Will A New Roof Increase Home Value?

Visually speaking, a new roof is one of the best ways to increase a home’s value and appeal. Quite a few home renovations accomplish this same feat, but with the high price tag of a complete roof replacement, we often wonder if it’s really worth the extra time and money. Will a new roof increase home value? It may seem unlikely that prospective buyers will notice a sparkling new roof, that the replacement cost might not be represented in your home’s resale value, or even that a roof renovation is a boring way to spend ten grand. However, and fortunately for sellers and homeowners alike, these statements are largely false and the true answers lie in their opposites.

When To Replace and When To Repair

A sporadic leak or two often won’t warrant a complete stripping of your old roof, but rather a patch repair of either the shingles themselves or the foundation beneath them. In cases like this, it’s usually obvious that a full replacement isn’t the best option in terms of cost-effectiveness. Replacement must be considered when you notice any of the following:

• Mold, moss, or algae on your roof or in the gutters.
• Water stains spreading on your ceilings.
• Bubbling or blistering paint on ceilings.
• Water and sunlight leaking through, primarily noticed in attics.
• Missing, damaged, or curling shingles.
• Small, sand-like granules accumulate in your gutters.
• Rising energy bills.

These signs of damage not only pose a threat to your home and its contents, but also your home’s selling potential and price point. A dingy, damaged roof will deter most buyers, and for good reason. A dilapidated roof sets the tone for the rest of the house, for both aesthetic and structural reasons.

The Cornucopia Of Benefits

Roof replacements are not cheap nor are they an easy task, unlike some other minor home repairs. However, the number of benefits in both cost and safety categories far outweigh many other home renovations that fall into the same price range. Here is a list of benefits that explain the answer to the question “Will a new roof increase home value?”

Increase in resale value

One of the first and most desirable benefits of buying a new roof is the potentially high increase in your home’s resale value. This is typically what people think of first when weighing the pros and cons of reroofing, and it’s a benefit that often comes to fruition. Homes with new roofs generally make back 68% of the initial investment, as a fresh roof raises curb appeal, a home’s level of safety, and even lowers insurance. You can expect to add roughly $12,000 to your home’s value after a roof replacement, depending on your area and its housing market.

Enhanced curb appeal

Curb appeal is what buyers notice first about a home, and even the prettiest homes can have their image marred by an aged, dingy roof. Despite the appeal, you know your home has, an old roof may be the thing holding you back from making a sale. Homes with new roofs are appealing visually and in a long-term, peace of mind way, encouraging buyers to purchase as they know they won’t have to endure the costs and effort of a roof replacement any time soon.

Improved safety and efficiency

A new roof will of course be safer than an old, damaged roof, providing unerring shelter and warmth to everyone in your home. This aspect also adjusts insurance rates and warranties, in a very good way. Some states reward energy-efficient roof replacements with tax credits, and with that combined with smaller energy bills from a new set of energy-efficient shingles, your savings will be large.

Make The Most From Your Investment

Replacing your old roof will be noticed and most appreciated by buyers after an appraisal, but the advertising and marketing for your investment can begin long before that. Mention that your home has a new roof in your listing, include photos of it and include the many benefits of having a new roof over your head–like security, safety, and the promise of longevity.

It’s also important to know the expectations and trends in the roofs around you, as this will keep you from overdoing the quality of your roof and losing money or underdoing it with poor materials and colors. Depending on your neighborhood and area, buyers may be deterred by a roof that is too nice, a luxury they don’t feel the need to be paying for. Aiming for a middle-ground roof in terms of material and color is your best bet for securing a profitable, smooth sale.