If you’re looking to sell your home or just want to increase its value, replacing your roof is one way to ensure success. Replacing your roof not only adds value to your home, it also increases the aesthetic appeal and makes it more visually appetizing to passersby and guests. In some cases, it’s legally required to disclose any known leaks or other issues with your roof before selling your house, so it’s even more important to make sure you’re keeping up with it and replacing it when needed.
Here are five reasons why a new and improved roof can add value to your home.
1. Longer-lasting
In general, asphalt shingle roofs last up to 25-30 years. On the other hand, clay tiles may last for up to 100 years. Every type of roof has a different lifespan, but some are more prone to cracking, falling off, or causing leaks. Replacing your roof before it’s too late can not only ease future headaches for you, it also increases your home’s value. Because potential buyers look for longevity in a new home, having a new roof will instantly pique their interest. And if you’re not looking to sell your home, replacing your roof is a practical, safe, and visually appealing choice that will ensure it continues to last.
2. More curbside appeal
Speaking of visual appeal, everyone is sure to be impressed when they see a brand-new roof on your home. In fact, having a nice-looking, recently fixed or replaced roof can even make people feel more comfortable in your home.
3. Better roof and attic ventilation
When a roof is replaced, it often comes with an inspection to ensure that air is being properly ventilated. Suitable ventilation increases your home’s energy efficiency and helps your roof last longer. Having your attic ventilation inspected at the same time is a nice complement and can help with climate control in your home.
4. More likely to sell your home
No one wants to deal with repairing or replacing a roof immediately after buying a new house, especially since the process can easily cost $20,000 or more. By fixing the roof beforehand, you’re increasing both the value of your home and your chances of selling for a higher price.
5. Has environmentally-friendly potential
A new roof makes it easier to install additions such as solar panels, which ultimately reduce the cost of electricity and are better for the environment. Solar panels are a hot topic these days, so they can also help increase your home’s value and protect your roof from the elements for decades.
Getting a new roof is as cost-effective as most other major remodeling projects, such as a replacing a backyard patio, and can add just as much or more value to your home. That means a roof installation has a good return on investment (ROI), usually around 68% but with the potential to reach 109%.
If you want to make the most out of your new roof and possibly turn a profit, here are four important factors to consider.
1. The condition of your current roof
Don’t pay for a new roof if it’s only five years old and has no issues. Instead, you can remodel another area of your home, such as the kitchen or master bathroom. In assessing the condition of your current roof, you can decide whether or not it’s worth it to get a new one, and if it’s really worth the cost.
2. Market conditions
Every home renovation is affected by the current market, including roof remodeling. It’s important to pay attention to market conditions if you plan to sell your home after purchasing a new roof, as it may not increase your home’s value if the market conditions don’t match up.
3. Your neighbors’ roofs
The look of the neighborhood can be just as important as the look of the home itself. If you purchase high-end shingles while your neighbors still have their original roofs, the value of your home won’t go up as much as you might’ve hoped. In contrast, if you live in a more modernized or upscale neighborhood, updating your roof can go a long way in increasing your home’s value.
4. The color of your current and new roof
Your roof may be only 10 years old but have a funky or unusual color that may be off-putting to potential buyers. In this case, it might be beneficial to replace your roof instead of losing possible interest just because of the way it looks, even if there is nothing inherently wrong with it.
All in all, renovating or replacing your roof is a unique selling point that is sure to interest guests and potential buyers alike. If you’re looking to increase the value of your home or to prepare it for the market, getting a new roof is certainly something to consider.
