Does a New Roof Add Value to My Home?

Installing a new roof on your home is a significant investment that can pay off when it comes time to sell. But does a new roof really add value to your home? As with most home improvements, the answer is: it depends. Here are some factors to consider when determining if a new roof will increase your home’s value. One key question is: does a new roof add value to my home? The condition of your current roof, roof age, materials used, impact on curb appeal, and other aspects come into play when deciding if a roof replacement is worthwhile.

How Much Does a New Roof Cost?

The cost of a new roof can range dramatically based on the size and pitch of your roof, materials used, and any repairs needed to the roof deck and flashing. On average, a new asphalt shingle roof costs $6,000-12,000 while more premium materials like slate or metal can run you $10,000-$25,000 or more. The good news is that most types of new roofs come with warranties of 20-50 years for materials and workmanship, so you likely won’t need to replace it again in your lifetime.

What is the Condition of Your Current Roof?

If your roof is nearing the end of its useful life or already actively leaking and causing damage, a new roof will definitely add value compared to letting the old roof continue to deteriorate. In fact, an older roof in poor condition can actually decrease your home’s value. So if you need a new roof anyway, it makes sense to invest in one to protect your home and improve its curb appeal.

How Old is Your Current Roof?

The age of your existing roof is a factor in determining if replacing it will add value. If your roof is less than 10-15 years old and still in good shape, installing a new one probably won’t add much value or make economic sense. But if your roof is 15-20 years old or more, putting on a new roof shows buyers you’ve recently made a major investment in maintaining the home.

What Roofing Materials Will You Use?

Using upscale roofing materials that complement your home’s style and stand up well over time provides the most potential return on investment. For example, cedar shake roofs on rustic homes or slate or clay tiles on Spanish styles. Metal roofs also signal quality and can be energy efficient. Going with the lowest cost asphalt shingles may not maximize value. Consult a reputable roofer on the best materials for your home.

Will You Go Green?

Today’s buyers often want energy efficiency and sustainability features. Installing rooftop solar panels or energy efficient “cool” roofing in darker shades can pay off when you sell. With solar, you can emphasize utility bill savings from energy production. Green roofs with vegetation also appeal to some buyers and can reduce storm water runoff.

How Does Your Roof Impact Curb Appeal?

Since the roof is a major focal point, redoing yours in a fresh new color or style makes your home exterior more appealing. This is especially true if the new roof has better architectural shingles or multi-layered “dimensional” look compared to a basic single layer roof. Good curb appeal means more when selling your home.

Will the New Roof Fix Any Problems?

If your new roof corrects concerns found on the home inspection like previously leaky flashing or repairs to the roof deck underneath, those fixes will be valuable to buyers. Addressing problems found during inspections on an older roof can prevent deals from falling through once your home is on the market.

How Does Your Roof Compare to Neighbors?

If surrounding homes have newer roofs while yours stands out as the only older roof on the block, investing in a new one can help your home blend in. No buyer wants the most outdated house on the street. A boost in comparative curb appeal helps attract more interested buyers.

Consult Professionals for Guidance

Speaking with roofing contractors and real estate agents can provide perspective on whether a new roof makes sense and how much value it may add in your specific situation. They have experience with how updated roofs impact selling prices in your local market. Their insights can confirm if your investment will pay off.

In summary, there are many factors that determine if installing a new roof on your home will increase its resale value. The condition and age of your current roof, materials used, boosting curb appeal and energy efficiency, and correcting any issues are all important considerations. Consult the professionals and weigh the costs vs. value benefits. If done smartly, a new roof can be a worthwhile investment when selling your most valuable asset – your home.

FAQs

Does a new roof increase my home’s value?

A new roof can increase your home’s value, especially if your existing roof is very old, deteriorating, or leaking. A new roof shows potential buyers that the home has been well-maintained.

How much value does a new roof add?

The value a new roof adds depends on several factors like roof type, home style, and your local housing market. On average, a new roof will add approximately 50-75% of its cost to your home’s value. Premium materials may recoup 80-90% of costs.

When is the best time to install a new roof?

The ideal time is when your existing roof is nearing the end of its lifespan, around 20 years. Replacing it earlier is not cost-effective. Install a new roof before selling to maximize your home’s appeal and value to buyers.

What roof types add the most value?

Slate, metal, tile and architectural shingles generally add more value than basic 3-tab asphalt shingles. Cedar shake is also desirable. Choose materials that complement your home’s style.

How much does a new roof cost?

The average cost to install a new asphalt shingle roof is $6,000-12,000. Slate, tile, metal or other premium roofs range from $10,000-$30,000+. Get quotes from roofers for exact estimates.

Will my new roof last long?

With proper installation and maintenance, most roofing materials last 20-50 years. Get at least a 20-30 year warranty from roofers on workmanship. This covers the roof’s lifespan so it won’t need replacing before you sell.

Does curb appeal matter?

Yes, a fresh new roof in an updated color improves your home’s exterior curb appeal. This attracts more potential buyers to take a closer look when your house hits the market.

Should I install solar panels too?

Solar panel installations can further boost your home’s resale value. They also reduce electric bills through energy production, which appeals to buyers seeking savings.

How can I finance a new roof?

Options to finance a new roof include cash, your home equity line of credit, FHA Title I loans, roofing company financing plans, or a home improvement loan. Talk to your roofer and lender.