Asphalt shingles are generally the cheapest option as they are not only one of the cheapest roofing shingles but also one of the cheapest types of roof to install. Metal roofing can also be an affordable alternative as well.
What is the Cheapest Roofing Material? Plain and simple, the absolute cheapest roofing material based on cost alone is asphalt shingles. However, some other options are more expensive at the initial cost but will last longer, such as wood shingles, metal shingles, slate shingles, and solar glass shingles.
However, winter is usually the cheapest time of year to replace your roof. This is simply because winter is the slowest time of year in the roofing industry. Because of this, roofing contractors' prices are generally the lowest or more competitive during the winter months.
They typically have a lifespan of around 20 to 30 years. So, a 20-year-old asphalt shingle roof could be considered nearing the end of its useful life, and you might start experiencing issues like curling, cracking, or granule loss.
In fact, a new roof has the potential to lower your insurance premium anywhere from 5 to 35 percent. However, another thing that can affect the overall discount of roof insurance premium is the type of material your roof is made of.
Asphalt shingles are amongst the cheapest roofing materials available today. In fact, more Americans choose asphalt shingles than any other roofing material, largely because of the low upfront cost.
For a simple roof with asphalt shingles, the cost per square foot can range from $4 to $6 per square foot. With a square footage of 1,500, the total cost would be between $6,000 and $9,000. For a complex roof installing standing seam metal, the cost per square foot can range from $12 to $19.
Financing Through Your Roofer
If your roofing company partners with a home improvement financing company, you'll be given a choice of loan options (none of them zero-financing) so you can easily compare your options and find the one that's best for you.
The USDA offers grants of up to $10,000. These grants can be used for any housing repair, including re-roofing.
Roof Maxx infuses shingles with a plant-based oil, rejuvenating the asphalt core by replacing its depleted petrochemical oils. This revives the shingle's flexibility and durability, making it more resistant to the elements.
Metal roofs are extremely durable, resistant to many weather conditions, and have good longevity. This roofing material is typically a plus for insurers.
Fiberglass asphalt shingles, also known as square shingles, are a cost-effective and durable roofing option. These shingles consist of a fiberglass base mat covered with mineral granules and asphalt. They provide excellent protection against harsh weather conditions and can last up to 30 years with proper maintenance.
Roof replacement costs $9,511 on average, with most homeowners spending between $5,866 and $13,209. A roofing pro will assess the size, pitch, and material for your total cost.
Roof requirements for homeowners insurance
A newer roof may mean a lower rate. A roof that's 20 years old or more may be ineligible for coverage or only be covered for its actual cash value. Condition: Insurance companies are looking for roofs that are in good condition with no visible signs of wear or tear.
Insurance companies often provide discounts for homes with new roofs because they are less likely to suffer from leaks or structural damage. Materials matter, too. Opting for impact-resistant shingles or fire-resistant materials can further reduce your premiums.
Should I tell insurance about a new roof? Yes. In general, if you've made any significant changes to your home, you should keep your insurance company in the loop.
Fall. Fall is the universal go-to season for roof replacement. With spring's mild temperatures and early summer's weather consistency, fall is commonly referred to as the best time of year to replace your roof.
The national average cost of a new roof at 1,000 sq. ft. is $4,750 to $10,000, with most homeowners spending around $7,000 for architectural shingles installed on a cross gable roof. This project's low cost is $3,000 for 3-tab shingles installed on a gable roof.
Generally, the older your roof, the higher the amount depreciated…or not covered under your policy. If your policy is for RCV, your insurance company will pay the replacement cost value of your roof at the time of a covered loss. This means the replacement cost value minus your deductible.