Can A New Roof Increase Your Aurora Home’s Sale Price?
If you have lived through some giant hail storms to hit Aurora, you have seen how damaging hail can be. If you are ready to list your home, you have to wonder, Can a new roof increase your Aurora home’s sale price? With such a hot housing market, it’s a good time to start thinking about which things will increase the sale price of your home. The real estate market is changing quickly, so having a game plan will help expedite things. We have some data for you to help prioritize; keep reading!
A New Roof For Your Aurora Home Can Help Boost the Sale Price!
People might not always consider it initially; however, a roof replacement would provide a significant payback on investments concerning home improvement initiatives. High-quality roofing materials allow homeowners to save money on cooling costs while also increasing the home’s aesthetic appeal. However, the upfront costs of a complete roof replacement are disproportionately high compared to other typical home upgrades. A large hail storm or a wind event will change the economics instantly. After paying out on insurance premiums for many years, using the insurance claims process to replace your roof is not investing as much as it recuperates money. The cost of doing nothing might be $10,000-$15,000, whereas the deductible is usually $1,000-$1,500.
Purchasing a new roofing system is almost unheard of for Aurora residents, considering hail storms can cause a roof replacement in only 5-7 years.
According to First Star Exteriors, installing a new roof before listing your house will increase the closing price by $12,000. However, Aurora is in one of the heaviest hail storm-prone areas in the nation. This hail storm hit Aurora in June of 2018 and was captured on film by YouTuber Jason Persoff.
Aurora can receive some of the country’s most significant hail events and wind storms each year. As a result, new home buyers become wary when initiating a purchase contract only to have a home inspector note that the roof has some damage from hail or wind. Weather apps such as Hail Recon track storm data and can be used to identify recent storm dates during due diligence. The offer to buy your home could drop by $12,000-$15,000 if storm damage is consistent with a current storm date.
The data shows that replacing your roof before listing your home will significantly influence property values. In addition, the recent run-up in the real estate market has increased home values significantly, particularly housing markets of Denver and Aurora.
Asking if a new roof can increase your Aurora home’s sale price is unnecessary.We know the price will go up after a new roof is installed
Use this Remodel Calculator to see how home upgrades are doing in your area.
Roofing boosts the resale value of a house by roughly twelve thousand dollars on aggregate. Therefore, owners who seem to have new roofing done can anticipate repaying an equivalent of 62.9 percent of the installation cost via higher property value. Although not quite as popular as repainting a home in preparation to sell, replacing or repairing the roof system was on the list of things to do before listing the house for 16% of home sales in recent years, according to Zillow.
What all needs to be considered besides the roof when listing your home for sale in Colorado?
Roofing is often a tremendous advertising asset when selling your house. Investors value a roofing system since it saves them the headache of re-roofing, as the realtor will probably advise you. However, many purchasers, such as a complete roofing system, cannot handle the high costs upon purchasing a property.
To be cautious, a potential buyer might not bid on a house with an outdated or damaged roofing system. Installing a new roof doesn’t necessarily raise the price of the property in each marketplace. The overall state of the property market influences the profitability of all homes.
The shingles you choose may influence the profit you obtain on the roof replacement. Approaching neighborhood assessors and estate agents for help is the most outstanding choice for understanding the market circumstances you confront.
Although this is generally true, your unique market can deviate significantly from the area norm. However, there seems to be some geographical information that might help you. Consult a real estate professional within your region for details on how roofs function in a particular town and community. High-end roofing systems, such as Tilcor’s Stone Coated Steel or Boral’s Tile Roofing Products, add enormous curb appeal in expensive high-end neighborhoods like the Southlands of Aurora. Decorative shingles would complement some other elements utilized on the outside and inside of the property.
Can a new roof increase your Aurora home’s sale price? Yes, it most certainly can!
The Bottom Line is adding a new roofing system to your home in Aurora; before you list it for sale, it will increase the sale price.
There is no fixed rule through which a replacement roof can help you profit. There are a lot of different aspects involved.
Here are some quick tips for Finding The Best Roofing Company.
Find more insights about common roofing mistakes to avoid HERE.
To find out if your home has been damaged by hail, Contact Blue Sky Solar and Roofing.
Blue Sky Solar and Roofing is a solar and roofing restoration company with offices in Dallas, Texas, and Denver, Colorado. Blue Sky specializes in efficient solar panel system design and installation. Our roofing division is fully licensed and insured, specializing in environmentally conscious roofing systems. Providing each customer a single phone call warranty for everything on the roof!