Roof replacement - now or wait?

[littlelitmr]

I live in a townhome, where the owner (not HOA) is responsible for the roof and exterior. Apparently, the original roof is now at the last year (20y) of expected life, and lots of my neighbors have had theirs replaced over the summer. I’ve been looking at prices, and they seem very high - wondering if maybe it’s due to continued labor/material shortage, if we’re heading into a recession will prices drop, and should I wait another year? Thoughts? Feedback appreciated!

 

[starry_solo]

I dont think prices for goods such as roofs will drop.

 

[kathy884]

I'm planning to replace our home's roof this year. It's pay now or pay later. I don't see prices coming down. Waiting would only be if let's say you were putting savings aside. We're in our 60s and plan to stay put in our house as long as we can, so this is probably the last one we'll have to do. The people I think I'll have do ours have a six month waiting list. Recession or no recession they will stay busy.

 

[georgina]

I live in a townhome, where the owner (not HOA) is responsible for the roof and exterior. Apparently, the original roof is now at the last year (20y) of expected life, and lots of my neighbors have had theirs replaced over the summer. I’ve been looking at prices, and they seem very high - wondering if maybe it’s due to continued labor/material shortage, if we’re heading into a recession will prices drop, and should I wait another year? Thoughts? Feedback appreciated!

We moved into a townhome with a 22 year old roof and I had some insurance companies refuse to write a homeowners policy because of the age. I did find one, but we ended up having the roof replaced the next year (2022, got a discount on the policy rate then). Since a lot of people were also having their roofs replaced, and the HOA requires 1 specific color and brand of shingles, we got a group rate which was decent. The specific shingle had been in short supply in 2021 but came back into supply. Not sure I would wait too long, maybe see if others still need a roof, around here they have to come in with a large boom truck to lift the shingles up to the top of the roof, multiple deliveries on the same day could be a significant savings.

 

[Spaceace5150]

Do you need a roof or just worried about 20 years?

 

[SandyinMonterey]

I live in a neighborhood/HOA with house built starting 1995 (mine) up to about 2001. There have been plenty of homes in the 1995 category getting new roofs the last couple of years. We live in the South and after a bad storm, had someone come out for an inspection. Said our roof was in good shape, just had to fix some shingles. But I can see us replacing the roof in the next 2 years, maybe sooner. The one thing I don't want is problems with a leaking roof and sometimes it takes a while for that damage to be noticed. I'd rather be proactive. Just like now, going to replace water heater before there is a problem. Got a price of almost $6000 for a 75 gallon Rheem water heater. I don't see prices for anything coming down anytime soon. Many roof companies offer free inspections, get a couple of companies to come out. But you know they're in the business to sell roofs so keep that in mind.

 

[tvguy]

I live in a neighborhood/HOA with house built starting 1995 (mine) up to about 2001. There have been plenty of homes in the 1995 category getting new roofs the last couple of years. We live in the South and after a bad storm, had someone come out for an inspection. Said our roof was in good shape, just had to fix some shingles. But I can see us replacing the roof in the next 2 years, maybe sooner. The one thing I don't want is problems with a leaking roof and sometimes it takes a while for that damage to be noticed. I'd rather be proactive. Just like now, going to replace water heater before there is a problem. Got a price of almost $6000 for a 75 gallon Rheem water heater. I don't see prices for anything coming down anytime soon. Many roof companies offer free inspections, get a couple of companies to come out. But you know they're in the business to sell roofs so keep that in mind.

I guess I won't complain about paying $2,000 for my water heater. It would have been $1,800 but I opted for the 10 year warranty.

 

[SandyinMonterey]

I guess I won't complain about paying $2,000 for my water heater. It would have been $1,800 but I opted for the 10 year warranty.

I'm waiting right now for another company to give me an estimate. Think $6000 too high.

