If you’re looking for a new roof installation this year, you’ll likely notice the estimates are higher than you predicted. It is disappointing for all roofing companies; we have no option but to reflect manufacturing price hikes. We must raise our roof prices, but we can also help you understand what’s happening.
Unfortunately, it isn’t just shingles and roofing products whose prices are inflated; prices have gone up across the board of manufactured goods and raw materials.
Since 2021 inflation has increased to 6.8% in April 2022.
“Heightened consumer demand and challenges to the supply chain are some of the main factors contributing to higher prices.” – Statistics Canada / Rising Prices.
Statistics Canada’s survey shows that 32.1% of businesses expect problems obtaining products in early 2022. Over half of those businesses see these challenges continuing for the rest of 2022. Read more on the Statistics Canada website article.
Each roofing contractor must consider how much their roofing estimates can reflect the manufacturers’ increases that their business is experiencing.
Smaller companies must balance the price hikes with their requirement to obtain new business. An unknown company, if it internalizes too much of the price increases for the sake of new business, may eventually be faced with the need to cut corners.
In turn, the dilemma can lead to their eventual demise, meaning a difficult decision for a homeowner to navigate; if you get a great deal now, will the company be there in the future should any warranty issues or service matters arise?
Typically, larger companies can withstand and better balance price variations without fear of business dissolution. Any increases in roofing estimates reflect the manufacturers’ price hikes.
Simply call our office or fill out this form to request a free on-site visit from one of our professional consultants.
Mon - Fri: 9:00 AM to 5:00 PM
Sat: By appointment only
Sun: Closed