FSRA # 13257

Mortgage Solutions You Can Trust!

Talk to Us: 1-877-383-1577

Discover the average price of installing a new roof

Refinance For Roof Reno

With homeownership comes repairs; discover the average price of installing a new roof in Canada. When you own a home, there will likely come a time when the roof needs to be replaced due to the materials that start to worsen. Whether you have a roof with clay tiles or asphalt shingles, the elements can cause the structure to wear down. When you plan to install a new roof, there are a few different factors that influence how much you can expect to pay for the project in Canada.

Materials – Discover The Average Price of Installing a New Roof

The main factor that influences how much your new roof will cost is the materials you choose to install. The price of each type of material varies, depending on its lifespan and durability. Asphalt shingles are the most common type of roofing material to install in Canada because they’re the most affordable. They have a lifespan of 15 to 30 years and cost about $2.76 per square foot. The cost of this type of material also varies because there are different types of asphalt shingles available. Fibreglass, organic, and asphalt shingles are available.

Metal roofs are an ideal option because they can last as long as your home and are considered to be more durable than asphalt shingles. They range from $5.88 to $14.70 per square foot, depending on the type of metal panel you select.

Many people favour this type of material because they hold up well in all types of climates and insulate the home from high temperatures.

Clay tiles are another type of roofing material that is common to see in different styles of homes. They’re extremely durable and insulate the building with an average price tag of $10 to $18 per square foot.

The size of the roof will significantly influence how much you’ll have to pay because of how many materials are needed.

Slate roofs are known to offer the most curb appeal but also come with the highest price tag. They can last more than 100 years and are a heavy material, allowing them to insulate the building and reduce your energy costs.

Slate tiles cost an average of $25 to $40 per square foot. When you choose to install slate, you’ll need to find roofers who are more experienced with handling this type of material. The heavyweight of this material can also require more crew members to be used to install your new roof, adding to the cost of the project.

Additional Costs

Aside from the roofing materials, you can choose from, there are additional costs many homeowners don’t think of when installing a new roof. One of the most expensive factors is the cost of removing the old materials.

Some roofing companies offer to install the new materials directly on top of the existing roof, but this can be problematic if the current roof is in poor shape. You can expect to pay an average of $1,000 to remove the old shingles or tiles.

In some cases, rafter reinforcements are necessary for certain types of buildings. This is common if you select a heavy roofing material like slate to prevent the roof from placing too much pressure on the building, which can compromise the structural integrity of your home. Rafter reinforcements can cost up to $10,000, depending on the size of the home.

Those who live in regions of Canada that have humid climates can also expect to pay for moisture-proofing. This service is provided by roofing companies to prevent fungal growth from developing on the shingles due to excess moisture that is present in the air. This is a necessary treatment to protect the quality of your roof and allow it to last longer.

Roofs that have different eaves or peaks also cost more to replace because it makes the project more complicated. The cost also depends on the incline of your roof and the structure complexity, making it necessary to receive an estimate in advance.

A professional roofing company will come out to your home to inspect if any ventilation needs to be added, which is an extra cost.

Labour Costs

The cost of labour is a significant portion of what you’re paying to have a new roof installed. The cost of labour varies, depending on how experienced the roofers are and how much training they’ve undergone. More experienced veterans in the industry will charge more due to their expertise and experience. This means the roof can be installed better without any mistakes present, which can offer more protection to your home.

Newer roofing professionals who only have a few years of experience typically charge a lot less because they’re less established. You can also expect the roofing replacement price to depend on the warranties that come with the labour and materials.

Paying for the Roof Replacement

Once you decide to invest in a new roof, you’ll need to consider how you’ll pay for the overall cost. Most homeowners can’t afford to pay for it in cash, but there are still many options available. Home equity loans are available, which allows you to use the equity on your house as collateral for the money you want to borrow. You can easily apply for a home equity line of credit. The amount of money you borrow depends on your home’s property value. You’ll need to have the home appraised to determine how much money the lender will allow you to borrow.

Refinance options are also available, which allows you to take out the money you need for a new roof.

Knowing what costs come with a roof is important so that you can prepare financially. You can avoid any surprises and also apply for any financing you may need to ensure you can continue to maintain the quality of your home.