Factoring in replacement cost and inflation, one thing that we don't know for sure is: What will a new roof cost in the future? The cost of a new roof seems to double about every 15 years. Let's look at these numbers based upon this happening and an escalated replacement cost of the existing roof.
Cost Before 15 years = $15,000
Cost After 15 years (One Roof Replacement) = $15,000 + $30,000 = $45,000
Cost After 30 years (Two Replacements) = $15,000 + $30,000 + $60,000 = $105,000
Cost after 45 years (Three Replacements) = $15,000 +$30,000 + $60,000 + $120,000 = $225,000
Now, can I tell you for certain a new roof will double in cost every 15 years? I can't guarantee it, but it's likely based on past data. The example above is intended to provide a realistic example of a likely replacement cost scenario. what you can be certain of is a significant increase of greater than 50% every 15 years. Either way, today's price of $27,500 is much cheaper than the price of 2-4 asphalt roofs that will increase in cost each time they are replaced. When you look at the numbers above, there are two paths that you can take to see an ROI for your new roof.
If you plan on living in your house for more than 15 years, a metal roof will be a less expensive long-term investment.
If you're not planning on living in your house for 15 years or more, asphalt shingles will probably be your best bet.
If you are interested in seeing the cost of a metal or shingle roof for your home, please give us a call at (817) 924-1645 or schedule a consultation below.