Does a New Roof Increase Home Value?Published on Thursday December 15, 2022
As a homeowner, it’s important to know just how much a new roof can increase your home’s value. Even if you aren’t planning on selling your home any time soon, you should always keep a pulse on the potential ROI of a roof replacement and any other major home improvements.
Most home buyers greatly appreciate having a new roof over their heads 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.
If you’re wondering if a new roof will increase home value —and if so, how much? — then you’ve come to the right place. Here’s some insight on the potential ROI of a roof replacement from the roofing experts at Long Roofing, so you know exactly what decisions to make when it comes to your roof replacement.
Will a New Roof Increase Home Value?
In many situations, the answer to, “will a new roof increase home value?” is a resounding “Yes!” In other situations, especially if the roof is on the newer side or it’s been well maintained, then a new roof may not make that big of a difference in increasing your home value.
If your current roof is very old and shows signs of damage and decay, it’s almost guaranteed to decrease the value of your home. Most homeowners aren’t willing to buy a house that requires a major renovation project — such as a brand new roof — 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 before listing. It makes your home safer, more energy efficient, and more attractive to buyers.
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 has recently been 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 Much Does a New Roof Increase Home Value?
How much a roof replacement increases home value depends on the quality of your roof before the replacement and the quality of your roof after the replacement. Working with a licensed, skilled roofing contractor is the best way to ensure a positive ROI on a roof replacement — and to give you peace of mind throughout the process.
A new roof can help you get more bids for your full asking price, lower your time on the market, and increase the smoothness of the negotiation process. Ultimately, the ROI of your roof replacement depends on your home, the market in your area, the type of roof you choose, and the quality of your contractor’s work.
If you’re wondering if a metal roof increases value of your home, then reach out to our team of professionals today to discuss the different roofing materials and their typical ROI.
How to Maximize Your ROI on a Roof Replacement
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 the ROI on your new roof.
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 finished DIY projects under your belt, 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, all of which leads to a more expensive roof replacement or a lower asking price for your home.
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 by 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 estimate.
Interested in Long Home Products?
See our special offers now.