Let’s get started with some easy questions and answers. Shall we? Will a new roof increase the home value? Generally speaking, it will. The question here is whether you need a roof replacement or not.
And then, there’s another question. Will a home not sell easily or sell much lower if the roof is not replaced? Hmm, it depends on several factors. Should we start with that?
To replace the roof or not?
Assuming you plan to put the home on the market, replacing the roof is one of the best things to do to raise the value. Then again, not all homes are ancient old. Not all roofs are very old either. So, let’s think things through from a different angle. Should we?
If you get a new roof, you will sell higher. And while all buyers appreciate a home with a new roof, not all of them will be able to pay the extra buck. At the same time, this would be a great expense for you, an expense you need to make right now to gain later – let alone the hassle. So, your decision to replace or not the roof depends on its condition. If it’s old, cracked, damaged, leaky, by all means, what are you waiting for? Find a roof contractor. But if it’s in good shape, well-maintained, not very old either, why take the step?
Light at the end of the tunnel: think of it this way. If you want to sell the house, you surely want to gain from it – certainly not lose. Damaged and leaky roofs decrease the value. I mean, who would want to buy a house with a bad roof?
The benefits of a new roof?
• Great protection indoors from the elements
• Enhanced energy efficiency
• Improved curb appeal
• Health hazards and dangers are eliminated
• Money saving by preventing heat loss
• Indoor comfort with HVAC unit efficiency
• Taking advantage of new materials and technology
Who doesn’t want all that? You see, when buyers check out homes on the market, one of the things they pay attention to is the roof. And it’s understandable. Having a bad roof leads to the exact opposite of all above benefits. And there’s one more thing.
When people buy a home, they don’t want (or cannot afford) to change the roof. And although reroofing is also a solution and cheaper than replacing the whole structure, it’s not the same as getting a new roof. Plus, reroofing is not always possible since it may add extra load/pressure on the foundations and structure, threatening the integrity of the building.
To make a rather long story short, let me say this. Nobody wants to buy a house and then bother with the roof. So, if you want to sell, it’s best to be sure the roof is in good shape. Or you need a new roof. And there’s something else to add here.
Are you planning to make any more home improvements?
That’s often the case. In order to sell higher, homeowners often do all sorts of improvements. But if the roof is leaking or its bad condition causes indoor moisture, what’s the point of spending money on other home improvements? It’ll be a waste of money and time. And so, you have one more reason for getting a new roof before you put the home on the market.
Of course, our concern here is to see if it’s truly worth installing a new roof to get a higher home value.
The short version is yes. If you put all the above together, it’s easy to conclude that people are willing to pay a bit more to have the peace of mind that their new home has a new roof and thus, all advantages that come with it. Let’s take one final look.
Roof installation cost vs home value
New roofs bring the best return on investment – around 70%, for all the above reasons. Real estate agents have said that a new roof has often been their marketing tool that helped them close a deal.
Yes, there are some considerations and you need to think about them. And they are not limited to whether or not the roof must be replaced or not alone.
It also has to do with the market at the time you want to sell. It also has to do with the size of the house, the roof you are getting, the current costs – everything related to the roof installation now – because you’ll be compensated later, remember?
Although a new roof is always better than an old roof, sometimes a new cheap roof compared to an older but well-maintained and real durable and expensive roof is not a good idea. In such cases, you may gain some impressions due to the good looks all new roofs have but ultimately, you won’t be compensated for the overall cost and hassle. If you are going to take the step, do it well.
