2002 Cost Vs. Value Report: Roof replacement

2002 Cost vs. Value Report

Roof Replacement
“People worry about water,” says Jana Peters, of Mark Peters Realty Inc. in Bridgeton, Mo., a suburb of St. Louis. “So basements and roofs are always questioned.”

But beware: Even if a roof is new, that doesn’t ensure that it’s high quality. As Minnesota remodeler Marty Schirber points out, a homeowner thinking of selling might solicit 10 bids from 10 roofing companies and go with the cheapest. “I can’t tell you how many roofing problems result from that scenario,” says Schirber. “The buyers would almost have been better off with the old roof.”

Reroofing costs range widely, from $6,288 in Norfolk, Va., to $15,435 in Chicago. The national average for the project specified in our description is $11,399. Salespeople and appraisers estimate homeowners would recoup 67 percent of that in resale.

PROJECT DESCRIPTION

Remove roofing to bare wood and dispose of properly. Install 30 squares of fiberglass asphalt shingles with new felt underlay, galvanized drip edge, and mill-finish aluminum flashing.

Market	Job Cost	Resale Value	Cost Recouped
National Average	$11,399	$7,644	67%
Atlanta	8,955	5,592	62
Boston	14,445	12,422	86
Buffalo, N.Y.	12,048	6,650	55
Chicago	15,435	11,887	77
Cincinnati	12,624	6,417	51
Cleveland	13,008	8,082	62
Columbus, Ohio	11,280	3,346	30
Dallas	8,976	6,250	70
Denver	9,585	4,308	45
Detroit	12,824	5,114	40
Houston	9,408	5,962	63
Indianapolis	10,560	4,100	39
Kansas City, Mo.	10,560	4,363	41
Los Angeles area	12,986	14,445	111
Los Angeles	13,392	18,370	137
Orange County, Calif.	12,579	10,520	84
Miami	8,880	6,375	72
Milwaukee	13,344	8,884	67
Minneapolis	13,856	8,083	58
New Orleans	8,256	6,629	80
New York area	13,568	11,442	84
Passaic, N.J.	13,392	9,750	73
Nassau-Suffolk, N.Y.	14,352	9,370	65
Fairfield-New Haven, Conn.	12,960	15,207	117
Norfolk, Va.	6,288	2,700	43
Orlando, Fla.	9,312	4,528	49
Philadelphia	14,832	9,735	66
Phoenix	9,504	4,417	46
Pittsburgh	12,096	5,500	45
Portland, Ore.	11,660	8,500	73
Providence, R.I.	12,000	6,000	50
Sacramento, Calif.	12,336	8,500	69
Salt Lake City	9,312	5,840	63
St. Louis	12,768	5,917	46
San Antonio	7,824	5,275	67
San Diego	12,576	10,625	84
San Francisco area	13,248	13,118	99
San Francisco	13,248	12,600	95
Oakland, Calif.	13,248	13,635	103
Seattle	12,536	8,505	68
Tampa, Fla.	8,880	5,720	64
Washington, D.C., area	9,401	5,903	63
Washington, D.C.	10,560	7,667	73
Baltimore	9,168	6,167	67
Richmond, Va.	8,476	3,875	46