Replacing shingles and completing minor roof repair jobs here and there is helpful in the short term, but sometimes, an entire tear-off roof replacement is required to keep your home looking and functioning its best. A full roof replacement involves considerable amounts of construction, and the installation cost can get steep.
Since roof replacements are a significant investment of both time and money, it’s no surprise homeowners often wonder, “does a new roof increase home value?” While the answer to this question is slightly complex, replacing your current roof can improve curb appeal and energy efficiency and even help speed up the selling process when real estate agents attempt to sell your home.
Keep reading to learn more about how much value is actually added to your home when you have a new roof installed.
Signs It’s Time to Install a New Roof
There are many reasons an old roof might require more than a simple roof repair or partial re-roofing. Although a home’s roof should last for two to three decades with the proper upkeep, the average homeowner can expect to need a roof replacement at some point in their lives.
Extensive storm damage or even age can affect your home, requiring you to invest in a new or updated roof. Some common signs you may be dealing with a damaged roof include:
- Cracked or missing shingles
- Moss and algae growth
- Shingle discoloration
- Sagging roof pitches
- Gaps or holes
- Leaky roof
- Excessive granule loss from asphalt shingles
- Structural issues
- Severe storm damage
If your old roof shows signs of aging or damage, consider having a new roof installed by a trusted roofing contractor. While repairs can help add short-term value to your home, sometimes that’s not enough. A roof replacement is an excellent way to increase your home value, whether you’re planning to sell your home or stay in the same place.
Does a New Roof Increase Home Value?
You might be thinking, “how does a new roof increase home value?” There are quite a few things that need to be factored in to determine how much value a new roof will actually add to your home. Let’s dive further into the value of a new roof now:
Honest Answer: It Depends
As we mentioned above, the level of value a new roof will add to your home ultimately depends on a few things. Remember that a roof replacement is not as cheap as short-term repairs, so the initial investment may seem overwhelming.
The average national cost of a roof replacement is around $8,000. Still, homeowners can expect to spend upwards of $11,000 for a brand new roof depending on:
- Roofing material
- Square footage
Although the upfront cost of a roof replacement is significant, the added home value and money saved over time make it a worthwhile investment for most homeowners. Many buyers prefer purchasing homes with a new roof, so a replacement can be advantageous toward your home’s resale value if you plan on selling it down the line.
In addition, a new roof made with a modern, high-quality roofing material can regulate the surface temperature on your roof and in your attic, helping to improve your home’s energy efficiency. This is because your roof is better equipped to trap heat or air conditioning inside your home instead of allowing it to escape through damaged areas of the roof. Your chosen roofing company can help determine the best materials for your budget and local climate to ensure you’re getting the greatest value from your new roof.
Roofing Materials Matter
Consider the costs and pros and cons before you install a new roof. While a roofing replacement is always a solid idea when damage or old age takes its toll, the materials you choose to use truly matter for adding value. Metal roofs might work great for certain locations, while other environments are better suited for asphalt shingles.
Are Asphalt Shingles Still a Smart Investment?
Asphalt shingles are the most prevalent roofing material in North America, with nearly 80% of homes featuring this famous shingle style. If your old roof is made with asphalt shingles, don’t be afraid to stay true to this classic style, as it’s remained popular for good reasons. Asphalt shingles are exceptionally durable and can withstand years of exposure and weathering with minimal upkeep and repairs. Whether it’s a metal roof or made from asphalt, a new roof can add exponential value to your home.
Other Roofing Materials to Consider
Although the asphalt shingle roof is one of the more popular choices among average homeowners, other options might be better suited for your climate and budget. Examples of other roofing materials include:
- Metal roofs (i.e., stone-coated steel)
- Rubber roof shingles
- Tile roofing materials (clay, concrete, slate roofs, etc.)
- Solar-tiled roofing
- Green roofs
- Wood shingles
While wood shingles look great, they’re more likely to fail faster and succumb to issues such as mildew and water damage. Alternatively, metal roofing is a solid option in areas like the Southern US prone to high winds, heavy rain, or hurricanes. Talk with a trusted roofing contractor to decide which material will add the most resale value to your home.
Final Verdict: The Real Value of a Roof Replacement in 2023
Overall, the return on investment you receive with a roof replacement can be significant in several different ways.
Whether it’s installing a new asphalt shingle roof or you choose another option like metal roofing for your roof replacement, today’s roofing materials can offer a range of great benefits, including:
- Higher resale value
- Greater curb appeal
- Lower utility bills
- Improved energy efficiency
- Minimal maintenance
- Longer roof life span
- Cheaper cooling costs
Replacing an existing roof provides clear value to a residential home. If your older roof is riddled with roof damage that requires more than a simple shingle replacement or minor roof repair, consider a roof replacement to boost curb appeal, improve home efficiency, and even help raise the appraisal value on your house when it comes time to sell.
Get Ready to Sell Your Home With a New Roof Replacement
Whether you’re preparing to sell your home and move out or simply need to replace your existing roof, you’ll want professional help to get the job done right. Work with a trusted roofing contractor to ensure every aspect of your roof replacement project goes smoothly and is completed properly.
When done correctly, a new roof installation can have an immensely positive impact on your home value, so don’t hesitate to make Best Exteriors your preferred roofing company and increase your home value in no time. Contact us today!