Does a New Roof Increase Home Value ?

 The study on how much a new roof will increase the value of your property is varied. According to one study, a new roof is a good investment. According to Remodeling's 2019 Cost vs. Value Report, the average American homeowner spends $22,636 on a new mid-quality asphalt shingle roof. On average, a new roof will improve the value of a property by $15,427. This equates to a 68 percent return on investment.

However, other studies have discovered that a new roof increases the appraised worth by a significant amount. According to research produced by the National Association of the Remodeling Industry (NARI), new roofs deliver a 109 percent return on investment, which means you might profit from your new roof.

1. The State of Your Current Roof

Keeping your roof in good shape is an important aspect of house upkeep. It's similar to keeping the plumbing in good working order. Homeowners will be highly offended if they notice a leak since they expect you've taken good care of the plumbing. They will be concerned not only about the leak, but also about the home's other maintenance issues. In the eyes of a buyer, all roofs are the same. Most home buyers anticipate the roof to be in good shape, and if it isn't, they will be hesitant to purchase. After they've bought a house, few people have the money or energy to do extensive roof repairs.

2. Market Situation

In some markets, adding a new roof does not boost home value. The value of all home modifications is influenced by the state of the property market. Your best bet for understanding the market conditions is to seek guidance from area appraisers and real estate brokers. There is, however, some regional data that can assist you.

3. You've Decided on New Shingles

The shingles you choose may have an impact on the amount of money you get back on your new roof. Consider that the homeowners questioned in the NARI research spent $7,500 instead of $22,636 as the average homeowner in the Remodeling report. Clearly, there is a significant difference. Those that spent more money may have invested in more expensive shingles and accessories, as well as other amenities like skylights.

What is the significance of this? The homeowners in the Remodeling survey paid significantly more than the $7,796 USD national average for reroofing. The homeowners in the NARI report, on the other hand, kept their costs close to average. Spending less money appears to have yielded a substantially larger return for those homeowners.

Is it Time to Replace the Roof on Your House?

If you've spoken with a real estate agent and determined that a reroof is in your best interests, be sure to research the types of roofing material used on other properties in your community to get the most out of your money. Installing energy-efficient or premium shingles may help you earn a higher offer if buyers in your region are looking for those features.

Consult a professional roofer in Gresham when choosing your asphalt shingle color and style, especially if you want to improve curb appeal. Tell them you want your new roof to appeal to as many potential buyers as possible.

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