One of the most frequently asked questions we receive pertains to roof replacement costs.
In 2021, the construction market continues to be strong in both Canada and the United States. This is in large part as a result of high consumer demand for residential re-modelling and maintenance projects, as well as contruction required to mitigate damages to homes and infrastructure caused by extreme weather events in Texas and various southern U.S. states.
The result has been an increased demand for building supplies, and a delay in product manufacturing, with an interrupted supply chan as a result. Other factors include the fact that fuel prices have risen forty percent as of the date of this writing.
This has set the stage for roof replacement costs to increase substantially in 2021. As an example; a sheet of half inch plywood rose from $23 in January to $91 in April. Shingles have increased twenty-five percent in that same period with supplier warning that prices will increase a further thirty percent by year end. In fact shingle manufacturers have begun to limit their product lines in Canada.
The same is true for most every asphalt or metal based roofing product. While it is expected that some commodity building products will drop in price such as lumber; experience tells us that seldom do things go back down to pre-pandemic levels. Perhaps an element of greed involved? Hard to say in fact, but it puts more pressure on an already very competitive building industry.
These times have also played a role in driving up labour costs to produce such work. The fact is demand is high and skilled worker supply is short. Employers across the board have raised wages and benefits in a bid to retain highly skilled employees, and keep them from being poached by competitor firms.
After speaking to the head of a large recruitment firm, I was interested to learn that across all industries ,not just construction; employers are looking five years ahead in terms of being able to have sufficient staffing to meet their growth requirements.
So we have the perfect storm. The good news is that housing and real estate prices have risen dramatically in the past two years and demand for housing is at an all time high. While the result is that increasing costs for delivering construction services will be borne by the consumer; many business sectors are thriving, and many consumers are not as concerned about price as their investments and real estate are seemingly keeping pace.
The fact is, most of us have had to adapt to working from home; and those people that are able, are also establishing their lives in more rural environments like cottages and farms. It is believed by some that life as we had known it for decades, has changed for good and many people have discovered the benefits of , working on-line and virtually, and are replacing the daily commute, or air travel for business purposes, in favour of a more connected life with their family and the natural environment.
As a result; many people in spite of increased construction costs, are feeling the benefits of improving their living environments and consider such costs a wash against the fact that they also have increased
fortune. While this may not be the case for all people , certainly there is a large segment of the population in Canada that does have a positive outlook toward their financial future.
The costs of roofing services in Canada will likely rise by fifty percent by year end, with the majority of increase being attributed in large part to material costs, and incrementally due to labour increases. Where our business has been concerned, margin has not increased. The hope is that increased volume will help to provide a moderate gain over the prior year.
Some examples of residential roofing pricing given current market conditions:
- Shingle strip –one layer on plywood $ 550– $850 per square
- Shingle strip-multi layer on board $ 750- $1,200 per square
- Flat roof strip- One layer $ $2,000- $4,000 per square
- Flat roof strip- multi layer/bad access/garbage long haul $ $4,500- $6,000 per square
- Slate Installation $3,500-$5,000 per square
- Cedar Shingle/Shake Installation $ 3,200- $4,500 per square
- Copper Gutters $45-$75 per linear ft. (depending on gauge and profile)
- Aluminum Gutters $25- $35 per linear ft.
- It is important to note that pricing noted above is subject to change based on individual project circumstances and current product pricing. Pricing supplied is a general guideline only. Anyone seeking specific project pricing should request an estimate from their selected roofing contractor vendor. Actual pricing may vary by location, product selection, and availability.
Many consumers are electing to vet their contractor selections for projects at this time understanding that market conditions can vary, and that good contractors tend to become busy very quickly. Even if one anticipates completing their project in the following year; now is the time to pre-plan and budget for such work.
One benefit may be that certain materials such as lumber may lower or stabilize in price when one is actually ready, or the contractor is actually available to do the work.
The current market circumstances in the GTA are such that there are some shingle product shortages. ar If you are a client with a home where the roof is in need of replacement, or a larger facility such as a townhouse complex with similar circumstances, it may be wise to book your project sooner rather than later.
Another comment on the subject of roof replacement costs relates to safety requirements which may be necessary to complete a particular job. Home and business owners who engage contractors to do work are also considered constructors under the most recent Ministry of Labour, and Workers Safety and Insurance Board guidelines.
This has been designed to increase responsibility on behalf of those paying to have construction work completed. The concept discourages people from hiring those firms who do not pay into WSIB and who under-cut the market by doing cash business.
Legislation requires that the consumer obtain proof of a current WSIB clearance certificate from the contractor they are engaging, proof of insurance, and verifying strategies necessary to keep workers safe on site.
Examples include the use of scaffolding erected by a licensed vendor, fall arrest equipment being utilized, protection against bio-hazards such as asbestos, vermiculite insulation, and the list goes on.
Such described items commonly fall into the realm of what roofing contractors must address as part of their bigger picture which is the actual roof replacement.
In other words; there can be the cost of completing the roofing project and an additional cost to employ the equipment or strategies to get that work done.
To learn more on the subject of roofing, building envelope work and the costs associated; contact AVENUE ROAD ROOFING® or visit www.avenueroadroofing.com
