How Much Value Does a New Roof Add to Your House?
Are you looking to replace the roof of your house? While it might be a great idea, you might also be wondering whether it will have any added value when and if you decide to sell your place?
It is a valid question and the one we are asked frequently. So we decided to discuss it in a little more detail to understand what benefits you can get from adding a new roof.
Do you need a new roof?
First thing first, let’s find out if you need a new roof or not. If you are not sure whether you need a roof replacement, here are few telltale signs that will tell you about the condition of your roof:
- Sand granules in and around the gutters
- Mold forming along the edges
- Missing/dented shingles
- Sagging
- Torn Flashing
- Daylighting coming into the attic
- Dried caulking under the flashing
The benefits of adding a new roof to your home
Most people consider a roof a way to protect the things underneath it, a roof can be much more than that. For example, if you decide to get a roof that is made out of major insulating material, you will see that your house’s temperature remains much more stable regardless of the outside weather. This, in turn, reduces your utility bills because you don’t have to run your AC/Heater all the time.
When selling, how much value does a new roof add?
When you decide to invest in a new roof, you will be adding value to your house. According to the Remodeling Magazine, adding a new roof fetches around $12000 when you decide to sell. This shows how much importance and consideration a new roof gets.
How much does a new roof cost?
This is not as simple to answer. There are a lot of different factors involved. First of all, you need to decide the type of material you will choose for the new roof. If you are on a limited budget, roof shingles are your best bet. You should keep $1500 per 10 by 10-foot area in mind for luxury materials such as tile or slate.
The next important thing to consider is the area of your roof. The larger the area, the greater the cost will be, and it will also take longer to complete. Finally, the steepness of your roof also comes into play. The steeper the roof, the more effort is required to work it, thus increasing the costs.
How does a new roof affect the return on your investment?
According to Remodeling Magazine’s 2017 edition, a new roof adds about $14,000 to the value of your house. Also, getting a new roof enhances the appeal of your home and you might get a better offer when you decide to sell.