The roof has one of the most significant impacts on your home’s resale value. Beyond giving protection or keeping your interior warm, a roof can also improve the visual appeal and aesthetic of your home.
But how much value does a new roof add, really? And when do new roofs increase home values, and when do they not? We’ll look at the many pros and cons as we discuss all about replacing your roofing in this article.
How much value does a roof add to a house?
Many homeowners looking to sell often ask if replacing a roof to increase home value is a good strategy. And often, the answer to that is a big yes. A well-designed roof with premium shingles will add instant curb appeal to your home. Not only can it attract potential buyers to your door, but it will also raise your property’s value as well.
Beyond aesthetics, the roof is often a gauge for the overall quality of a house and the first thing house inspectors check. Roofing with plenty of leaks or broken shingles is a big turn off and will dip your house’s price tag dramatically.
A roof with proper insulation will also help keep the house cool during summer and warm during winter, potentially lowering utility bills.
In the end, though, it’s hard to put a number down on how much value a new roof adds to a home. It all depends on the housing market that you’re in. But if surveys are to be believed, you’re potentially looking to add $12,000 to your home’s selling price.
How much does a new roof cost?
Most people who ask “does a new roof increase home value?” are all worried about the cost of doing it. These concerns are not without merit. Replacing the roof of your house is no small undertaking, physically and financially.
The average cost of a new roof will run you somewhere between $5,000 to $10,000. Your actual spend will depend on several factors, such as the materials you use and the size of your house.
Labor is a big part of your costs, but in our opinion shouldn’t be sacrificed. A professional contractor will help you avoid mistakes that can cost you even bigger down the line.
In the end, the cost of a new roof matters much less if you can recover that expense from selling the house. The more relevant question is “how much value does a new roof add to my selling price?”
Signs you need a new roof
Despite the benefits a new roof brings, replacing it outright isn’t always the best move. The answer to “will a new roof add value to a home?” depends on how much you’re looking to spend and how much value it can actually bring.
For example, if you have a relatively new roof (less than five years old) in excellent condition, replacing it will give you little value. You might even end up spending more money than you’re supposed to. In case of issues like leaks, it’s usually much more cost-efficient to just repair them.
However, if your roof is relatively old (more than 20 years) and past its projected lifespan, then replacing it might be more worthwhile. Aside from old age, here are other signs that you need to watch out for:
- Mold growth especially along the edges
- Light passing through the roof boards
- Missing, broken, or curled shingles
- Small particles collecting in your roof gutter
- Paint chipping away in your ceiling
- Dried caulking
- Living in an area exposed to extreme weather
The bottom line is you need to see if a new roof will cost you more than what you’d be spending in repairs.
Benefits of a new roof
How does putting a new roof on increase your home value? The most apparent benefit is increasing your house’s aesthetic appeal. It creates an excellent first impression to buyers with the potential to make your house stand out in a competitive housing market.
A new roof will also make the house inspection process as smooth as possible. You’ll be confident that buyers will find the condition of your roof more than satisfactory, allowing you to negotiate better on price. You also don’t need to worry about repair costs eating away at your profit.
Beyond aesthetics, there are also practical benefits to a new roof like lowering heating costs and having better protection for your home.
New roof cost vs value
Ultimately, as you try to answer the question “does a new roof increase property value?”, you’ll find that a new roof is one of the best long term investments you can make on your home.
In the short term, you’re looking at the benefits we’ve discussed like improved curb appeal and sellability. However, the great thing about roofs is that they last a long time as long as they’re properly maintained. You’re looking at around 20 years for asphalt and more than 75 years for slate. This is attractive to buyers since they don’t need to worry about spending for roof repairs and maintenance for some time.
New roof from JAE Construction
Are you looking to increase your house’s value with a new roof? JAE Construction’s Fort Lauderdale roofing operation has successfully replaced and repaired roofing around the South Florida area for more than 20 years. Contact us for a free quote today!