Are Roofing Prices Still Going Up? What To Do In That Regard

The global crisis that arose due to the COVID-19 pandemic has disrupted quite a several industries. And roofing is one of them. Last year, the nationwide lockdown stopped every manufacturing and supply chain abruptly that resulting in grave losses. Transportation came to a halt as well, as except for essential stuff, few other industries could transport raw materials. And roofing, like many other industries, was not included in the essential services/products sector. 

 Then there was the Texas Freeze, and the trade war with China that affected the industry worldwide, let alone in the US. This year in February, three winter storms that passed through the US generated a loss of power, rendering about 4.5 million homes and commercial properties without water and electricity for many days. More than 700 people lost their lives too in the crisis. The blockage of the Suez Canal in the next month was another factor that affected the lives and businesses of US citizens. The 400-meter long TEU container ship that grounded across the canal obstructed traffic, hampering trade between the US, China, and Middle-East. 

 While everyone thought that the pandemic would be the last of all their problems, these incidents proved that anything can happen anytime and that a chain crisis is not impossible. These events affected the roofing industry tremendously, shooting up the prices of raw materials and services. From the production of roof shingles and other raw materials to logistics and roofing services, prices are on a sharp hike and are expected to continue throughout the year. The cost of some metal products (steel and aluminum) in Denver, Fort Collins, Pueblo, and other places in Colorado is on a 25% hike, while that of metal accessories is up 35%, the highest spike in quite some time. Then there are the plates and fasteners, which although experience lesser spikes, still, a 10% hike is too much for some contractors. 

 So, what should the contractors or homeowners do in the face of such a crisis? How can they meet their requirements without going broke? Scroll on! 

 First of all, the homeowners should be aware of all the factors that affect the prices of a new roof or any repair work that may be necessary. Let’s get on with it then:

The factors affecting roofing prices

Be it selecting a roofing contractor, or the roof materials and bid details, you have to know the key factors that affect the costs. How does the company calculate the prices of a new roof and based on what? Is there any way you may reduce these costs? Let us tell you everything:

The size of the roof

It should pique your interest that all roof measurements are determined by the roofing square, which you get by dividing the surface area in square footage by 100. Most of the materials that the contractors buy are priced based on this unit - roofing square. And it is needless to say that the more area they cover, the prices are higher. \

The time is taken to remove the canold roof

The amount of time it takes to remove the old roof also affects the prices of roofing services. In other words, it is the labor cost that depends largely on the type of damage and how much time it takes to remove the damaged roof. Besides tearing off, disposing of the old roof also requires some labor, thus a small fraction of the total cost is calculated based on the same. 

The slope of the roof

The roof slope, also known as the pitch is another factor that affects roofing prices. If the pitch is too steep, more than 6:12, it is considered dangerous for walking and may require greater labor and staging to make it safe and convenient for the homeowner. Hence, the prices will increase for installing such a roof. 

Fire rating and underlayments

Depending on the roof pitch and the type of roof, the fire rating and underlayment system are determined, which again, helps calculate the right pricing for a roofing job. For example, a composition shingle roof with a pitch between 2:12 and 4:12 requires only two underlayment layers to get an A-Class fire rating, while one with a pitch between ½:12 to 2:12 may require multiple underlayments. The prices will be set accordingly.  

Valleys and peaks on the roof

The more the number of skylights, chimneys, valleys, and other peaks on the roof, the higher will be the prices. It is because these roofs require two or more planes, which, in turn, needs more labor and time. If the planes are not joined properly, there may be chances of leaks, eventually leading to worse damages. And nobody wants that, right?  

Type of materials

Now, this is one of the crucial factors that determine the price of a roofing job - the right selection of materials. How to select these roofing materials. One should consider design, aesthetics, weight, and durability, all of which are different in different materials. For example, a stone-coated steel roof is quite popular these days, because of its energy efficiency, range of styles, diversity, and low-maintenance features. These also have a longer lifespan and can last several decades with minimum maintenance. They come in about 26-gauge rolled sheets with rust-preventive properties. The stone layer sticks to the metal roof and gives it the appearance of a stylish stone roof. 

 Then there are asphalt composition shingles, concrete, or clay roofs that are also quite popular. One should check out the prices of each before talking to the contractor. 

Additional components being installed

Most people are not aware of the nitty-gritty of roof installation and assume that it is all about a new tile or shingle. But several other factors, like waterproofing, underlayment, decking, insulation, and ventilation, require additional components, thus increasing the costs. Even the types of fasteners that the contractors use have different levels of performance, manufacturing costs, and durability. 

 Other factors that affect the pricing of a roofing job are accessibility, or how much time and labor it takes for the servicemen to reach the roof, the roof warranty, which may differ from one contractor to another, and many more. As a homeowner, you should find a reliable contractor who will explain all these prices to you in detail so that you do not get ugly surprises at the end of the job. 

What contractors can do in the face of the current price-hike crisis?

The prices are expected to be high throughout the year, so the contractors need to prepare themselves for the worst. However, there is a way to reduce the damage. They should be upfront and honest with their customers and discuss their expectations as well as potential costs before starting the job. That way, there will be a seamless channel of communication between both parties, and the customers will be prepared. With the pandemic still ongoing, people have lesser places to invest in, like recreation and vacation, thus saving more money for home improvement projects, like roof repairs and replacements. Hence, if contractors can explain the price hikes and give them a budget estimate in advance, they can think it over and discuss settlements. 

For the homeowners, however, the main job is to find a roofing contractor in Colorado or elsewhere, who is able to do that and more. Make a list of reliable contractors and talk to each of them about your requirements and expectations. Do not leave out the price details, as it is the key determining factor for roofing jobs these days. If the contractor seems friendly enough to discuss everything with you, check out their previous works then. If all goes well, and you know you can trust the company, go ahead. It is dangerous to delay roofing jobs in such a volatile market.