A new roof may not be a priority for most homeowners as long as the interior of their property is appealing. But the truth is that a new roof can add value to your property. Thus, a roof update is another way to make your house sell faster if your property is on the market.
Remember that it’s not just the inside of your home that buyers look forward to seeing. They will also look at the outside. So, this begs the question, how much do new roofs increase market value?
Determining Value
You will be happy to know that the increase in market value can be substantial. However, the results will vary depending on certain factors, such as the new roofing material. For example, according to Remodeling’s 2021 cost vs. value report, installing a new metal roof can increase the home value by 25,816 dollars. Metal roofing costs and performances will vary by manufacturer, so be sure to hire a trained professional for the job. Another factor to consider is the type of roof you will use for replacement, as some materials are more attractive, expensive, and preferred by most homebuyers.
Roofing Types
Next, let’s dive into what to consider before making the replacement, such as the roofing material. The most popular roofing materials nowadays tend to be asphalt shingles and metal. Asphalt shingles are sturdy and easy to install.
Plus, the report lists that the return on investment is over 60 percent with this material. On the other hand, metal roofing tends to be low maintenance, incredibly durable, and aesthetically pleasing. According to Remodeling’s 2021 study, the investment return for metal roofing is slightly below 60 percent.
Repairs or Replacement?
Maybe part of the roof is still repairable, and you need not spend more by replacing the entire thing. Check with an expert to see if replacing the whole roof with an entirely new one will make it more effective or more advantageous for you in the long run. Speaking of experts, let’s move on to one of the most vital factors in this project—the installation team.
Hiring Reliable Roofing Contractors
So how much do new roofs increase market value? As mentioned above, results will differ, but hiring experts will help you get the best experience. Plus, this is just one of the many reasons to hire trained professionals for roofing installations.
Some roofing contractors may not be as efficient as other companies. So look around or browse online before hiring anyone to replace your roof. Ensure the roofing contractors have a proper permit and can carry out the task effectively. As you can see, replacing a roof requires careful planning, but the reward can be worth the effort in the long run.