How Much Does a New Roof Increase Home Value? Here’s the Inside Scoop
Whether you’re thinking of listing your home soon or in the future, the overall value of your home is likely an important factor. Obviously, you want to sell your home for a profit, so you’ll need to add equity.
You’ve probably already boosted the value of your home by upgrading the appliances, knocking out a wall for an open floor plan, and renovating the kitchen, but there’s still more you can do!
So, if you’re asking yourself, “How much does a new roof increase home value?” we’ve got you covered.
Does a New Roof Increase Home Value?
Yes – upgrading the roof of your house can positively affect the property value. According to Zillow.com, a new asphalt roof can have an average ROI of 68.2%, with metal roofs at 60.9%.
How Does a New Roof Increase Home Value?
We understand that a roof replacement is a significant undertaking, but it can add serious value to your home when it comes time to sell. Read on for a breakdown of how installing a new roof can increase your home’s value.
1. Better Energy Efficiency
Modern roofs are considerably more energy efficient than outdated roofs. They offer better insulation and prevent heat from escaping in the winter. In the summer, they deflect the sun’s rays and keep your house cool. This provides added value for a buyer, as they’ll have to spend less on the long-term costs of heating and cooling the home.
2. Improved Curb Appeal
Frosting on top of the cake — that’s what buyers see when they drive up to a house with a brand-new roof. Curb appeal goes a long way to entice a buyer, and an updated roof can make your home stand out from the pack.
Although it’s unlikely that a visitor has ever pointed out the state of your roof, potential buyers will. A bad roof will be glaringly obvious, and a new roof will beautifully compliment your home’s exterior.
3. Reduced Likelihood of Costly Repairs
A state-of-the-art roof lets potential buyers know there is one less thing they have to worry about if they purchase the house. When you select durable, long-lasting materials, a new asphalt roof can last anywhere from 20-25 years, and a new metal roof could last up to 50 years! By pairing the longevity of a new roof and the decreased likelihood of needing costly repairs, you get a win-win for yourself and your home’s new owners.
4. Increased Marketability
Replacing the roof makes your home more marketable, attracts more buyers, and sells quickly. This is because the added benefits of a new roof will encourage buyers to submit their offers. The chances of receiving multiple offers go up when your home has a new roof, and it can even earn you some leverage when selecting an offer and entering contract negotiations.
5. Enhanced Home Safety
A new roof not only improves the aesthetic and functional aspects of your home but also enhances overall safety. Older roofs can have hidden issues like leaks, weakened structures, or mold growth, posing health and safety risks to the occupants.
Investing in a new roof gives potential buyers peace of mind, knowing they are purchasing a home with a secure and safe roofing system. This assurance of safety can be a compelling factor that increases your home’s value when it’s time to sell.
Ready to Replace Your Roof and Increase Your Home’s Value? Werner Roofing Can Help
With so many benefits for you and your home’s potential future owners, replacing the roof on your home is one of the most effective ways to raise the value of your home before a sale!
If you have more questions about replacing your roof, or if you’re interested in replacing your roof before you sell your home, feel free to contact the experts at Werner Roofing.
As a trusted, local roofer, we can give you a free roof replacement estimate and help you decide if roof replacement is the right option for your home. Give our office a call today at 616-844-5382!
