As a homeowner, getting projects done around the house gives you a great sense of accomplishment and helps to keep the value of your home high. If you spend your Saturday’s landscaping or power washing the driveway, you understand the pride that comes with a job well done. While your growing to-do list will probably cover most of the daily maintenance tasks that need to get done, there are some jobs that are best left up to the professionals. One of these is roofing maintenance. A lot can go wrong with a roof, most of which is difficult to see unless you’re a trained professional. Even if nothing is terribly wrong with your roof, it might be time for an upgrade. Getting a new roof installed has a number of benefits, but the biggest one is the increase in property value. In this article, we’ll answer one of the most frequently asked questions regarding new roofs: just how much value does a new roof add to your home?
Reasons to Install A New Roof
If you look at your roof and everything seems fine, you might not even consider getting a new roof. But the deterioration of your roof isn’t the only reason you should weigh your options. A new roof can improve your home’s appearance, give you a chance to upgrade roofing technology, increase your warranty length, solve any annoying problems, and improve your home’s property value.
1. Improved Your Home’s Appearance
Even if your roof doesn’t look like it’s about to fall off and cause destruction, a new roof will give you a huge upgrade on appearance. Today’s roofing materials are made in a variety of textures and colors, which give homeowners an opportunity to better complement their siding and landscaping.
2. Upgrade Roofing Technology
As energy efficiency continues to grow in importance, roofing materials have started to adapt. Now, there are plenty of asphalt shingles available on the market that help reflect solar heat and thus, improve the overall energy efficiency of your home.
3. Increase Warranty Length
A lot of older roofing warranties only lasted about 15-25 years. With the improvement in the technology and material of today’s asphalt, these warranties have gotten longer. If you’ve just moved into a new home, this is a great way to give you long-lasting peace of mind before any problems surface.
4. Solve Problems
If you’re already facing roofing problems, a new roof lets you fix everything at once. The more severe your roofing problems are, the more it makes sense to get a new roof. If you’re unsure about the current condition of your roof, get a professional roof inspection and go from there.
5. Improve Your Home’s Property Value
Finally, getting a new roof will improve your home’s property value by thousands of dollars. It increases aesthetic value alongside functional value and can help you sell your home with ease.
How Does Your Roof Affect Your Home’s Value?
To get a better understanding of how a roof improves your home’s property value, it’s important to look at a few factors. If you consider all of the things your roof does, it makes sense why it has such a big impact on the overall value of your home. Your roof is your home’s major insulator. It allows you to gain better control of your home’s energy efficiency and in turn, lowers the cost of your utilities. Your roof also protects you from the obvious—rain, wind, sleet, snow, hail, and more. It keeps you and your family, along with all of your belongings, safe regardless of what’s going on outside.
Your roof also impacts how your home looks from the outside. The foundation and bones of a house may be beautiful, but if it has a roof that’s degrading and falling apart, no one’s going to pay attention to anything else. This is problematic if you’re considering selling. It’s also problematic if you need a home inspection of any kind. Believe it or not, the health of your roof is one of the biggest factors in determining the overall value of your home.
All-in-all, a new roof will likely give you a return on investment of about 60-68%, depending on the condition of your old roof and quality of materials used.1 You’re not going to get 100% ROI, but that doesn’t mean that you shouldn’t consider it. A new roof will increase your home’s resale value by about $12,000 based on the national average.2 This is better than a lot of renovation projects or even home additions, so it’s worth considering.
Short-Term vs. Long-Term Roof Value
Something else you should consider is the short-term value of a new roof and the long-term value. As soon as you get a new roof, you’ll feel like you bought a new car. It will ultimately give your home a makeover and immediately increases the curb appeal and overall aesthetics. For some people, this alone is worth the investment. Having a sense of pride when you pull up to your home, host parties, or look up in the middle of yard work does wonders for our mental health. When we’re proud of where we live, we’re more likely to respect it and take care of it in other ways. This short-term value will continue to last well into the long-term benefits.
The long-term benefit of a new roof is the longevity of this feeling. Roofs are meant to last and today, with stronger materials and more aesthetic options, you’ll get to indulge in the beauty of your roof for 20 years or longer. You’ll also experience fewer problems and better energy costs, both of which will help you saved money on a month-by-month basis. If you know that you’re going to be selling your home in the future, a new roof now allows you to reap the benefits of both short-term and long-term aspects.
Should You Install a New Roof Right Before Selling Your Home?
If you’re about to sell your home, you’ll probably consider whether or not you should install a new roof. While it can be beneficial in certain circumstances, that’s not always the case. As we mentioned, your roof will likely increase the value of your home by around $12,000, but a new roof will cost more than that.
The Cost of a New Roof
The first thing you need to do is consider how much a new roof will cost. To do this, you have to research materials, get more information on the true size of your roof, and consider any roofing obstructions that you have (i.e., skylights or vents). If you’re working on a budget, asphalt shingles will be the lowest cost. If you want something more luxurious, you can expect to pay substantially more—usually thousands of dollars more. The larger your home’s roof is, the more money a new roof will cost. Materials are usually sold per square foot and a larger roof also requires more labor. If your roof has no obstructions, it will be cheaper as the labor is easier. If you have a lot of skylights, a steep roof, or a number of other obstructions, you’ll end up paying more.
The best way to get a better understanding on whether or not you should install a new roof right before selling your home is to talk to a professional roofing contractor. Getting an estimate before you put your house on the market will allow you to weigh your options during the selling process. If you have a roof that’s in horrible shape, it might not pass an inspection and a new roof might be a pre-requisite for many buyers. If your roof is only slightly unappealing to look at and passes inspection, you’ll have to consider whether or not you’re willing to lower your asking price to make up for the condition of the roof. Before you do anything though, talk to a professional roofing contractor like the ones at First Star Exteriors. We’ll help you walk through the costs of a new roof so you can better understand your specific return on investment.
If you’re interested in getting a new roof installed to help increase your home’s value, contact the professionals at First Star Exteriors today. At First Star Exteriors, we believe there’s a perfect balance between hands-on, personable treatment, quality of work, and speed of delivery. We take the time to understand your needs and communicate effectively from the first quote to the last nail being placed. To learn more about our roofing repair options or to get a quote from us today within 48 hours, contact us at (479) 267-4800 or fill out our contact form here.
Sources:
1 https://www.zillow.com/sellers-guide/should-i-replace-my-roof-before-selling/
