If you are lucky enough to be surprised by the sounds of hammers early in the morning then your roof or that of your investment properties must have survived Hurricane Irma. And although the storm did nowhere near the damage of Hurricane Andrew back in 1992 it did pack enough punch to rip some tiles and shingles off enough to necessitate new roofs on many properties.
Of course the first step in replacing a roof is to deal with your insurance company and whatever money you can get out of the government. But the next step is to decide what type of roof you want to replace your new roof with. There are three major options and then a couple of options within each category. The most common is shingles because it is the least expensive, then comes tile and the newest style is metal.
But depending on where your property is located the least expensive option may not be the best for investment purposes. Let’s review each category from an investment perspective.
The main advantage here is the cost while the main disadvantage is the lack of aesthetic value to the property. They are not really ugly, in fact the newer styles actually look quite nice. But they are nowhere near as appealing as tile. If you talk to any roofer they will advise you to go with the “architecture” style of shingles which appear to lay on top one another whereas the cheaper option seem to lay next to one another. The difference in cost is minimal and besides looking s little nicer they supposedly will last longer and survive higher wind speeds. So shingles are a good low cost option however you should only consider them if the majority of homes in the area of the property have shingles because if not you will be devaluing your property and your rental income will suffer.
In South Florida it is very common to see Spanish style terra-cotta (orange) tile roofs just as they are found in tropical climates around the world. They add a very nice finishing touch to the home and increase the curb appeal and overall value of the property. The downside is that they cost around 75% more. If the average shingle roof costs $10,000 then the average tile is around $17,500. However as in most things in life you get what you pay for. Depending on the neighborhood a tile roof could bring in anywhere from $100 to a few hundred dollars more per month in rent then a shingle roof. Since that can add up to a few thousand dollars a year and a roof lasts around 20-30 years it is easy to see why it could make good financial sense to spend the money on a tile roof upfront.
Clay and Concrete are the two types of tile that you can get and while clay costs a bit more it has three key advantages over concrete and they all have to do with looks. First it looks nicer than concrete because it is smoother since it is fired in an oven instead of poured like concrete. Next it doesn’t get as dirty as fast as concrete does again because of the smoother surface. And finally and perhaps most importantly the color of clay tiles doesn’t fade over time like concrete does. So if you’re in this for the long-haul like most of you should be then spend a few extra bucks on clay.
Metal is the newest style of roof it is much more popular in the islands or in very modern homes. It just doesn’t work right and most neighborhoods that are predominately tile or shingle. That being said it is supposed to be incredibly durable and require the least amount of maintenance. To be honest We are not even sure how the price compares but have heard that it is a bit cheaper than concrete perhaps comparable to shingle the reason we don’t know is because it is just not that common and we would definitely not recommend it unless other homes in the area have it or the home is very modern.
We hope that helped explain roofs a little better if you are looking to make a purchase or if you have any additional questions we would be happy to give you some free advice you can call us at anytime at 305-517-3900.
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