How much does it cost to replace a roof?

Q: I’ve been dealing with lots of roof leaks lately. When it rains hard, I sometimes have to put a pot down on the floor to catch all the water. How much does it cost to replace a roof? Chris, Memphis, Tennessee

A: Good question, Chris. A roof is one of the most expensive items you’ll ever replace on a home, so I can understand why you’d want to know how much it’s gonna cost. I’m in the process of replacing a roof on a building I bought 8 years ago right now, so I know where you’re coming from. The first thing to consider is that material and labor costs will vary enormously from place to place- because it costs more money to move materials to certain parts of the country than others and because the supply and demand for labor is different in different places. Also, there different types of roofs (flat roofs, pitched roofs and there are different types of roofing materials) and obviously the size of your house and therefore the size of your roof will factor into the cost. Also, the higher and steeper your roof is, the more expensive it will be to replace, so for all these reasons I can’t really give you one cost estimate that’s going to work everywhere. But, for your purposes, unless you’re planning on installing your roof yourself, which I wouldn’t recommend doing unless you have experience, there’s no need to separate the materials cost from the labor, just get quotes for the entire job (materials+labor+cleanup)– To simplify things, think of the roof replacement process in 2 steps, step one is to decide whether you’ll remove the old roof or shingle over the existing roof and step 2 is to install the new roof. Removing the old roof will be more expensive but your roof will probably last longer. Shingling over the existing roof will be cheaper but the new roof probably won’t last as long. This was a very good question, Chris, in the next Ask Gerald episode I’m going to take things further and tell you how to go about finding a good roofer and how to protect yourself with a solid written agreement. Thanks for your question, Chris. Good luck. For more real estate tips and for information on my real estate coaching program, visit performanceproperty.com. I’m Gerald Lucas and I’ll see you again soon.