If you’re looking to sell your home, you may wonder, “Does a new roof increase home value?”
A new roof typically gives homeowners a return on investment of about 20% or more. Based on the average national cost of a new roof of $10,000, the return on investment is $12,000, but this amount will be more for a larger roof.
The National Association of the Remodeling Industry reports that a new roof can increase a home’s resale value by 109%. The typical range for a new roof is $8,500 to $14,000. In this case, new roofing can give homeowners a return on investment of at least 9%.
Benefits of Roof Replacement
The average homeowner may not think about his home’s roof, but the condition and age of your home’s roof can affect the resale value of your home. A full roof replacement has many benefits when replacing shingles and selling your home including:
Curb Appeal
They say you can’t judge a book by its cover, but houses are frequently evaluated based on their outward appearance or curb appeal. Any real estate agent will tell you curb appeal is essential to selling your home at a higher price. A roof in poor condition will send buyers running. Replacing missing shingles will make your home more attractive to potential buyers because damaged or old shingles are at greater risk for leaks that will harm the structural stability of your home.
Don’t let an old or sagging roof make your home hard to sell. Real estate agents recommend a total roof replacement to increase your home value and a faster home sale.
Energy Efficiency
Your choice of a new roof can affect the overall energy efficiency of your home, energy costs, and your home value. Installing a cool roof could be mandatory, depending on where you live. New shingles that reflect solar heat instead of trap heat for energy efficiency can reduce cooling costs and increase your home value.
Higher Offers
While a new roof can be expensive, you’ll earn more when selling your home. Buyers will steer clear of a house with an older roof since they know that roof will have a limited life span. When you have a new roof, your home will have a higher appraisal value.
Faster Selling Time
A new roof will make the home’s exterior more attractive, which will help it sell more quickly. Home improvements such as a new roof are selling points since many buyers will see those changes as maintenance and improvements they will not have to do themselves.
Roof Replacement Options
You may be considering a roof replacement to get the full asking price for your home. Long-term roof replacement options include these roofing materials:
Asphalt Shingles
Affordable, durable, and requiring minimal maintenance, an asphalt shingle roof covers about 90% of U.S. homes. Asphalt coats the fiberglass shingle, and ceramic granules make the individual shingles water-resistant.
Advantages to a new asphalt shingle roof include affordability and easy installation. Disadvantages to asphalt shingles are that their color fades with sun exposure, and their lifespan is about 30 years or less.
Wood Shingles
You don’t need to use asphalt shingles for your new roof. Other shingles can include wood, which is an attractive choice for homes in dry climates, but these roofs can be higher in maintenance and are susceptible to water damage. Wood roofing materials are not a good option for areas prone to wet weather or wildfires. Cedar shake roofing averages $5 to $7 per square foot.
Slate Roofs
These incredibly durable shingles, made from stone, can have a lifespan of 100 years or longer. Fireproof and resistant to wind and impact from falling tree branches, slate shingles are low maintenance but might need extra structural support if there is too much weight if you layer shingles.
Metal Roofs
Metal roofing can be a durable and attractive replacement for an existing roof. Choosing a metal roof has become more popular since metal is affordable and low maintenance. Metal roofs can last up to 80 years. A metal roof can be a shingle replacement since it’s available in individual shingles and sheets.
Tile Roofs
Clay tiles are one of the world’s most popular roofing materials since tiles are low maintenance, durable, beautiful, and can help regulate temperatures inside the home. A popular roofing material for thousands of years, tile is often seen in warm-weather states such as Florida, California, and Arizona.
Roof Repair
Consider a partial re-roofing if your roof doesn’t need a complete replacement. Replacing parts of a roof can be more economical than a tear-off roof replacement. A skilled roofing contractor can match your roofing material, making it look like a new roof for less.
Talk to a roofing contractor to see which type of roofing will work best for your property. Choosing the right materials is essential for homes with a steep roof or uneven slope.
Key Roofing Facts
Does a new roof increase home value? Will a new roof affect the selling price of my home? Can a new roof increase buyers’ interest? Once you see your new roof installed, you’ll know the answer to those questions is yes.
A new roof will increase the short-term value of your home on the market since it will add to the beauty of your home’s exterior while protecting its structural integrity. When buyers find out your house has a new roof, they’ll meet your asking price or make a higher bid since they’ll know roofing won’t be a concern.
Contact a professional roofing service to have your roof inspected as part of the home-selling process. You can learn which materials are best for your budget and property and schedule the replacement of part or all of your older roof. Your investment is likely to be outpaced by the rise in property value and selling price.
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