You may be wondering if a new roof will increase the value of your home. This is especially true if you are considering selling in the future. While a damaged or older roof will definitely decrease the value of your home, a new roof’s value will be affected by the real estate market, type of new roof you choose, and buyer preferences at the time. Let’s dig deeper to find out if a new roof will increase the value of your home.
Level of Damage on Existing Roof
If you are considering selling your home, bear in mind that most buyers do not have the extra money to purchase a home as well as replace the roof. Therefore it is always a good idea to replace the roof prior to listing if the roof is old, damaged, or decaying. Otherwise you run the risk of pushing away potential buyers. If your current roof is still in relatively good condition, it does not make sense to spend the money on a replacement.
Market Conditions
General housing market conditions will affect the value of your home regardless of renovations. In various studies found in the 2019 Remodeling’s report, new roofs were found to bring a 77% return rate in the upper north east region of the US. Meanwhile, the central north east region only found a 65% return. Contacting a real estate agent in your area to ask about local market conditions may help you make a decision.
Roof Material
The type of material you use for your new roof can also impact the value of your home. Some marketable aspects of choosing metal roofing panels include energy efficiency, long lifespan, unique aesthetic, and ease of maintenance. Potential homebuyers will love the idea of a roof that doesn’t need much attention, will last a long time, and won’t increase their energy bills!
Your roof is one of the most prominent features on the exterior of your home, and can have a significant impact on overall curb appeal. Not only that, but buyers prefer a home that has been well-maintained, and assume a poorly maintained roof will reflect a poorly maintained interior. With a new roof in place, buyers will feel confident that they are making a sound and long-lasting purchase.
So will a new roof increase the value of your home? Given the right circumstances and conditions – yes! If you are considering metal panels for your next roofing system, contact our team of experienced professionals at 1.855.838.9393 or info@londonecometal.com.