 

[TwoMisfits]

I live in a townhome, where the owner (not HOA) is responsible for the roof and exterior. Apparently, the original roof is now at the last year (20y) of expected life, and lots of my neighbors have had theirs replaced over the summer. I’ve been looking at prices, and they seem very high - wondering if maybe it’s due to continued labor/material shortage, if we’re heading into a recession will prices drop, and should I wait another year? Thoughts? Feedback appreciated!

See if someone will go on your roof and let you know.

I've had folks on my roof twice in the last few years (since I believe my roof is in your age range). Last year's contractor (who had reason to really want me to need a new roof b/c it would have been all insurance covered) told me I still had 3-5 years left, easy, on my roof.

So, I'm still in a waiting game and doing house work that is more urgent. When you live somewhere for almost 2 decades, you just start ticking a project off each year. Last year, I replaced all the wood gardenboxes in my front and back yard (which had rotted) and relandscaped my postage size backyard. This year, if prices aren't stupid (which they were 2 years ago when I got one estimate and said "nah"), I have replacing my deck and painting/carpeting my main floor on my "house list." But either will be skipped if prices are unreasonable b/c, while they are more urgent than my roof, they aren't urgent...

 

[DCLMP]

I live in a townhome, where the owner (not HOA) is responsible for the roof and exterior. Apparently, the original roof is now at the last year (20y) of expected life, and lots of my neighbors have had theirs replaced over the summer. I’ve been looking at prices, and they seem very high - wondering if maybe it’s due to continued labor/material shortage, if we’re heading into a recession will prices drop, and should I wait another year? Thoughts? Feedback appreciated!

Labor may drop in price. We need a roof replaced in the next 5 years too. A lot of people take money out of their homes to pay for home improvements. With interest rates rising I think a lot of those type of home improvement businesses will be suffering and looking for business.

 

[tvguy]

I'm waiting right now for another company to give me an estimate. Think $6000 too high.

My house is 2010 square feet and my roof in 2014 was $10,000. It replaced a roof we put on in 1991 for $6,000. We've been in our house 40 years, it is 44 years old.

 

[focusondisney]

My house is 2010 square feet and my roof in 2014 was $10,000. It replaced a roof we put on in 1991 for $6,000. We've been in our house 40 years, it is 44 years old.

She’s talking about $6000 for her hot water heater, not her roof.

 

[TwoMisfits]

I live in a neighborhood/HOA with house built starting 1995 (mine) up to about 2001. There have been plenty of homes in the 1995 category getting new roofs the last couple of years. We live in the South and after a bad storm, had someone come out for an inspection. Said our roof was in good shape, just had to fix some shingles. But I can see us replacing the roof in the next 2 years, maybe sooner. The one thing I don't want is problems with a leaking roof and sometimes it takes a while for that damage to be noticed. I'd rather be proactive. Just like now, going to replace water heater before there is a problem. Got a price of almost $6000 for a 75 gallon Rheem water heater. I don't see prices for anything coming down anytime soon. Many roof companies offer free inspections, get a couple of companies to come out. But you know they're in the business to sell roofs so keep that in mind.

PS - That water heater price is outrageous. Since you're in a townhome, I would never get the absolute top of the line, which that price seems to be.

 

[tvguy]

She’s talking about $6000 for her hot water heater, not her roof.

Thanks

 

[tvguy]

PS - That water heater price is outrageous. Since you're in a townhome, I would never get the absolute top of the line, which that price seems to be.

Well, 75 gallons is huge for a townhome as well. Our townhouse had a 40 gallon water heater, and our house a 50 gallon unit. I just wonder if there are access issues which have increased the labor costs. And no idea what the permits costs where OP lives.

 

[_19disnA]

$6,000 for a home water heater seems excessive. Home Depot shows various 75 gal Rheem models for around $2,000. Many other brands cost less. If replacing what you have, then the gas/electric connections & water lines are already there so while installation might cost a few hundred dollars, there would be no way that installation costs $4,000 extra. I would shop around and get estimates from some other companies.