49 – that’s the age of the average home buyer in the United States, a figure that has skyrocketed over the past few decades. So, needless to say, if you own a home, you’ve achieved something fewer and fewer people can boast – in the minds of many, you’ve made it in life. As such, you likely have a vested interest in protecting the value of your greatest investment from the wear-and-tear that’s inevitable over time.
With that in mind, there are several ways to maximize the value of your home, from proper landscaping to a new coat of paint. However, the most valuable home improvements combine aesthetics and functionality – that’s where a new roof comes in. By making your home look more impressive from the outside while better protecting your family from the elements, a roof replacement heightens the value of your home on every front.
In this article, we’ll detail the ways roof repair or replacement can bolster your home’s value, all so that you can protect your greatest investment (and, in the eyes of many, your greatest source of pride).
Value Added: By the Numbers
Of course, you likely care most about the price tag – how much will a new roof increase your home’s value, and how much will you have to pay? Well, according to Remodeling Magazine, you can expect the following from two common types of replacement roofs:
| Average Cost (2019) | Average Resale Value (2019) | Return on Investment | Boost to Average Home Value |
Metal Roof | $38,600 | $23,526 | 60.9% | 9.1% |
Asphalt Shingle Roof | $22,636 | $15,247 | 68.2% | 5.9% |
As you can see, a new roof can add a significant amount to your home’s value – however, this boost likely won’t outweigh the price you pay for your roof replacement. Upon reading that, you may be wondering, “If I can’t make my money back, is a new roof even worth it?” Well, it depends entirely on the following factors:
- If and when you plan on selling your home: If your current roof is in significant disrepair and you plan on living in your home for a little while longer, simply avoiding leaks in the middle of the night for the next several years may be worth the remaining 30-40% of your investment you haven’t yet gained back.
- The extent of your roof’s disrepair: If your current roof is in too poor a condition (and if you’ve sought out this article, it likely is), few, if any, buyers will make offers on your home when you decide to sell – after all, they’ll hardly want to drop $20,000 on repairs as soon as they move in.
- How quickly you want to exit the market: When you sell your house, doing so with a faulty roof will take much longer than it otherwise would, as prospective buyers may want to negotiate the price down or schedule extra inspections.
Ultimately, if you’re interested in sheer dollar amounts, you may want to simply let your home’s next owner handle roof replacement. However, if you plan on staying in your house for a few more years, or if you value a smooth selling process, a new roof is a must-have.
How to Increase Home Value with a New Roof
As we mentioned before, the value of a new roof is twofold: 1), it improves your home’s aesthetics, making it more attractive to potential buyers as a status symbol; and 2), it better protects your interior from leaks and temperature fluctuations, giving prospective buyers confidence that they would be comfortable and secure if they lived in your home.
Of course, none of that matters if buyers don’t know you’ve had your roof replaced – as such, you should communicate this fact to your real estate agent upfront. That way, they can highlight your new roof when giving tours to prospective buyers. Furthermore, this allows your agent update your property’s details on MLS (Multiple Listing Service), the database from which websites like Zillow pull real estate information (this could, for example, boost your Zillow home value estimation, allowing you to charge a higher asking price upfront). In this way, you can ensure you’re getting the most bang for your buck on your replacement roof.
Signs You Should Replace Your Roof Before Selling
Of course, if your roof is in good condition, you can likely sell your home at near-maximum value without a roof replacement, still allowing you to avoid all the buyer-related pitfalls we mentioned before. However, given that you’re reading this article, you’re likely unsure if your roof is in acceptable condition for prospective buyers. With that in mind, here are some common signs you need a new roof in order to maximize your property’s value:
- Old Age: If your asphalt shingle roof is older that 30 years, or if you’ve had your metal roof for over 50 years, you should seriously consider roof replacement, especially if any other red flags are present.
- Shingle Condition: If you’ve noticed cracked, curled, or missing shingles on your roof, or if you find an excessive number of shingle granules in your gutters and downspouts, your roof is likely past its prime.
- Leaks and Water Damage: If you notice rainwater infiltration in your home, stains on your walls, or mold or discoloration in your attic, your home has likely sustained water damage due to a faulty roof, something that will almost certainly turn off prospective buyers.
- Energy Inefficiency: If you experience abnormal temperature fluctuations in your home, your roof may be at fault, driving up your energy costs and thereby scaring away potential buyers.
- Visible Structural Damage: Worst of all, if you find sagging areas or signs of rot on your roof, you should seek out a roof replacement as soon as possible – if these problems are left to fester for long enough, you’ll risk full roof collapse.
For more information, check out our article on the top 5 warning signs that you need a new roof.
With all of that in mind, it’s clear that if you want to maximize your home’s value, you should replace or repair your roof. When the time comes to sell, prospective buyers will respect this effort and therefore accept a higher asking price. With that said, even if you plan to stay in your house for years to come, replacing your roof is never a bad call; after all, today more than ever, a house is a source of pride for you and your family – and you deserve to highest-value home possible.
Looking for roof replacement near you? For 109 years, Baker Home Exteriors’ dedicated team of experts has been helping families create their dream home through high-quality work, at a profit if we can, and at a loss if we must. Let our family take care of yours – click here to get your free estimate today.
