How do you Price a Roofing Job?
Getting an accurate estimate for a roofing job and profiting from it can be challenging to a roofer. For that reason, most of the contractors underbid the jobs and end up charging less for the overhead. To avoid such errors, you should know how to price a roofing job.
When using a rate card, break down the cost of each service and any materials you will use. Ensure you account for everything, including your time. As a result, you’ll spend less money as a homeowner and make more profits as a roofer.
Before looking at how to price a roofing job, let’s look at why homeowners hire roofers.
Reasons Homeowners Hire Roofing Experts
A roof installation or repair project can be complex when one lacks the required skills. For that reason, most homeowners end up hiring roofing experts to do the job.
Here are the other reasons to hire a roofing expert like Roof Master via their website.
Many homeowners like DIY projects, which are exciting and cheaper in terms of cost. However, some of the DIY roofing projects don’t end up well. Since most homeowners have fewer skills and expertise, fatal incidents are more likely to occur.
The good news is that roofing professionals have good skills for the job. They also have the proper attire to protect them while fixing the lost shingles and dented iron sheets. As a result, this ensures safety for you, your roof, and your family members.
Roofers are experienced people who have worked on hundreds of roofs and are used to the job. Therefore, it will take them less time to install your home’s roof, which could have taken you a month or two.
Having your roof installed fast ensures your home’s furniture and other items don’t get exposed to elements like rain and sunshine. It is also an advantage to work with roofers because you can call them to fix any roofing mistakes.
3. Saves money
Homeowners take on the challenge of DIY roofing to save money, which does not end up well. You will be required to buy roofing tools and materials or rent them at a high price. You wouldn’t want the roofing project cost to surpass your budget.
Thankfully, roofers always come with their roofing tools. Besides, some of them carry low-priced roofing materials because they buy them in bulk. Consider hiring a reliable roofing professional if you aim to save extra money.
4. Better roofing material
Homeowners trust materials that the roofer has chosen because they have better knowledge of the best ones. The roofers also know the best equipment to use for the entire process, so you won’t need to hire or buy tools you won’t use again.
How to get the accurate estimate
Now, let’s divert our attention to the procedure of estimating the price of a roofing job.
1. Know the right size of the roof
The cost of installing a roof is highly dependent on the size, type of material utilized, and location of the home. These can only be determined after meeting and discussing with the client. Therefore, the first step is to schedule a meeting with the client.
Ask the client how much they are willing to spend on the roof, the type of roof they want, and their home’s location. Ask about their expectations. If they are unsure of what they wish to do, recommend the best tops considering the budget and climatic conditions.
While recommending roofs, also consider the building codes in the area. For example, some states do not allow the installation of certain roof materials and colors. Also, the client’s wish might not be possible depending on their current type of roof.
2. Measure the roof
Get the correct measurement of the roof to know how many shingles or the size of the iron sheets you need to get. This also helps you to know the cost of the roofing material. Most money is spent on materials, so you should take correct measurements.
Use a roofing calculator to calculate the roof base length and width and also the roof pitch. If you are doing a roof repair, check the damaged areas and do the calculations. You should also note down any extra materials you think will strengthen the roof.
3. Get cost estimation of the materials and labor
Once you know the size of the roof and how much material you will need, estimate the cost of each material. Note down the price, which depends on the material and their sizes. For example, shingles cost differently from iron sheets.
Ensure you also include other roofing materials like nails, underlayment, vents, and flashing. Remember, the cost will also depend on your supplier, so contact them first to get the accurate figures.
Another thing to remember is pricing your labor. The price you put on it depends on how long it will take you to finish the project in terms of hours and the number of employees. A better way to get an accurate estimate is to look at your previous jobs.
4. Determine your overhead cost
The overhead costs are all expenses paid for accounting, uniforms, office rent, and insurance. It also includes the roofing tools you own and the rented ones. Failure to include overhead costs will have you not earning any profits from the job done.
An easier way to cover your overhead costs in every project is by breaking down the amount you need to make in a week, day, and per hour to meet your expenses at the end of the month.
Therefore, if you divide the total expenses per hour and get $10, charge the homeowner $10 per hour for overhead in your roofing job. For example, if you work for 55 hours, multiply the $10 by 55 to charge $550.
5. Add the total cost
Calculate how much the cost of the materials, labor, and overhead will be. Make sure you break down this list for your client in an easy-to-understand manner. Clearly state the cost of each material, the total cost of labor and overhead, and give the total cost.
6. Include your markup
The list of the total cost is all expenses without profits. Your desire to be in the business is to make profits, so you should add the markup to earn your desired profits. The formula for calculating this is profit/sales X 100.
Most roofers don’t make the profits they want because they don’t know how to price their roofing job correctly. You should make a professional quote for your following clients now that you know everything to consider when estimating.