Recently, metal roofs have been rising above asphalt shingles and outshining this long-standing competitor in every way that matters. From longevity to personalization, the advantages of metal roof have inspired many asphalt buyers to make the change once and for all. If you are one of the fence-sitters who love the idea of a forever roof but feel hesitant about taking the leap, now it’s the time to make a decision. Switching to a metal roof is more important than ever, and here are a few reasons why:
A Hard Look at the Economy (and Your Wallet)
The U.S. has been climbing back from an economic recession following the burst of the infamous housing bubble back in 2007. Ever since then, those in the workforce have witnessed great job unrest and instability. While the Bureau of Labor Statistics confidently reported on May 6th that unemployment rate has remained unchanged at 5.0%, “the labor force participation rate has decreased to 62.8 percent, and the employment-population ratio edged down to 59.7 percent” in April 2016.
In light of a weak economy, rents have risen by 3.6% in August 2015, which was the fastest pace in 7 years. As for the cost-of-living (CPI), Forbes reports energy costs to comprise 8% to the overall weight of CPI, while housing costs carry a much bigger weight of 33%. Yet, with the CPI going up and inflation looming on the horizon, those in the workforce may not see much pay raise in 2016.
For homeowners who are trying to decrease their expenditure while still maintaining a comfortable living style, cutting down your housing and energy bills may be your best bet until the economy gets better.
Why Should I get a Metal Roof Now?
Buying a metal roof is a long-term investment with great returns. While your asphalt shingles and other roofing materials are getting you to spend more money on maintenance, repair, and energy bills, metal roofs are doing exactly the opposite. They are helping you to save more and spend less. Metal roofs are robust, flame retardant, and extremely strong. Because metal roofs can withstand inclement weathers and high winds traveling up to 140 miles per hour, they can help you to save plenty on home insurance.
According to Bob Vila, insurance companies are willing to give homeowners with a metal roof up to 35% discount because the roof is virtually impervious to wind, hail, and fire. In fact, metal roofs can easily last beyond 50 years with minimum upkeep, which is two to three times longer than a typical, well-maintained shingle roof.
More Savings in Your Pocket
In addition to saving you on insurance money, metal roofs also qualify for a 10% tax credit (up to $500). The Federal Tax Credits for Energy Efficiency, which expires on December 31, 2016, allows homeowners to renovate their homes and get paid for doing so. Throughout the year, the energy efficiency of metal roofs and their solar reflectance will also help you to reduce cooling costs, sometimes enabling you to save as much as 40%.
With the economy still climbing and the cost-of-living on the rise, switching to a metal roof is a solid investment decision that will help you to save many years down the road. Now it’s our turn to ask you the question, “Why haven’t you made the switch yet?”