Are you debating having a new roof installed? Yes, new roofs can be expensive, but they offer a real boost to your home’s overall value. Not only will a new roof protect your home from severe weather, water damage, and debris, it can make it much easier to draw in buyers when it’s time to sell.
Never underestimate the power of curb appeal. There’s no measurable price tag to having excellent curb appeal but it’s just as valuable as word-of-mouth. Even if you aren’t planning on selling your house for quite some time, a new roof is quick to impress passersby.
Curb appeal makes for establishing a visible reputation, so when you do go to put the home up on the market, the local area will already recognize the home as having essential upgrades. New roofs are noticeable, even for novice house hunters. Installing a new roof immediately boosts the curb appeal not just at the time of the installation, but for years down the road. It’s a big investment that you’ll take off the plate of the next homeowner—and that is priceless.
Attract Potential Buyers
Experienced homebuyers know if there’s one valuable aspect of a house they should avoid having to invest in, it’s the roof. Roofs are expensive and they can quickly become the subject of a heated home-buying negotiation. By making the investment before you sell, you’ll take the roof off the table completely, which will draw in even more eager potential buyers.
To truly be successful in a house resale, the seller should cultivate a sought-after home with a reasonable price point. Drawing in a crowd of potential buyers will make the offers even more competitive, and as a seller, that’s exactly what you want.
Inspections can easily be the death of a home sale. If something comes up, the buyers can back out. Roofs are one of the major problem causers during the home buying experience. Buyers baulk at old roofs and won’t even consider looking at them. Inspections can highlight issues with roofs, sending potential buyers running out the door.
Roofs are a big investment, but roofs that haven’t been maintained can bring up serious issues during a home inspection. Foundational problems, structural issues, water damage, mold and mildew—these are all things that come up in an inspection from a deteriorating roof system. Don’t let an old roof ruin what could be a smooth inspection!
Installing a new roof can bring new technologies to your home, which in turn, dramatically increases your home’s value. A new roof will improve the overall energy efficiency of your home, but a new roof with Energy Star rated shingles will guarantee a tremendous increase. Energy Star asphalt shingles are designed to reflect the sun’s heat, greatly reducing cooling costs.
Aside from the ability to use modern energy efficient shingles in your roofing system, you can also opt to install solar panels. The addition of solar panels can save you money in a roof replacement when you upgrade the roof system and install the panels together. Solar panels are widely viewed as an upgrade in the real estate market because buyers know they’ll be saving even more on energy costs.
Who doesn’t love a longer warrant on any investment—especially when it’s as big of an investment as a roof? Warranties for standard roofs with asphalt shingles usually last between 15-20 years. When selling a house with an older roof, the warranty could be halfway through, which isn’t very enticing for the next homeowner.
For newer roofs with the latest technologies like premium asphalt shingles, warranties can last even longer—some for 50 years. Asphalt shingles of higher quality can carry these longer warranties, a benefit for you, the current homeowner, and an attraction for new buyers.
Worthwhile Return of Investment
A new roof, while an expensive purchase, is a worthwhile investment. The return on said investment can be as high as 68% upon resale. Return of investment (ROI) can be difficult to accurately pin down because of the variety of factors like location, your surrounding real estate market, and current market trends, but generally speaking, you can achieve close to 70% ROI.
According to the Remodeling Impact Report, 32% of real estate agents said that a homeowner who installed a new roof helped seal their house sale. Between a longer warranty, boosted curb appeal, modern shingles, and increased energy efficiency, you’re bound to bring in plenty of potential buyers. So if you’re on the fence when it comes to doing this project, consider how much easier it will be when it’s time to sell. Your future self will thank you.