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Can a New Roof Increase the Value of Your Home?

Posted on November 12, 2023

Can a New Roof Increase the Value of Your Home?

If you’ve ever been shopping for a home, you know one of the biggest factors to consider is the condition of the home’s roof. Without a strong roof, your home can be susceptible to damage from leaks, inclement weather, and pests. It isn’t just homebuyers that need to worry about a roof’s condition, either. If you plan on selling your property, repairing or replacing your roof may be of the utmost importance. A residential roofing company can provide high-quality services, improve the look of your home, and increase value all at once! Here’s how fixing your roof can protect (or even add to) your investment.

New Roofs Offer Protection From the Elements

If you’re planning on selling your home, know that home buyers want a home that is safe and secure for their assets and family. Although roof leaks might seem like a small issue, they are anything but. A future homebuyer will want to buy a home that has a strong roof and that they won’t have to spend money on renovating. As such, a new roof can help by providing protection from the elements and increasing a buyer’s confidence. Your new home will be more valuable if it has a new roof, since a new roof is seen as an investment into the protection of a homebuyer’s assets!

New Roofs Provide an Impressive Return on Investment

Any home renovation project has the potential of giving a return on investment, also known as an ROI. The ROI is the return on investment that a homeowner will have once they spend money on the renovation. For instance, the ROI on roofing is around 109%, according to Home Advisor. This means that homeowners will get back what they paid for the roof with an additional 9% added on top! Why is this? For starters, most homeowners know just how expensive it is to add a new roof to the property. These homeowners aren’t wiling to pay for these renovations upfront, but don’t mind the renovation adding value to the home. This additional home value can then be paid off through the mortgage and can mean bigger savings and more value for homeowners later on.

New Roofs Provide Longevity

When most people buy a home, they do so with the intention of living there for the foreseeable future, possibly starting a family, or even buying a new home during their retirement. For these homeowners, having a new home with a roof that lasts long helps seal the deal when making their purchasing decision. Keep in mind when doing your renovations that the life expectancy of a roof depends on the type of roof. For instance, TPO roofs can last from 18-20 years, while EPDM roofs can last 15-18 years and PVC roofs can last up to 30 years, according to Roofing Talk. Buyers and home investors want to know the property will stand the test of time. They’ll likely extend a higher offer for your home if they know the roof has been well-maintained and will last for years to come. Talk to a residential roofing company for material options.

New Roofs Improve the Look Of a Home

Curb appeal can also help improve the value of your home. A home with chipped and faded siding, broken roof shingles, and general disarray will not be valued highly. In fact, a home that is poorly maintained might also drive down the real estate value of the surrounding properties. It’s important to fix any issues with your home if they are visible from the curb. This is also known as curb appeal. Fixing the roof and other visible issues on your home makes it more likely that home buyers will want to purchase your home and continue to bid against other potential buyers. A residential roofing company can help you replace your roofing shingles and help you create a new design for your home.

Replacing your roof works wonders for your home value. If you’re ready for a new roof, give Prestige Roofing LLC a call today. We’d be happy to help.