You're planning to sell your property at higher than its regular market prices. In a few blogs and videos you've read and viewed, a roof renovation can do so much to improve its value. Functionality is critical for homebuyers, especially younger couples or families, because they aim for protection rather than curb appeal.
However, sacrificing curb appeal for functionality will actually limit your target buyer market. Aside from roaming and prospecting homebuyers, banks and real estate chains look for homes with exceptional appeal and are willing to buy at higher prices.
Furthermore, curb appeal increases your property's perceived value. With more homebuyers highly interested in your property costs (especially if you have it competitively priced), you can maintain that appraised amount or even go beyond the cost.
A new roof that doesn't sacrifice aesthetics uses asphalt shingles, clay and slate tiles, and metal roofing. Each one of them ensures beautiful roofs coupled with long-term functionality and impeccable durability. Homebuyers won't skimp on high-quality roofing -- many prioritize value-for-money rather than a home with unpredictable roofing material performance.
You might need a few more months to give yourself better funding for a new roof. However, your investment in time and resources will remain a great and value-adding purchase.
IKO has an excellent post about the value a new roof adds to your property's overall market price. Read more about it below.
A new roof is always a powerful marketing tool when you’re looking to sell your home. As your real estate agent will likely tell you, buyers appreciate a new roof because they know it will save them the hassle of a reroof. Most buyers can’t handle large expenses, like a new roof installation, after they’ve just purchased a home. To err on the side of caution, they simply may not put in an offer on a home with an older roof. Does that mean that adding a new roof will increase your home value? It depends.
A roof that is nearing the end of its life span or is leaking will decrease your home value and is worth replacing. However, investing in premium shingles may not necessarily get you the home value boost you expect. It’s hard to pin down exactly how much a new roof will increase your home value. You’ll need to weigh factors, like roof condition, real estate market conditions and buyer desires.
We’ve collected the research on how much new roofs add to home value. We’ll walk you through which factors make a new roof a smart investment, and which reduce its value. If it turns out that a new roof is worth it to help you get the most money for your home, you’ll want to read our exploration of which shingles will get you the best return on investment. Lastly, we’ll cover some legal concerns you should look into when you’re considering whether you should replace your roof.
How Much Does a New Roof Increase Home Value?
The research that has been conducted on how much value a new roof will add to your home is somewhat mixed. One study finds that a new roof is a reasonable investment. Remodeling’s 2019 Cost vs. Value Report found that the average American homeowner spends $22,636 on a new asphalt shingle roof of midrange quality. That new roof will increase the home’s value by $15,427, on average. That works out to 68 percent of the investment. (Continued)
If you need excellent roofing in Littleton, CO, you can always count on us at Roper Roofing for all your needs. Contact us today to learn more about everything that we can achieve with you.