roof repair – Oil Prices Affecting Asphalt Shingle Roofing Costs?
Oil Prices Affecting Asphalt Shingle Roofing Costs?
As oil prices hit a new high, increased costs are evident in every facet of our lives. Most people first notice the pinch to their pocketbooks as they’re filling up their gas tanks. For homeowners, the costs of general home maintenance and upkeep are certainly on the upswing as well. For those homeowners with asphalt shingle roofs considering a roof repair, more cost increases may be on the way.
The rising costs of roof repairs can be attributed to several issues. As with any business, transportation costs have greatly increased, meaning that transporting supplies and daily driving are taking a significantly larger chunk of roofing companies’ operating expenses. In Georgia for example, many Atlanta roofers have tried to hold off on passing that increased cost of doing business on to the consumer.
Oil – A Roofing Company’s Double Burden:
However, roofing companies actually have a double burden to bear. Not only have their transport costs risen, but the cost of one of their main supplies is quickly increasing. Most Atlanta roofing companies rely on asphalt shingles to complete their work. Asphalt shingles are made up of several layers, including an inner reinforcing mat, a hard asphalt and mineral coating, a mineral granule surface, and a mineral dust coating on the back. It takes two different kinds of asphalt to create a shingle: a soft asphalt in the mat, and a harder asphalt for the outer surfaces. Since asphalt is created from crude oil, the cost of asphalt shingles is directly tied to that of oil. As oil prices rise, so must the price of asphalt shingles.
Despite rising prices, asphalt shingles are still the most commonly used in roofing today. Even as they become more expensive, they’re still a great value and tend to cost less than other options like copper or slate. They wear well and are less expensive to replace as they age. Asphalt shingles are also available in a wide range of colors, shapes and sizes to fit any home.
The Impact to the Atlanta Roofing Industry:
However, now that their prices are continuing to increase, Local Atlanta roofers are put in a tough position. In order to stay in business, they must continue using asphalt shingles, despite the rising costs. Their increased cost combine
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d with the increased costs of gasoline to power trucks and roofing equipment adds up to a much more expensive job than homeowners may have been looking at in the past. Atlanta roof repair companies have no choice but to pass a portion of the costs along on to their customers.
For some Atlanta roofers, this has meant fewer jobs at a time when their expenses are jumping. Roofing companies both large and small are shaking from the painful blow dealt to them by the rising prices of gasoline, via oil. Some companies have increased costs by the bare minimum amount, meaning that they barely turn a profit on most jobs. Smaller increases in pricing can be better understood by the customer. Since about 85% of homes are covered with asphalt shingles, for many, it won’t be a choice of whether or not they should have roof work done, but how urgent the situation is. Those with serious roof problems will need repairs or even reroofing, regardless of price. Those who are considering a new roof for aesthetics will most likely put the project off for another time, probably waiting until gas prices drop.
The trickle down costs of increased oil prices are a surprise to many homeowners. Despite the increased costs of roofing supplies and materials, for many Georgians a roof repair in metro Atlanta will not be an option, but a necessity.
By: Tim McLoughlin
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Tim McLoughlin and KTM Roofing are dedicated local Atlanta roofers that specialize in roof repair in metro Atlanta. Tim is an expert on Atlanta roof repair companies and the reroofing industry.
Have your 2010 tax documents arrived yet? If not, they soon will. Their arrival is often met with disdain by taxpayers, but it should also serve as a reminder to American homeowners to look into any new rules and regulations they can take advantage of that could save them tax dollars in the upcoming year. That’s especially true while the recession plods onward and President Obama continues to offer stimuli in an effort to jump start the economy.
Part of that economic stimulus plan can be financially rewarding for homeowners who know how to leverage it. That’s because it includes tax dollar incentives for homeowners who undertake energy-saving home repairs and retrofits. It’s always best to consult with a tax professional before undertaking such repairs, just to make sure they’ll be covered under the president’s plan, but in most cases, an energy-efficient roofing repair or replacement will fill the bill.
According to a recent Pacifica Tribune feature, undertaking “‘green’ projects for your house (like an energy-saving roof)… will generate a 30 percent tax credit from the government, enabling you to knock up to $1500 – and maybe a whole lot more – off your year-end tax bill. They’re (such projects) called Federal Energy Efficiency Tax Incentives.” And one of the ways in which the newspaper advocates taking advantage of these incentives is by installing “solar reflective metal or asphalt roofing.”
That’s right. Throughout the entire year of 2010, provided the total cost falls under the $5,000 threshold, a new energy-efficient roof can save you a significant sum when tax season rolls around next year.
Want to get even more tax-saving benefit out of the stimulus plan? Then consider taking “the plunge into self-generated green energy for your home. If you’ve always wanted to install solar panels on your roof,” the Pacifica Tribune points out, there’s not time like the present. That’s because the $5,000 upper limit is waived on such overhauls. The only caveat? “The (solar panel roofing) system must power your home itself,” and not just a part of it.
More information on what constitutes tax incentive-applicable energy star roofing can be found on the Environmental Protection Agency – U.S. Department of Energy Energy Star page. The site points out these additional, non-financial advantages of making the switch to green roofing:
- Because they reflect more of the sun’s rays, Energy Star qualified roof products “can lower roof surface temperature by up to 100°F, decreasing the amount of heat transferred into a building.”
- Energy Star qualified roof products can also lower air conditioning usage “and can reduce peak cooling demand by 10-15 percent.”
If a roof repair or replacement lies somewhere in your foreseeable future, you might want to start looking into your options right now. By choosing an energy-saving alternative when you redo your roof, you can take advantage of significant tax savings that may not be around forever. In so doing, you can substantially lower the overall cost of getting the job done. And you’ll be helping to preserve the environment in the process, too.
Tom Schlund is Projects Manager for Franciscus Roofing, a greater Cleveland, including Solon, roofing company experienced with roofing repair.
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