Can a New Roof Improve Home Value
A new roof is enough to impress passers-by and will attract buyers even while they're not actively house hunting.
Roof installations are costly, and new buyers don't want to deal with home renovations when they purchase a property. Even if a homeowner manages to sell the house with an old or leaky roof, its value will be significantly lower than if it had brand-new roofing.
Knowing which aspects increase and decrease a home's value before the sale ensures you get the best price for the property.
How much resale value does a new roof add?
The cost and return on investment highly depend on the type of roofing. A typical asphalt shingle reroofing project costs around $29,136 on average. A new asphalt shingle roof can increase the home's value by approximately $17,807 – which equals about 61.1% of the reroofing cost.
On the other hand, metal roof replacement is more expensive and costs around $47,414. The resale value of a metal roof is about $23,163, representing 48.9% of the initial project cost.
Ways a new roof increases home value
A new roof improves a home's value in these aspects:
Improved first impression
The roof is the first thing potential buyers see when they visit the house. A new roof is enough to impress passers-by and will attract buyers even while they're not actively house hunting.
Classic styles that match various house aesthetics are best to maximize curb appeal. The roofing should also match the rest of the neighborhood's quality and value. Buyers won't look twice at a roof if they can find a more luxurious one in the same area for a similar price.
Longer warranty
When installing a new roof, homeowners always consider the warranty length and transferability. The same goes for homeowners looking to buy a new house. A standard asphalt shingle roof warranty lasts between 25 and 30 years. Transferring the warranty often shortens the duration. If the roof is old, the time covered by the warranty is even shorter.
Considering everything mentioned, a new roof presents a much more attractive option for buyers than an old one.
New roof technologies
The roofing industry continuously searches for new materials and technologies to improve energy efficiency, durability, and sustainability. Roofs with solar panels, cool roofs, Energy-Star-rated shingles, and other eco-friendly options greatly increase the home's value.
New roofs are much more likely to come with these features than old roofs. In addition, sustainable roofs will garner more interest since they present a much more favorable option for environmentally conscious buyers and homeowners looking to lower their electricity bills in the long run.
Get the best roofing service
If you decide to replace the roof on the house before the sale, hire a reliable and experienced roofing contractor. A professional roofer will ensure proper roof installation and the maximum return on investment.
Irish Roofing Company provides Scottsdale with roof inspection, installation, sealing and repair. We offer shingle services, tile roof services, flat roof services, roof cleaning, roof inspection, roof installation, leak repair, roof recovering, roof repair, roof sealing, skylight installation and replacement, and wood shake services for commercial and residential customers.
