The roof is the crown of the home, keeping you and your family safe from the elements offering protection from the wind and the rain. The roof also plays an important role when it comes to mitigating your monthly utility costs. Provided it’s in good shape, it can also help to boost your home’s curb appeal and thereby its resale value.
There are many projects that can be completed around the home that serve to increase the price tag if you decide to sell. Most people think about a landscaping makeover or new kitchen countertops when they are considering ways to really increase their home’s value.
Most people don’t think of reroofing as a renovation that could significantly benefit their bottom line. This is a major missed opportunity! Recent research has shown that a new roof has the potential to add as much as $12,000 to the overall value of your home when it comes time to sell. When it comes to renovations that can add value to your home, a new roof offers a better return than either adding a backup generator to your property or installing a new bathroom.
Why Install A New Roof?
- Increase Curb Appeal: Let’s face it, a new roof just looks better. And with today’s technology, you can choose a roofing material that suits you. New shingle types available have been designed to mimic more luxury materials. That means you can have a simple asphalt shingle that mimics slate or stone.
- Wow Your Appraiser: If you are looking to sell your home soon, having a new roof put up top can ensure that you don’t run into any issues when it comes to the dreaded home inspection.
- Increase Your Home’s Value: As we’ve already discussed, putting a new roof on your house can help you fetch more when it comes time to sell. The fact is you probably need to have your roof replaced at some point anyways, so getting that extra equity just a bonus!
How Does A New Roof Contribute To The Home’s Value?
So, why does a new roof impact the value of your home so significantly? To answer that you really need to stop and think about all of the amazing things a roof does for your home.
Everyone knows that the roof is key in protecting your home from the wind and rain. Of course, these are very important functions. However, the roof also plays a critical role when it comes to regulating the temperature inside your home. Proper insulation of the roof and the attic under it are vital to ensuring your home is energy efficient, keeping your monthly utility bill low.
The functional properties of the roof definitely play a role in contributing towards your home’s overall value. But aside from all that, a roof that is properly done just looks nice. This is what we call curb appeal, and often curb appeal translates to dollar signs. It’s simple really, the nicer your home looks, the more you can get for it when you go to market.
Whether you are selling today, a few years from now or never, your home needs a good roof. No matter what your plans, if you are installing a new roof you can take comfort in the fact that it’s a solid investment that is sure to bring added value to your property. If you are thinking about selling your home soon, you should talk with a certified roofing contractor to see if re-roofing solely for the purpose of selling will be worth your while.