Adding a new roof on your home not only helps to protect your family and your belongings from the wind and rain. It can also help you save money on your monthly energy bill while simultaneously increasing your home’s value and curb appeal.
When most people think about home projects that have the potential to increase the value of their home, they are usually not considering reroofing as a prime target. Instead, they tend to think about projects that are a little more obvious upon initial observation, like landscaping.
However, some research has shown that installing a new roof on your home can up the resale value big time. According to one study, putting a new roof on your home can increase the resale value by as much as $12k! Additionally, more than 50% of the cost of the roof is offset by the newfound equity gained by the installation. The study revealed that installing a new roof is better in terms of return on your investment than either building a new bathroom or supplying a backup power source.
Why Should You Install A New Roof?
- Up Your Equity: You can increase the value of your home just putting on a new roof which, let’s be honest, you probably need anyway.
- Aesthetic Appeal: New advances in luxury and architectural styles of asphalt shingles allow you to customize the look and feel of your roof more than ever before! If you are tired of the same ol’ and want to add a little flare to your home, the possibilities are (nearly) endless with the new styles of shingles available.
- New Technology: Shingles have not only advanced in terms of looks, but these days the functional technology of shingles is lightyears ahead of a few decades ago. New high tech shingles have been engineered to reflect sunlight off your roof helping to keep your home cool and reduce utility bills.
- Enjoy Extended Warranties: With the advances in roofing technologies, roofs just tend to last longer, and manufacturers are willing to stand by their work for longer than ever before.
- Pass Your Inspections: If you’re ready to sell your house, you are almost certainly going to need to have it inspected. A brand new roof is going to look good in the eyes of appraisers as well as prospective buyers.
What Does The Roof Have To Do With The Home’s Value?
Most people don’t give much thought to the roof at all. It’s just sort of…up there, doing its thing, right?
Well, if you stop to think about it, roof actually has a few different functions. Yeah, it keeps the rain off. But did you know that the roof plays a major role in the insulation, and therefore energy efficiency, of your home? This may arguably be just as important as protecting you from the rain, sleet and snow.
Besides all that, a nice roof just looks handsome. You could have the most beautiful yard and stunning home, but what if the roof is practically falling off? You can see how that ruins the scene for you and any potential buyers.
One thing about the roof is that it is so important in protecting the inside of your home from damages associated with weathering and water damage. A prospective buyer will look at the roof and take it as an indication about how well you have taken care of your home over the years. If the roof is in bad shape there is just no telling how bad things could be on the inside.
Should You Put On A New Roof Just Before Selling Your House?
If you’re just about to sell your home, you may be considering whether putting a new roof just to up the resale value is worth it. The answer to this is going to depend mostly on how much a new roof is going to cost you, and how badly it needs to be replaced in the first place.
The roof is often a major consideration for prospective buyers. Knowing they will need to put on a roof immediately after they just shelled out major moola to get the house in the first place can be a major turn off. However, if your roof has been replaced fairly recently you might be able to get by as it is.
The best way to determine if putting a new roof on your home solely for the purpose of selling it will be worth your effort is to talk to a professional roofing contractor. Get in touch with the professionals at Inland NW Roofing and Repair to get a free estimate on a new roof, and an estimate how much getting a new roof could increase your property value.