Does Replacing Your Roof Add Value To Your Home?
Renovation projects to your home are a great way to boost the value and increase the listing price of your home.
When thinking of renovations projects, many people want to redo their kitchen, bathroom, or other interior projects.
However, many exterior upgrades provide a much higher return on investment (ROI).
A new roof appeals most to new home buyers and can add a tremendous amount of value to the home.
A new roof is more appealing than new windows, siding, or garage doors.
Installing a new roof provides everything from a new warranty and enhanced curb appeal to improved energy efficiency and lower utility bills.
A new roof, and sometimes even a roof repair, can be a powerful marketing tool when you're trying to sell your home.
Buyers appreciate a new roof because they know it will save them the hassle of a re-roof.
In the article below, we will discuss how a new roof can add value to your home.
When Is The Best Time For A Roof Replacement?
The answer to this question depends on various factors.
For example, an asphalt shingle roof will typically need to be replaced before a metal roof.
The installation process, extreme weather exposure, and commitment to regular maintenance will also affect when you should replace your roof.
The lifespan of asphalt shingles, which are the most popular option for today's homeowners, is around 20-30 years.
A damaged roof or one in poor condition can negatively impact your curb appeal and flag issues for a home inspector.
Here are a few things you should watch out for that may tell you it's time for a replacement:
- Broken, Cracked, or Curling Shingles
- Torn Flashing
- Dried Out Caulking
- Sunlight Through the Attic
- Water Leaks
- Water Stains on Ceiling
- Increased Energy Expenses
- Missing Shingles
- Granules in the Gutter
- Mold, Moss or Algae Growth
- Ice Dams
How Does Your Roof Affect Your Home's Value?
Everyone who owns a home expects their roof to protect themselves and their valuables from the elements.
The roof of your home is also a major insulator, and if you have newer, high-tech roofing materials, the summer heat can be reflected off of your roof instead of absorbed into it.
This keeps your home comfortable and your energy bills low because you won't use air conditioning as much.
Aside from its functionality, a new roof looks great and enhances curb appeal, even if all you do is install new asphalt shingles.
If you're selling your home, the first thing a home inspector will check is your roof because the health of your roof is a significant factor in determining a home's value.
If you're selling your home and your roof needs repairs, it can negatively affect the property's appraisal value.
It could even put your house in the fixer-upper category and ultimately kill a sale.
Will A New Roof Help Sell Your Home?
Many real estate agents value a new roof as an effective selling tool.
Buyers are attracted to homes with new roofs because it means they won't have to pay for a replacement or major repairs themselves.
Even if a buyer doesn't want to pay more for a new roof, they will almost always choose to buy a house with a new roof instead of one with an older roof.
Even a simple roof repair can help your house sell faster and give buyers added peace of mind.
Curb appeal often gets buyers interested in a home.
Home renovations that improve curb appeal are among the best investments to increase home value.
First impressions are critical, and buyers develop faster emotional connections with homes that impress them right away.
Your roof makes up about 40% of the visual space on the exterior of your home.
This makes it a major influence on the curb appeal of your house.
If your shingles are an odd color, choosing a flattering shade of new asphalt shingles may make all the difference in a potential buyer's perspective on your home.
A potential homeowner also wants a well-maintained house, and they will use the exterior appearance of a house to judge how well it's been taken care of.
Even if it's not a true reflection of the care that has been given to the house, buyers assume that your roof reflects the energy and investment you've put into the rest of the home.
Curious what all is involved in a roof replacement? Check out our recent blog: What's Involved in a Roof Replacement?
ROI On Roof Replacements
There are obvious benefits to replacing your roof before listing it.
However, there are also situations where it may not yield as high of a return on investment (ROI).
This is due to various factors, including market conditions and the original condition of your house.
Type And Quality
The biggest factor to consider when calculating the ROI of a roof replacement is its current condition.
If you need extensive repairs or a total replacement, a roof replacement will significantly impact the value of your house.
But if you have a quality roof with no known issues, a roof replacement won't boost the value of your home enough to make a significant impact on your home's value.
The roofing materials you choose can also make a difference in your long-term roof value.
- Asphalt shingles last between 25-50 years if they are adequately cared for.
- Well-maintained metal roofing can last 70+ years. Painted metal roofs last 40-50 years.
- A synthetic slate roof can last 100+ years if they are properly maintained.
Working with a real estate agent or roofing company can help you determine which roofing material will deliver the best ROI when you sell your home.
The housing market in your area has a significant impact on the value of home renovations.
Depending on where you live, the ROI of certain home renovation projects will fluctuate.
Buyers are attracted to specific neighborhoods and areas and not individual homes, so a big mistake homeowners often make is improving their house above the area standard.
These homes may get more attention from prospective home buyers than their counterparts, but that attention doesn't always equate to sales or a higher closing price.
You should get advice and roofing tips from a local appraiser or real estate agent familiar with the local market and how it responds to renovation projects.
Property owners are usually legally required to disclose certain information about the property that could negatively impact its value.
That means if you have a leaky roof, you will be required to disclose that information.
Check your state and local laws about your disclosure requirements because, in some areas, roofing disclosures are legally mandatory.
This is a considerate thing to do, and it can save you from legal action being taken against you if the new homeowners are surprised by roof damage.
Contact Your Local Roofing Company
Contact a professional roofing contractor if you think it's time to replace your current roof and add value to your home.
Local roofing experts can complete your roofing project and take a roof in poor condition and make it brand new.
TK Roofing and Gutters has been serving the communities of Northeast Ohio for over 15 years, and they're committed to providing quality roofing services to their local Ohio communities.
Whether you need a complete roof replacement, major or minor repairs, or a roof inspection before a sale, the local roofers at TK Roofing and Gutters will make sure your roofing job is done the right way the first time.
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