Like most homeowners facing a big decision, you want to make sure what you’re investing in for your home will pay off in the long run. You’re probably asking yourself, “does a new roof increase home value?” and if so, by how much?
Well, the answer to that question really depends on a lot of factors, such as:
- The values of nearby homes
- The type of roofing material you install
- The size of the project
- How long after installation that you plan to sell your home
If you’re wracking your brain for whether or not getting your roof replaced is worth it, we’re here to discuss why.
Eventually, your new roof will pay for itself, but how long will that take? And how much ROI will you get? This guide sets out to answer these questions and help you determine the best course of action for getting the most value out of your new roof.
How Much Does a New Roof Cost?
The two biggest factors that determine how much your new roof will cost are;
- The size of the project;
- And the type of roofing material you choose.
The national average cost of a new roof is around $8,000. Of course, this can range anywhere from $5,000 to $20,000 depending on the material and size, as we mentioned. Here is a typical range of roof replacement costs by material:
- Asphalt shingles: $5,000-$12,000
- Metal roof: $6,000-$16,000
- Cedar shakes: $14,000-$27,000
- Slate: $5,000-$28,000
- Concrete tile: $10,000-$21,000
- Clay tile: $20,000-$40,000
- Green roof: $10,000-$30,000
Before getting a new roof, it’s important to consider your long-term goals, not just your budget. If you have an asphalt shingle roof, you likely know the amount of upkeep it requires and that it only lasts 15-30 years. So if you get a new asphalt shingle roof, you could be looking at replacing it again in the future, should you stay in your home.
However, upgrading to premium quality asphalt shingles or materials like wood shingles or metal can both increase the time your roof will last and boost your resale value— which we’ll get into next. Speaking to a professional roofer or your real estate agent can also be a huge help in the decision-making process.
How Much Does a New Roof Increase Home Value?
A new roof can be a great way to increase your home’s value, whether you’re looking to sell in the near future or not. A recent study showed that homeowners who replaced their roofs can increase the value of their homes by nearly $15,000 on average.
It also becomes a major selling point for potential buyers as new homeowners don’t want to have to deal with roof issues right away— a new roof ensures their security for many years to come. But it’s important to check with a local realtor to determine the exact amount of value and selling point a new roof could add to your home based on your location and the landscape of home prices in the area.
6 Benefits of Installing a New Roof
Getting a new roof isn’t just to get ready to sell— it’s an investment into your home’s future and your own livelihood. Some of the greatest benefits of a new roof include lowering your energy bills and giving your home a refreshed look. Some benefits other than increasing your home’s value include:
1) Improve Your Home’s Energy Efficiency
As your roof ages, it can become far less efficient as gaps form, insulation flattens, or any air leaks become an issue. In fact, higher-than-normal energy bills can be one of the first signs you need to replace your roof. Replacing the entire roof can ensure a properly sealed, well-ventilated, and insulated attic and roof to keep you cool in the summer and warm and toasty in the winter.
2) Advanced Technologies and Quality
Roofing materials and products continue to advance and are improved upon year after year. Upgrading your roof when its life is nearing its end means you’re also getting an even more advanced version of the roof you had initially. From better water sealing techniques to better tools for installation, you will be so happy you invested in a new and improved roof.
3) Better Air Quality in Your Home
We spend most of our time indoors, so it’s important to have clean air circulating throughout the rooms in our homes. When your old roof is beginning to show its age, it might be releasing harmful particles and chemicals into the air inside your home. Or if your old roof has been slowly leaking, it can cause mold and mildew in the attic. These can cause a wide range of health problems for you and your family, including respiratory problems, headaches, and dizziness.
4) Increased Curb Appeal
Your roof is one of the first things people see when they pull up to your home. If it’s in bad shape, it can make your whole house look shabby. But if you have a brand new roof, it can really spruce up the look of your home and increase its curb appeal. This can be enough to refresh your home and make you want to stay for the long haul.
5) Getting a New Warranty
Warranties are important when it comes to big investments like a new roof. When you get a new roof, you can rest assured knowing that your roof is covered against any defects for many years to come— sometimes up to 50 years. This gives you the peace of mind that if anything were to happen to your roof, you would be protected.
6) Maintaining Insurance Coverage
Some insurance companies will not cover a roof that is over 20 years old or, at the very least, have minimal or limited coverage. So updating your roof can ensure you maintain that protection and will be able to get any unexpected issues covered under your insurance policy.
Tips for Getting the Most ROI From a New Roof
If you’re looking to get the most return on investment (ROI) from a new roof, there are a few things you can do:
1. Use high-quality materials that will last a long time and increase your curb appeal.
2. Work with an experienced roofing contractor who can help you choose the best materials for your home and install them correctly.
3. Get a warranty for your new roof to protect yourself from any unforeseen issues.
4. Keep your receipts and documentation from the project in case you ever need to file an insurance claim.
5. Choose a neutral color scheme that will appeal to a wide range of buyers if you’re planning on selling your home in the future.
6. Consider adding new features to your roof, such as solar panels or a skylight, to further increase its value.
A new roof is a big investment, but it’s one that can pay off in many ways. If you’re thinking about getting a new roof, keep these benefits in mind. You might find that a new roof is exactly what you need to take your home to the next level.
Work With Clean Cut Roofing for Your Roof Replacement
When you’re ready to replace your roof, the team at Clean Cut Roofing is here to help. We specialize in handling your roof as an entire system, from the shingles to the gutters, and can work with you to choose the best materials and style for your home. Contact us today to upgrade your roof and get the value your home deserves.
