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If your roof is over twenty years old and has visible signs of deterioration, it might be time for a roof repair or even to replace the current roof altogether. It’s essential for reselling value and functioning, as a shiny new roof will not only up the asking price for your property but increase its curb appeal and provide many other values.
This article will describe the benefits of a new roof installation and give you some starter tips on how you can think about budgeting for such a project, as well as some information on how a new roof will lead to expedient sales. How much value does a new roof add? Keep reading to find out.
Home Value of a New Roof: Assessing the Impact
Curb Appeal Enhancement
A roof replacement significantly boosts your home’s curb appeal, bringing a lot of joy upon returning from a busy day at the office. Whether you use asphalt shingles, slate, or metal, your home’s roof significantly impacts your property’s appeal.
Increased Property Value
The quality of your home’s roof will also increase your property’s value, improving resale value for the real estate market. This is valuable to the average homeowner whether or not they plan to resell their house, as it positively influences appraisals and marketability.
Energy Efficiency Benefits
Believe it or not, a new roof can make your home more energy-efficient as a whole. This is done through roof ventilation, solar reflection (if you use the right materials), modernized shingles, and the use of energy-efficient materials for construction. You can even claim a Residential Energy Tax Credit to alleviate some of your costs.
Factors Affecting Value Addition
Roofing Material Choices
Different roofing materials have specific longevity considerations as well as aesthetic appeal. An example is asphalt shingles, which last around 15 to 20 years. But concrete, slate, and clay can last 100 years or more and have solid aesthetic appeal.
Installation Quality
Hiring a company that does expert construction services for a high-tier installation quality that will last the longest is worth it. An experienced roofing contractor mostly best handles roof installation, so shop around, compare quotes, and check out the average national cost for reference.
Local Real Estate Market
You can also up your home’s local real estate market value by adding a new roof. Depending on your location, the demand for specific roofing materials is higher than others.
It’s worth looking into this rigorously, as the roofing material you use for your new or existing roof will influence how much value your home is worth once the new roof is completed.
Calculating the ROI of a New Roof
It’s not difficult to figure out the ROI for when you replace your roof. All you have to do is compare the investment and the profit when you resell it.
The resale value will differ depending on your chosen materials and how thorough the roofing project is. To decipher the potential resale value, you must factor in installation costs, material longevity, and property value.
Home Appraisals and Marketability
Picture this. The old roof is gone, and in its stead is a metal roof or new asphalt shingle roof, sure to improve curb appeal and home value. With this roof added, you can get an appraisal, which will undoubtedly be positively influenced by the roof replacement project. This is fundamental in setting a higher asking price if you wish to sell.
Faster Sales and Marketability
A real estate agent is better equipped to sell a house with a renovated roof replacement on top of its other virtues. It’s a selling point that they can use in their clientele pitch.
Also, the curb appeal will be better depicted in the photography, presenting the aesthetics and generating property interest expediently. New roofs appeal to prospective home buyers and give your property a competitive advantage.
The Final Product
In review, a new roof not only adds curb appeal, increases property value, and makes your home more energy efficient, resulting in cash savings, but it also elevates your property into the comfortable environment it should be.
A new roof welcomes you as you return from work and reassures you that if a day comes when you want to sell up, you will get a great deal from a hungry homeowner like yourself who loves your property.
Remember to factor in material choice, a quality installation by a reputable contractor, and seek energy efficiency whenever possible. These all play a pivotal role and will create long-term benefits that will put your home beyond pricing.
If you are looking for professional construction services in the Western Mass area, look no further than Dan’s Construction Services. We’ve been at it for decades and know a thing or two.
Frequently Asked Questions
How often should I consider replacing my roof to maintain or increase home value?
It depends on the condition of your house. If your roof is 20+ years old and/or you notice the signs of a damaged roof, it could be merely time for repairs. In more severe cases, a new roof is warranted.
Do certain roofing materials offer a better ROI than others?
The metal roof, which will cost more than an asphalt shingle roof, has a lower percentage return.
Are there any government incentives or rebates for energy-efficient roofing projects?
The Residential Energy Tax Credit exists to offset the costs of various home improvement projects, including roofing and metal roofing. The key idea is that the project makes your home more energy efficient. If you go this route, you can save money.
Can I finance a roof replacement and still expect a positive ROI?
Various factors are involved in this, including the size of your house, the complexity of the roof, and the materials needed. But if you plan to resell your home, you can likely recoup your costs as long as you manage your budget.
Is it advisable to get a professional appraisal after a new roof installation to reflect its added value?
Yes, doing so can let you know just how much the value of your home has increased, which is especially important if you are looking to sell.
