How Much Does a New Roof Cost?
Like any big expense, figuring the cost of roof replacement, in Sterling, Ft. Morgan, or Aurora Colorado may seem complex, confusing and stressful. But at Elements Roofing, part of our job is to make sure getting an estimate on the cost of your new roof is as easy and stress-free as possible.
Call 970-522-7636 for a free new roof cost estimate.
The first step in determining your new roof cost is to establish the outlines of the job. Once you call us, we’ll come to your home to put together the actual quote (unlike some big roofing contractors that try to do the entire process without actually seeing what the site looks like).
This is part of our No Hidden Costs pledge. Nobody likes a surprise when it comes to big ticket items on something as important as the cost of roof replacement. We strive for total transparency when it comes to helping you determine how much does a new roof cost…
We’ll work closely with you to determine what type of roof you have now, how large your home is, how accessible your property is, and how easy it is to get onto your roof.
Once we’ve determined the answers to those questions, we figure materials. This cost can vary quite a bit depending on what type of shingles you choose, if we need to replace the roof decking or underlayment, and how many squares of shingles we’ll need to complete the project. We’ll work closely with you to select materials that are cost effective, that improve your home’s curb appeal for years to come, and that have a solid warranty.
We account for labor costs in our free roof quotes as well.
The most important thing is to not put off getting started if you think you have an issue. We understand that roofing work can be expensive, but here’s the deal – the longer you wait, the higher your costs are going to be.
Do You Need a New Roof Cost Quote?
- Can you see damaged or missing shingles?
- Is there water damage to your walls?
- Is there obvious water damage in your attic?
- Has there been a recent hailstorm?
- Has it been particularly windy?
- Is your roof approaching its predicted lifespan?
- Do you see curling or lifting shingles?
- Do you have dry or rotted caulk or damaged flashing?
- Do you see mold in your home?
Average Roof Replacement Cost
If you want a ballpark figure for what your new roof cost might be, it can be helpful to know what the average roof cost in Colorado is, and how it’s determined.
Keep this in mind when thinking about average cost of roof replacement: not all roofs are created equal. And not every roofer will charge the same prices. When you ask around to get the cost of a new roof – which we encourage you to do – you’re going to find some companies charging quite a bit more and some charging a lot less for what is supposedly the same thing.
Our mission when it comes to cost is fairness. We will always give you a fair price for exceptional customer service and outstanding workmanship.
To understand the average cost of roof replacement, you need a little bit of information first. The first step is to get a quick and dirty idea of your roof’s square footage. To figure this (roughly), just take the interior square footage of your home, and add 20% to it. This should account for overhangs and slope.
Then take the square footage of your roof and divide it by 100 to determine the number of “squares,” of shingles it will take to cover your roof. One roofing square covers a 10 x 10 area, or 100 square feet.
In Colorado, the average roof replacement cost for architectural asphalt shingles is about $213 / square if you don’t have to replace the decking. For a full tear-off of the roof, including the decking, the average cost is about $575 / square.
So an “average,” sized home of 2000 interior square feet has a roof covering about 2400 square feet, or 24 squares. At $213 / square, that makes the average roof replacement cost just over $5000 in Colorado. Including removing the decking, the average cost is $13,800. So you can roughly say that the cost of a new roof in Colorado is between $5000 and $14,000.
Of course, we’re not talking about an “average,” house. We’re talking about your home! So we’ll come out to inspect your roof and take measurements in person. Then, we’ll speak with you to get a feel for your family’s and home’s specific situation and needs, and recommend shingles to meet those needs.
Nailing down the average roof replacement cost will hopefully give you a little protection against sticker shock when you see the actual roof replacement cost estimate we put together for you. But remember, this is only a guesstimate based on over 10 years of estimating experience.
Other Factors That Impact the Cost of a New Roof
Roof Pitch – In construction, pitch means steepness. A steeper roof is harder to work on: more labor intensive, slower, and more dangerous. Some roofs will require additional safety measures, which can also slow the process somewhat.
Roof Height – Like pitch, a particularly tall roof will also add money to your roof replacement cost. Again, a taller roof is more dangerous, requires more safety measures, and slows things down, all of which increase labor costs.
Complexity – A gable roof is less labor intensive than a hip roof, because it’s just easier to work on. Hip roofs have more valleys to cut and flash, more ridge caps to install and generally take more materials.
Insurance – Finally, we work with your insurer on roof insurance claims to determine the cost of your roof and ensure that you get the best deal possible for your situation. This cooperation helps to make the process of getting your roof quote easier, less stressful, and more convenient for you.
Materials & Workmanship Warranty
Finally, the last factor in your decision might be our 5-Year Workmanship Warranty. It’s simply one of the best in the area, and you can rest easy knowing that I’ll fulfill the terms with few questions asked. Elements is a local roof company, so your satisfaction is key to our reputation!
In the unlikely event that you have roof damage that is not related to storm, wind or hail, but due to a flaw in our workmanship, we’ll come back to restore it.
Roof Financing Options
Paying for Your New Roof
Once you’ve gotten multiple quotes, nailed down your final cost of roof replacement, and hired a roofing contractor it’s time to figure out how to pay for your new roof.
First off, as we mentioned above, you should check with your insurance company to find out if they will cover a portion of the cost of the new roof. If your replacement is due to wind or hail damage, you may be able to file a claim and receive some reimbursement for your roof.
If not, your next move is to look at your home warranty. If your damage is covered in the warranty, your only out of pocket expense should be a service fee to file the claim.
If your insurance doesn’t cover the cost, and you don’t have a home warranty, it’s time to look into roof financing options.
On the assumption that you don’t have enough cash on hand to cover the full cost of a new roof, you still have some options to explore.
Home Equity Loan
A home equity loan allows you to borrow cash against the value of your home. It’s a new loan, separate from your mortgage. The interest rate is usually lower than your credit cards or personal loan. If you go with this method of financing, the drawback is that if you default on the loan, you could lose your home.
Cash Out Refinance
Another way to take money against your home equity is a cash out refinance, where you refi your mortgage with a new, hopefully lower, interest rate, but take out more than you need to pay off the mortgage. The overage goes into your pocket, and you can use it to pay for your new roof.
FHA Title I Loan
If you don’t have enough equity in your home to borrow against it, you may be eligible for an FHA Loan. This is a fixed-rate loan that’s insured by the government and is designed to finance repairs that improve a home’s livability.
To quality you need to have a debt-to-income ratio of 45% or lower, and if the loan is more than $7500, you’ll need to secure it with a deed of trust or put your mortgage up against it. Again, if you default, your home is on the line.
This is probably your least-best option for roof financing, because the interest rate will be so high. That’s because you don’t put up any collateral against the loan, but if you have excellent credit, you may still get a good rate. You pay the loan back in monthly installments.
This is the last resort. Because APRs are so high – over 16% – a credit card is the most expensive way to borrow the money you need for the roof. If you don’t have any other options, and the estimate is reasonable, you may be able to charge the cost of the roof to a credit card, then move the balance to a balance transfer card, which usually offer an introductory promotional rate of 0%. If you can pay off the balance within the promotional period (usually 12 to 21 months), this may be a decent workaround.
Bottom line is, you’re better off putting some money away now for that rainy day, but if that’s not an option for you currently, you still have a few roof financing options.
Call 970-522-7636 today for a free quote and to get started on your new roof!