should also be conducted to ensure there aren’t any indications of water leaks or damage.
Even with routine inspection and maintenance, a roof doesn’t last forever. There will come a time when it need to be replaced. The average roof replacement can cost anywhere between $5,000 and $25,000, depending on the size of the home and materials used. That being said, there is really only one way to ensure you are prepared, and that is by saving money. If you purchase a home with 10 years left on the life of the roof, you can safely plan to replace that roof within at least five years. Never assume you have the full life of the roof remaining before replacement becomes imminent. Save money ahead of time so that you aren’t put into a financial hardship over the costs to replace the roof.
