As a homeowner, home improvements are almost always a smart financial move. One renovation project that can significantly enhance both functionality and aesthetic appeal is a new roof.
Before jumping to call a professional roofer or renovation company to replace your current roof, it’s crucial to consider how much value a new roof actually adds. Does a new roof increase home value, or is it just another added expense?
In this article, we’ll take an in-depth look at the impact a new roof can have on your home’s market value and what you need to know before making this costly investment.
How a New Roof Impacts Home Value
A new roof is a significant investment that provides a lot of benefit. For one, it’s literally the roof over your head.
One of the primary benefits is the massive impact it can have on your home’s overall market value. There are a number of ways a new roof can positively affect property value.
Enhanced Curb Appeal
A new roof can instantly boost home curb appeal and make it stand out from other homes within your neighborhood. A sagging roof or damaged shingles not only threaten your safety, but also decreases the aesthetic appeal of your home’s exterior. A beautiful and well-maintained roof can create a positive first impression on potential buyers and generate interest in your property.
Improved Energy Efficiency
A damaged or old roof can increase energy costs exponentially, by allowing air leaks. You can improve energy efficiency and save money on monthly bills by replacing an old or weathered shingle roof. This is especially true if you choose energy-efficient roofing material such as metal, tile, or asphalt shingles that reflect heat and reduce cooling costs.
A new roof can last up to 25-50 years, depending on the material used. This longer lifespan can add long-term value to your property, and provide peace of mind to future buyers knowing they won’t have to replace the roof for several decades – perhaps never at all.
Higher Overall Resale Value
A new roof can increase the resale value of your home, making it more attractive to potential buyers. Based on prior year national averages, a new roof can increase a home’s resale value by up to $15,247.
While some people might not see a full return on their investment, using a reliable and affordable company like Sundance LLC ensures you get a high-quality roof and closer to a full return on your initial investment with asphalt shingles. Buyers are much more likely to consider a home that requires fewer repairs and maintenance.
Types of Roofing Materials To Consider
There are various types of roofing materials to consider for your roof remodeling project. Each material has its own unique benefits.
Asphalt Shingles: Asphalt shingles are the most popular and cost-effective roofing option. They can last upwards of 25 years, and come in various colors and styles. A new asphalt shingle roof can increase a home’s value by up to $15,000, but may cost close to $20,000 depending on the contractor.
Metal Roofing: Metal roofs are the most durable and can last up to 50 years. They are also energy-efficient and can reduce heating and cooling costs by a large margin. Metal roof replacement can increase a home’s value by up to $30,000.
Tile Roofing: Tile roofing is fire-resistant and long-lasting, with a lifespan of up to 100 years. It’s also available in various colors and styles, making it a popular choice for homeowners. Tile roofing can increase a home’s value by up to $25,000.
Slate Roofing: Slate roofing is one of the most durable and long-lasting roofing materials, with a lifespan of up to 150 years. It’s also fire-resistant and low-maintenance. Slate roofing can increase a home’s value by up to $30,000. It is more expensive, however.
Is It Worth Putting a New Roof on a House Before Selling?
Replacing shingles or putting a new roof on a house before selling can be a wise decision for homeowners. A new roof can enhance the appeal of the home’s exterior and increase resale value, generating a higher return on investment.
However, it may not be worth the investment for the average homeowner. This is especially true if you’re working with a limited budget. It’s also not worthwhile for those in a slow real estate market, where they may not recoup the full cost of investment on a full roof replacement.
Ultimately, you should weigh the potential benefits against the cost of replacing your roof before deciding. If you genuinely need a roof replacement, that’s another story all together!
Does an Old Roof Affect Appraisal?
Yes, an old roof can affect the appraisal value of a home.
Appraisers consider the condition of a home’s roof system when determining its value. An old or damaged roof can decrease overall property value and may result in a lower appraisal.
Appraisers may also consider the remaining lifespan of the roof and the potential cost of repairs or replacement when evaluating its impact on the property’s value.
Increase Home Value With Sundance Kitchen, Baths, & Exteriors
Replacing your existing roof is a fantastic investment for homeowners who want to increase the pre-existing value of their homes. A new roof can enhance curb appeal, improve energy efficiency, increase durability, protect your home, and net a higher resale value.
Sundance Kitchen, Baths, & Exteriors is one of the only contractors servicing Maryland that offer a GAF Weather Stopper Plus Lifetime Warranty, which covers the roof against weather damage. This is transferable to new owners, and the new owner would be covered for the duration of the warranty. This GAF certification ensures you and any potential future homeowner get the best value on your new roof.
If you’re a homeowner considering a new roof installation, Sundance Kitchen, Baths, & Exteriors offers a streamlined roof installation by accredited professionals. Backed by years of experience in the roofing industry, Sundance offers reliable and high-quality roof replacement services.
Enjoy the benefits of a new roofing system by contacting Sundance today to schedule a hassle-free roofing consultation! Get a free and personalized estimate!