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2023 Roofing Budget: What to Expect?

Your facility's roof is often out of sight, out of mind. But keeping it out of your annual budget planning may cost you. Overlooked roof damage from inclement weather or aging may result in additional costs and consequences when you end up with roof leaks. To avoid that, make sure to stay proactive regarding the condition of your roof and allocate enough in your capital and operating expense budgets. How can you stay ahead of roof leaks? By educating yourself about your roof and planning accordingly. 

  1. Schedule a comprehensive roof evaluation - The first step to determining your 2023 roofing budget is a detailed roof evaluation by a reputable commercial roofing contractor with a proven track record. Initial water intrusion may go undetected for a long time for an untrained eye before it becomes a visible concern. A comprehensive roof evaluation will provide you with photographs, a written assessment, repair or replacement recommendations and budget numbers. All of this is key to staying on top of your roof's condition and addressing issues before they escalate. Timely repairs are more crucial than ever as the current materials shortage makes any roofing job more expensive. 
  2. Take a deeper look at your roof's history - Is your warranty still active? What type of warranty do you have? Do you need an extension? Discuss your options with your CentiMark roofing professional.
  3. Ask about our maintenance plans - Whether your roof is new or aging, regular preventative maintenance and cleaning are essential to extending its lifespan. Clearing out debris, unclogging drainage systems, removing vegetation growth and addressing minor repairs or deterioration before they escalate into a more significant issue will allow you to lower your roof's repair cost over time. Budgeting for a maintenance plan in 2023 will help you extend the life of your roof. 
  4. Keep an eye on weather forecasts - While the weather can be uncertain, you can look into local trends over the years and 2023 weather predictions from reputable sources. National Weather Service and Climate Prediction Center have several tools that may help you with your research, including Experimental Unofficial Long-Lead Forecasts. To stay informed regarding the current and upcoming hurricane season, you may want to take advantage of the latest updates and resources from the National Hurricane Center and National Oceanic and Atmospheric Administration. Inclement weather can put any roof to the test, from excessive wind to airborne debris and precipitation. Budgeting for roof emergencies is paramount.
  5. Roofing industry trends - Raw material shortages are still driving the price of roofing supplies up. It is crucial to be ready for material price increases. Factors like fuel prices and labor shortages may drastically affect roofing quotes depending on your location. Stay up to date with the NCRA Supply Chain Shortage Information page and ensure a contingency is included in your 2023 roofing budget.

With over 50 years of expertise and 95 offices from coast to coast, we are your local roofing contractor. We offer 24/7 emergency services, customized roofing solutions for replacement or repairs and preventative maintenance. We want to ensure that you are maximizing your investment when it comes to your facility‚Äôs roof. Need help establishing your 2023 roofing budget? Contact us!

cursor click Complete the form to your right and let's get your roof ready for whatever 2023 brings.

 

 


 

a roofer is putting on his safety gear

Roofing in North America: Where Do We Stand?

2022 has been quite a unique year to navigate for commercial roofers and their customers. As an industry, we started with massive backlogs caused by labor and material shortages due to the COVID-19 outbreaks. Roofing contractors were placing orders in fear of material shortages, driving material sales up 300% while the market was only experiencing 15% growth. Customers were faced with extensive lead times on roofing projects and often had to focus their strategy on repairs or coatings.

So, where do we stand now? A recent Quarterly Market Index Survey1 for reroofing (2022 Q2) by a coalition of industry trade associations, including manufacturers, contractors and consultants, shows a positive trend overall. 

Across all regions of the US and the majority of Canadian provinces, respondents reported general improvement in low-slope reroofing opportunities compared to 2021 Q2. However, there was an indication of some uncertainty in the steep-slope roofing market. Most of this feedback came from roofing contractors (80%) and some from roofing consultants (20%). Let's take a glance at those numbers:

Customer Inquiries:

  • 40% of survey participants reported an increase in customer inquiries.
  • 31% of participants indicated the volume of customer requests did not change
  • 29% of respondents noticed a decline in customer inquiries

Project Contracts:

  • 43% of participants indicated an increase in project contracts
  • 34% reported no change
  • 24% confirmed a decline  

How optimistic are the roofing industry professionals about the future? The responders were presented with a 0 to 100 grading scale to determine their outlook and expectations of what's to come. A score of 50 or above indicates optimism and growth, while 0-50 scores indicate a pessimistic view of the future. Let's look at those scores:

Customer Inquiries Index Score:

  • 61.6 for the low-slope reroofing market
  • 41.2 for the steep-slope
  • 50 for a blended low+steep slope

Project Contracts Index Score:

  • 66 for the low-slope reroofing market
  • 50 for the steep-slope
  • 51 for a blended low+steep slope

So it looks like Q2 has shown an improvement for the roofing industry and the backlogs are starting to ease. But we are not out of the woods yet. The costs of roofing projects are still rising, and this could be our most expensive year yet. Coldwell Banker Richard Ellis (CBRE), the world's largest real estate services and investment firm, has predicted a 14% YOY increase in US construction costs by the end of 20222. The financial factors driving that trend include inflation, labor shortages, supply chain issues, ongoing Covid-19 outbreaks and Russia's invasion of Ukraine. It is the most significant jump since 2007, when CBRE initiated the cost forecasts. The firm predicts the material deficit, extensive material delivery delays, labor shortages and scarcity of components will continue.

