How much to set aside for a new roof?

Question

I am analyzing a fix and flip property in the Hampton Roads, Virginia area.  I went to see the property and while I think 80k renovations to turn this property around is reasonable, it needs a new roof.  In looking at the roof (I'm not a roofing expert) I know it will need new shingles, but there is also some wood rotting that I is visible from the outside, so I am hesitant that the frame under the shingles are also compromised.  While I know prices will vary by market, does anyone have any idea of how much extra I should plan for the possibility of a new frame?  Thanks for any and all input!

Jeremy England · Answer

Its market dependant but I just got two quotes for a 23 square roof for 30 yr, tear off and replace, flashing etc 5200 and 5700

Both outfits charge an extra 65 per sheet for new decking.

This is about twice as much as I was payng when I was building houses 10 years ago.  So I went over budget a bit on this deal.

Jan Erik Neun · Answer

I'm in the area and paying ~$240/square for 30 year shingles and $45 for each 4x8 sheet of plywood. Includes shingle rip off, new felt, ice and water shield, etc.

Other things add a bit but plan to replace the boots, reflash the chimney, etc. Well known company. Not Joe-I-work-on-roofs-on-weekends. ;)

Wayne Brooks · Answer

Inspect it from the attic.

Aaron K. · Answer

It depends on the type of roof comp, tile, concrete, metal.  But at a minimum I'd set aside $10,000 and depending on the size and type of roof it could be closer to $20,000

Christa Kirby · Answer

Jan Erik - Mind sharing your roofer?

How much to set aside for a new roof?

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