Roof Replacement Cost: What to Expect

Written by Banks Editorial Team
3 min. read
Written by Banks Editorial Team
3 min. read

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Is it time to replace your roof? You may be wondering how much it’ll cost and if you can afford to put it off to keep more money in your pocket for a bit. 

The reality is roof replacement is costly and could place a dent in your wallet. But delaying the repair for an extended period can end up costing you even more, especially if it leads to more serious damage. So, you’re better off moving forward with the repair and exploring financing options if needed than waiting around until things get out of hand. 

Home Renovation Loans

Learn how the RenoFi ReFi cash-out refinance home renovation loan allows you access up to 80% of your home’s projected value after renovation.

Average Costs of Roof Replacement in the U.S.

Most homeowners spend between $5,000 and $12,000 on roof replacements. However, it varies by the type of roof you select and the square footage of the property. The more pricey the material and the bigger the home, the more you’ll spend. 

How to Estimate Roof Replacement Costs

Consider these factors when estimating how much you’ll spend to replace the roof on your home. 


Do you live in a state where extreme climate conditions, like high temperatures, excessive rainfall and hurricanes, are common? Expect to spend more on roofing materials that will hold up over time. 

Roof Accessibility/House Stories

Roof replacement costs for one-story homes are cheaper than you’ll find with two-story homes. However, the latter sometimes makes it more challenging to access the roof and can create safety challenges that take the roofing company some time to remedy. 

Roof Size and Shape

The larger the roof, the steeper the costs. Shaping also plays a role in the overall cost structure of roof replacements. 

Roof Pitch/Slope

If your roof is steep, the contractor may have to use scaffolding to access it. It may also be necessary to install different materials under the shingles, driving replacement costs up. 

Roof/Shingle Type and Material

The average replacement costs mentioned above were for jobs where standard materials were used. But if you’re looking to use luxury shingles and materials, costs could be well above $20,000.

Roof Features

Is your home equipped with unique windows, skylights or a chimney that mandates waterproofing cuts, special flashing or caulking? If so, you’ll need to increase your roof replacement budget. 

Labor and Permits

  • Average cost: $1.50 – $3.00/ square foot  

Labor costs are often quoted in the form of a square since the size of a roofing square is equivalent to 100 square feet. In addition, permitting fees are typically included in this rate. 

Home Renovation Loans

Learn how the RenoFi ReFi cash-out refinance home renovation loan allows you access up to 80% of your home’s projected value after renovation.

Inspection Costs

  • Average cost: $200 – $600

You can opt to have your roof inspected following replacement to confirm there are no issues with the installation. In fact, it’s often required to ensure the re-roofing is up to code. 

Removal/Disposal Costs

Does your roof have an additional layer of shingles that need to be removed and disposed of before starting the replacement? You’ll likely pay more as it tacks on the additional time needed to complete the job. 

Other Considerations That Can Affect Roof Replacement Costs

Here are some other factors that can determine how much you spend on a roof replacement. 

Current Roof Condition

Is your current roof in bad shape? If so, you could incur additional costs if the roofing company has to take additional time with the replacement to avoid safety issues.  

DIY vs. Hiring Professionals

Unless you’re a licensed contractor with extensive roofing knowledge, taking the DIY approach to replace your roof isn’t the best choice. In fact, it could be illegal in your state of residence and costly if you make mistakes that must be cleaned up by a professional. 

Full vs. Partial Roof Replacement

It’s much cheaper to repair or partially replace a roof than to give it an entire overhaul. However, deciding if this is a smart move depends on the current condition of your roof. Consult with a reputable roofing contractor to determine the best way to move forward.  

Underlying Structural Repairs

Does your roof require structural repairs underneath the shingles before new ones are installed? It could add several thousand more to your budget, depending on the severity of the issue and the extent of the repair. 

Use Your Home’s Equity to Fund Your New Roof

Even if a roof replacement isn’t one of the favorites on your to-do list, it’s possible to get the job done without breaking the bank. Instead, consider RenoFi, an online platform that matches you with credit unions in its network that lets you borrow up to 90 percent of your home’s after-renovation value. So, you won’t have to come out of pocket to make costly repairs and upgrades to your home. 

RenoFi features three financing options: 

  • RenoFi HELOC: Borrow between $25,000 and $500,000 with a RenoFi home equity line of credit. You’ll have up to 10 years to make withdrawals from the HELOC, followed by an amortization period of up to 20 years where you’ll repay what you borrow. Both fixed and variable interest rates are available, and you won’t have to refinance your current mortgage to qualify for this loan product. 
  • RenoFi Fixed Rate Home Equity Loan: With generous terms of up to 20 years, these loan products also let you access up to 90 percent of your home’s future renovation value without having to refinance your existing mortgage. 
  • RenoFi ReFi: If you want to refinance your current mortgage and secure the funds you need to cover renovation costs in a single transaction, the RenoFi ReFi loan could be a good fit for you. Mortgage amounts of up to $2,000,000 are available on this fixed-rate loan product, and you’ll get a term of up to 30 years. But be aware that unlike the RenoFi HELOC and Fixed Rate Home Equity Loans, you’re borrowing power is capped at 80 percent of the property’s after-renovation value. 

Visit RenoFi’s website today to learn more about its loan offerings and get a no-obligation quote to determine how much you can borrow. 


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