Nicolas McNamara, the Director of Cost Consultancy for CBRE, stated: "The construction industry thrives on predictability, but we continue to grapple this year with numerous challenges and volatility, making estimating and managing costs more difficult. Labor shortages and wage pressure -- combined with supply chain disruption -- have contributed to a sharp increase in costs. But demand for new projects remains strong. Understanding the levers moving construction costs, which are analyzed in this report, is key to navigating this challenging environment."

As a roofing customer, how can you maneuver through the uncertainty of this year and beyond? By being proactive:

  • Educate yourself about the condition of your existing roof through routine roof inspections and address all issues as soon as possible.
  • Schedule roof inspections after major inclement weather events to catch and repair any damage early.
  • Look into maintenance plans to extend the life of your roof.
  • Don't postpone roof repairs to prevent minor damage from growing into an expensive roofing job later.
  • If you are considering reroofing, look into the contractor's ability to deliver. Are they financially stable? Will the warranty cover both materials and labor? Do they have established partnerships with material manufacturers? These factors may drastically affect the overall cost of your project.

CentiMark is here to help you navigate the current roofing climate. We are a family business with over 50 years in commercial roofing, 95 locations from coast to coast and a large talent pool of more than 3500 associates. We focus on educating customers about their roofs to help them make the best decisions for their facility. Our highly trained crews and strong partnerships with manufacturers of roofing materials allow us to deliver consistent results and expertise every time, everywhere. Whether you are a small business or a nationwide corporation - we are here for all your roofing needs.

 

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References: 

 

1. "Trade Association Coalition Announces Q2 Findings from Market Index Survey for Reroofing,"  

National Roofing Contractors Association, Aug 5, 2022

https://www.nrca.net/press-room/press-release-archive/trade-association-announces-reroofing-market-index-survey-q2-findings

2. "Construction Costs Expected to Post Largest Increase in Years Due to Pressures From Both Supply and Demand Sides"

CBRE, August 24, 2022

https://www.cbre.com/press-releases/construction-costs-expected-to-post-largest-increase-in-years

 


 

hurricane on the coast - a palm bending under the wind

Rejuvenated Floors? Keep that Shine Lasting Longer.

Floor rejuvenation is an excellent, cost-efficient way to get your floors looking new and as safe as possible. But how can you preserve that new floor look longer? With proper cleaning and maintenance. Thankfully, commercial flooring systems are specifically designed to withstand heavy traffic and extensive cleaning. Still, there are a few tips you can follow to keep your floors in the best shape possible.

Polished concrete: a common flooring choice for many commercial facilities. It is durable, long-lasting and requires minimal maintenance. However, it is essential to clean and maintain your floors regularly. Contaminants such as dirt, rainwater, salt and other harsh chemicals may pose slip hazards and diminish the shine. 

  • Never attempt cleaning polished concrete floors with products that were not designed for them. High acidity cleaners like bleach or ammonia may chemically etch the surface and the new floor shine will be gone. A concrete floor's natural pH level is 9-11 and your cleaning solution should match it. Check out QuestMark's cleaners that you can easily order online. To take your polished shine to a new level, look into conditioners like QuestMark's DiamondQuest Ultra 15 or Ultra 30.
  • If you use a sweeper or scrubber, stick to the soft bristle brushes or pads while keeping the pressure on the lowest setting. Otherwise, you may scratch your floor over time and diminish the glossy look.
  • How to clean? Watch this quick video >>

For in-depth instructions and recommendations on cleaning and maintaining polished concrete floors, check out this article and QuestMark's Polished Concrete Guidelines brochure.

 

Urethane cement and resinous floors: a perfect solution for high-traffic areas and environments requiring extensive cleaning and disinfecting. Facilities like food processing plants, medical institutions, laboratories and commercial garages are most likely to install this type of floor. While urethane and resinous floors are well known for their extreme durability, they still require proper cleaning and care.

  • Discuss the best cleaning products to use with your flooring contractor. Your floor's resin is specifically formulated to match your facility's functions and needs. Therefore, you want your cleaning products to do the same.
  • Clean often and eliminate any spills immediately.
  • How to clean? Watch this quick video >>

For more information, check out QuestMark's complete Urethane and Resonius Cement Cleaning Guidelines and this cleaning and maintenance article.

 

When to clean your floors?

It is recommended to create a cleaning schedule for your floors that covers everything from dust-mopping and sweeping to deep cleaning and revitalization. Every facility is different and you want to consider factors like the volume of foot and forklift traffic, shift changes, advanced sanitation for Covid and exposure to chemicals. Clean up any spills immediately - they pose a slipping hazard and may cause discoloration.

 

Where to get commercial-grade floor cleaners, supplies and repair kits? 

You can order everything you need to successfully clean and maintain your facility's floor online at Questmark Online Shop. A few products we recommend looking into:

 

Congratulations on your just-like-new rejuvenated floors! We hope these tips and tricks will help you preserve the shine for a long time. If you have more questions or need help with your commercial floors, please don't hesitate to contact QuestMark's team. We offer floor maintenance and cleaning support for DIY products that includes on-site demonstrations. Those can help you test a solution before investing in it. If DIY is not what you are looking for, we are happy to discuss commercial cleaning plans and services that will fit with your business operations.

cursor clickComplete the form to your right to discuss your floor maintenance options.