How Is Inflation Impacting Roofing Companies Repair and Replacement Costs?
Are you worried about the rising cost of roofing?
Inflation is impacting roofing companies in several ways, and we’re here to break it down for you. Keep reading to learn more.
After reading this, you’ll know how inflation impacts roofing companies and what you can expect next for rising roofing costs.
How Does Inflation Impact Roofing Companies?
As inflation rises, the cost of nearly everything goes up.
This is especially true for roofing companies, which have seen a significant increase in the cost of materials and labor in recent years.
Inflation happens when the prices of services and goods increase over time.
In the United States, inflation has been relatively low in recent years, but that has all changed largely due to the Pandemic and its impact on the economy.
Roofing costs are impacted by inflation in two ways: the cost of materials and the cost of labor.
Cost of Materials
Common roofing materials, asphalt shingles, are made from petroleum products.
As the price of crude oil rises, so does the price of asphalt shingles.
Other roofing materials such as wood, metal, and tile are also subject to inflationary pressures.
Inflation has a ripple effect that impacts the whole chain of supplies and materials that eventually impact the cost of doing business.
This means that as crude oil prices increase, so does the cost of transportation, which raises the cost of shipping roofing materials.
And finally, it raises the cost of roofing itself.
This is just one example of how inflation impacts the bottom line for roofing companies.
And how it impacts the purchasing potential of people needing new roofs and roof maintenance.
Cost of Labor
The cost of labor is also impacted by inflation.
As the cost of living rises, so does the cost of labor.
This means that roofing companies must charge more for their services to keep up with the rising costs.
If you’re a roofing contractor, you may be feeling the squeeze of inflation more than most.
The cost of asphalt shingles, one of the most popular roofing materials, has gone up by double digits in the last year alone.
And with the cost of labor also on the rise, it’s becoming harder and harder to keep your prices competitive.
Do You Need a Roof Replacement but Are Not Sure You Can Afford It?
AZ Roofing Works is the company to call.
We are professionals in roof repair, replacement, and installation.
We have been in the business of roofing for over a decade, and we pride ourselves on our quality workmanship and customer service.
Our team of highly skilled professionals will work with you to find the best solution for your needs and budget.
We offer a free consultation so that we can assess your roof and provide you with a quote. Call us today at (602) 283-3383 or check out our website to schedule your appointment.
As a top roofing repair and replacement company, AZ Roofing Works is dedicated to providing quality materials, fair pricing, and excellent roof repair and roof replacement services to Arizona residents, regardless of the economy! Contact us online or call our office directly at (602) 283-3383.