Do New Roofs Increase a Home’s Value?
Here is a general rule of thumb when it comes to the repairs and upgrades on a home that will increase its value. The more foundational the repair, the higher the value increase.
A luxury upgrade to a home such as installing a pool will not add much value to the home. A foundational upgrade, such as a new roof, will.
Depending on the age of your roof, installing a new roof on your home you plant to sell is one of the first things I would recommend. Here is why …
According to recent surveys and studies, a new roof can increase the value of a home by $12,000 or more. Homeowners receive a 62% return on investment from installing a new roof onto their home.
The truth is, there are some home buyers that want a fixer upper, but most do not. Most want to spend their money on touches that will make a home feel like their own, not on roofing or structural repairs.
The more of the “boring” and “structural” costs you cover prior to listing the home, the more likely you are to both increase the value of your home and sell it fast.
- A new roof will have new shingles which can be attractive and eye-catching and add curb appeal to the home.
- The new shingles should also be ENERGY STAR® rated and help reduce energy costs for the new homeowner, which is another selling feature.
- For peace of mind, new roofs in 2017 come with anywhere from 25-50 year warranties if installed by a certified and reputable roofing service near you. This provides a sense of security to the buyers and it is worth investing in the installation opposed to attempting a DIY installation.
- A new roof should also aid in a smooth home inspection as oftentimes a roof is one of the main causes of concerns for new buyers.
You can see from my points above that a new roof is a very sound investment in your home. I would recommend installing a new roof 2-3 years before selling the home in order to recoup some of the energy-cost benefits as you should still have a healthy ROI and 20-45+ years left on the warranty.