Whether you’re selling your home or not, it’s always a good idea to know how much your home is worth. Just like any other asset, taking care of your home, making needed updates, and fixing little issues before they become big problems are all parts of protecting that investment.
A lot of factors play into the value of your home: Size, location, age, and even the interior design can all influence a price tag. In our neck of the woods, home prices seem to steadily rise even when you do nothing. But that doesn’t mean you should completely forgo any home improvements when it’s time. You still have to live there until you decide to sell, right?
But some home renovations may not pay off in the long run. You have to think about the overall aesthetic of the home, the neighborhood, location, and more. It may not make sense to dump $100,000 into a 700-square-foot bungalow.
Some repairs, such as improved plumbing, updated electrical panels and wiring, and reinforced foundation not only improve your home but also protect it. In the case of a new roof, you can protect your investment while also amping up the curb appeal of your home.
How much value does a new roof add?
In many cases, a new roof is needed when the existing roof has reached the end of its lifespan, is in disrepair, or experienced some catastrophe (fallen trees, storm damage, etc.). In these cases, the return on your investment (ROI) isn’t as important as protecting the rest of the home.
Water damage from a leaky roof can cause dark spots on your ceiling, dry rot in the structure, and even black mold in the walls. So a new roof may not add value to your home, but it can certainly keep the house from becoming unlivable.
There are different situations when considering a new roof, too. For a rental, it probably doesn’t make sense to overspend on a new roof when composition shingles or asphalt shingles will do the trick. Of course, those same shingles might look wildly out of place on a custom-built, 3,500-square-foot mansion.
Roofing products–even those at the lower end of the pricing spectrum–now come in a variety of styles, materials, and colors. There’s the timeless beauty of cedar shake, economical architectural shingles, and metal or slate roofs for the very best in looks and durability (with a ticket price to match). Different materials can last 20 years, 50 years, or even 100 years.
So how much value does a new roof add? It all depends on what kind of roof you’re looking to install. Remodeling Magazine did a West Coast cost comparison between two different roofing materials and what kind of value they brought back. Asphalt shingle roof installations cost a little more than $31,000 while a metal roof rang in at almost $53,000.
As you might expect, the more you spend the higher value–but is it enough to spring for the pricier material? Asphalt shingles had a 70 percent ROI ($22,000) while metal roofing returned just 62% (almost $33,000). Based on the average cost of installation, asphalt is the most economical choice, but first looks can be deceiving.
So, yes, a new roof can increase your home value. But in most cases, not enough to make up for the initial investment. However, your roofing system plays an important part in the overall integrity of your home, so the decision on a roof replacement shouldn’t always come down to financial reasons.
Besides the overall cost of installing the two roofing materials, think about maintenance and long-term viability. Asphalt shingle roofs are cheaper but need to be replaced more often than standing seam metal roofing. You could replace a shingle roof three times before needing to replace a metal roof.
Certain materials also provide long-term savings due to increased energy efficiency. Metal roofing deflects heat more so than other materials, which leads to savings of up to 30 percent on your cooling bills. Even the color of your roof plays a part in dealing with the sun’s rays in the summer.
This doesn’t take into account maintenance costs, either. Metal roofs are resistant to moss and other growths while shingles need to be cleaned every year or so. We get all four seasons here in Washington, which can really take its toll on our roofing. In most cases, however, you won’t need to deal with as many roof repairs when using metal roofing.
Looks matter, too. Unless you have a flat roof, roofing is one of the first things people will notice about your home. Curb appeal is important, drawing in potential buyers with a great first impression. So you should consider the overall aesthetic when choosing your new roofing material.
Work With Professional Roofing Contractors
According to Remodeling Magazine, there are very few home renovations that completely recoup their costs. However, when it comes to any home improvement project, ROI goes down the drain if it isn’t done correctly. Especially when it comes to roofing: Improper installation of ANY roofing material will lead to costly repairs due to water damage.
For 30 years, Warner Roofing and Construction has been installing new and replacement roofs and is familiar with the newest materials and roofing procedures. We work in all kinds of weather, offer manufacturer’s warranties, and work efficiently and safely. We understand how important it is to get your new roof installed as quickly as possible.
We also perform re-roofing (layering shingles over an existing roof), roof repair, as well as gutter, skylight, and solar tube installations. If it’s time for a new roof but you’re unsure of your options, reach out to Warner Roofing and Construction. We offer free estimates and design roofing systems that fit your home as well as your budget.