Are you wondering whether a new roof will really increase the fair market value of your home? You’re not alone. Homeowners everywhere are considering a new roof and other home improvements as a way to boost their home’s value.
Everyone knows that a new roof can increase the price of a house. But just how much value does a new roof add? It depends on the quality of the roof job.
As the premier roofing company in Rocky Mount, North Carolina, Authentic Restoration offers a full suite of services, including roofing, storm damage restoration, inspections and more.
If you want to improve your home’s curb appeal, call Authentic Restoration at (252) 904-3995 to receive a free estimate today!
Why You Might Need a New Roof
As a homeowner, you might need a new roof for a variety of reasons. Discover some of the most common motivations for installing a new roof below.
Selling Your House
Most homebuyers prefer placing offers on homes with new roofs because they don’t want to deal with the hassle of having a roof replaced.
Roof Leaks
When a roof begins to leak, roof repair is one of the first things people think about. Severe water damage may even call for having a completely new roof installed.
Remodeling
Installing a new roof is like giving your home a facelift. If you find yourself remodeling your house, a roof replacement might make sense depending on the condition of your roof.
Fallen Tree Limb
It happens more often than you might think. Tree limbs weigh so much and fall from such great heights that they can completely wipe out your existing roof.
How a New Roof Increases Your Home’s Value
A reroofing project often increases the value of a home by more than the cost of the new roof. However, that is not always the case. How much value does a new roof add? It depends on a variety of factors. Discover the three main ones below.
Existing Roof Conditions
Replacing an older, damaged roof will increase a home’s value more than replacing a newer one. Many homebuyers expect to purchase homes with functional roofing systems. Unmaintained roofs tend to deter buyers from putting in a bid, and a defective roof significantly decreases the value of your home. However, it does present an opportunity.
We recommend thoroughly inspecting your roof before putting your home up for sale. If you find minor issues, replacing your roof makes no sense because you can repair it for far less money than a replacement would cost.
Because roof repairs cost less than replacements, consider a new roof only if you believe it will bring you a profit. Keep in mind, though, that some states legally require you to replace a damaged roof, even if you don’t plan on selling your home.
Market Conditions
Installing a new roof may not increase the value of your home enough to cover the cost of the replacement. Different regions command varied roof values. For example, a new roof in Massachusetts adds more value during appraisal than one near the Great Lakes.
The value of a new roof also depends on general housing market conditions. Before making the decision to replace your roof, you might talk with a local real estate agent or appraiser for a better understanding of current market conditions.
Your Choice of Roofing Material
The type of roofing you select will influence your returns. High-quality shingles and tiles cost more and may lead you to spend more than you should. We recommend investigating the values of homes in and around your neighborhood. It probably doesn’t make sense to invest in designer shingles if most of the homes possess roofs made of less expensive materials.
Only consider premium shingles and tiles if you own a home in a high-end neighborhood. Homebuyers looking for a purchase in these areas prefer the best of everything, including roofing materials.
Hire Professional Roofing Services
Authentic Restoration offers a full range of roofing services in North Carolina. Our team of roofing professionals possesses the knowledge, experience, and skills necessary to provide the best home improvement solutions.
Poor weather and the passage of time will gradually deteriorate your home’s roofing system, causing it to command a lower price when placed on the market. So, how much value does a new roof add? It depends on whom you hire to do the job.
Enjoy a higher rate of return on your home’s new roof when you hire Authentic Restoration. Call us at (252) 904-3995 to receive your free estimate today!
