Does a New Roof Increase Home Value?
There’s no denying it: a new roof looks really good to a potential buyer. Most homeowners greatly appreciate having a new roof over their head since it saves them the hassle of replacing it themselves.
Additionally, many new home buyers don’t have the extra money saved up to handle the roof replacement on top of the initial home purchase.
But does a new roof increase home value, and if so, how much value does a new roof add? Let’s dig into it.
How Replacing the Roof Increases Value
If your current roof is very old and shows signs of damage and decay, it’s guaranteed to decrease the value of your home when you go to sell. Most homeowners aren’t willing to buy a house that requires a major renovation project, which will drive down your potential bids.
In a situation where the roof has clearly seen better days, it’s always a good idea to replace it prior to listing.
Consider the following when trying to determine if replacing your roof will increase the value of your home:
- If the roof looks to be in great condition with no signs of leaking, or was recently upgraded, you can wait to determine if a replacement is necessary until after getting a home inspection.
- If the roof is visibly damaged (missing or curling shingles, staining, sagging roofline, etc.), have a roofing contractor conduct an inspection and give you their professional recommendation. A replacement may be the best course of action to increase the value of your home.
How to Maximize Your ROI on a New Roof
If you’ve determined that the best course of action is to replace your roof before listing your home, here are a few things you can do to help maximize that ROI:
Get it Done Professionally
How much does a new roof increase home value? That entirely depends on the quality of the work done. No matter how many Youtube videos you’ve watched or how many DIY projects you handle: a new roof shouldn’t be something you attempt yourself if you’re trying to maximize your ROI.
While you may save some money on labor upfront, you could end up doing a lot of damage, installing it incorrectly, you could end up doing a lot of damage to your roof or even yourself, all of which leads to a more expensive roof upgrade and a lot of problems you weren’t planning on!
Don’t Layer the Shingles
A proper roof replacement requires you to strip the roof down to its foundation. You can’t just slap a layer of new shingles on top of the old ones if you’re hoping to increase the ROI of your roof replacement.
It’s faster and cheaper, yes, but it can shorten the lifespan of your new roof up to 40 percent by trapping heat and adding unnecessary weight to your roof. It’s bad practice and a roofing inspector is likely to catch that, hurting you later in the sale.
Use Good Materials
The materials you choose for your roof upgrade will greatly impact how much value the new roof adds to your home. For example, metal roofing costs more than asphalt shingle roofing upfront, but it also adds much more value to your home due to its durability, longevity and energy efficiency, making these roofs more attractive to potential buyers.
Keep Up With Roof Maintenance
After your roof replacement is complete, it’s very important to keep that roof maintained throughout the selling process. A new roof won’t help to increase the value of your home or help your ROI if it ends up damaged before closing.
Ready to Increase Your Home’s Value?
Long Roofing offers a variety of roofing styles and materials that can not only boost your curb appeal, but your selling price, too. If you are in the market for a new roof, call or contact us online to set up a free consultation.
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*Subject to credit approval. Interest is billed during the promotional period but all interest is waived if the purchase amount is paid in full within 12 months. There are no required minimum monthly payments during the promotional period. Financing for GreenSky® consumer loan programs is provided by federally insured, equal opportunity lender banks. NMLS #1416362