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While it may not be the first thing that comes to mind to help increase the value of your home, getting a new roof is a great way to boost your home's resale value and curb appeal.
How Does a New Roof Add Value?
Having a new roof installed comes with a host of benefits that increase the value of your home, some of which include:
- Curb appeal: If you want to sell your home and the roof is in obvious need of replacement, prospective buyers will notice, and most likely look elsewhere for a home that won't come with repair costs. The additional cost of a new roof is enough to turn most buyers away, but replacing it yourself keeps them interested and increases the resale value of your home.
- Energy efficiency: A new roof comes with new (and better) insulation and sealing, meaning less treated air escapes. This is why a new roof offers a higher degree of energy efficiency, which saves money on energy costs and increases the overall value of your home.
- Reduced maintenance costs: The older the roof, the more it takes to maintain it. It is not uncommon for old roofs to lose shingles, spring leaks, or result in water damage, all of which can be costly depending on the circumstances. And these are things prospective buyers keep an eye out for, looking to avoid any additional costs above buying the home. A new roof means lower maintenance costs, which means a higher home value and a better chance of selling.
- Standing out: Just because you're replacing an existing roof doesn't mean you have to replace it with an exact replica. There are a wide range of roofing options that allow you to change and improve the feel, functionality, and look of your home. There are eco-friendly roofs, metal roofs, and dozens of tile-roof options out there. A new roof sets your home apart from the others on the market and gives you a leg up on the competition.
- Transferable warranties: There are roofing companies that offer a lifetime transferable warranty on labor and materials that can be passed to whoever purchases the home. Most buyers are willing to pay a little more for a house with this type of warranty on the roof, as it saves them time and money down the road.
When to Replace Your Roof
It is often difficult to know when it is time to replace your roof. Different materials and styles have different requirements and lifespans, so no two roofs are necessarily the same. But your roof does offer signs that it is time to be replaced. These include:
- Age: As stated above, roofing materials have varying lifespans, so it is important to know the average life of your roofing material. The most common roofing material is asphalt shingles, which generally last for 20 to 30 years.
- Algae or moss growth: Though not exactly detrimental (this is a cosmetic issue), it is a sign that your roof is getting old. Older roofs with less sealing are more susceptible to algae and moss growth, so if you find either growing, it is a good sign that it's time for a new roof.
- Damage: If you see visible deterioration or wear to your shingles or other roofing fixtures - such as shingles or tiles that are broken, cracked, curling, or missing - it may be time for a new roof. As a roof gets older, it is more likely to incur damage. The more damage your roof shows, the more likely you are to need a new one.
- Sagging: A structural issue that indicates a larger problem, sagging is a dead giveaway that it's time to get a new roof.
If you suspect it's time to replace your roof, it's important you hire a professional to perform an inspection. This is particularly true for structural issues such as a sagging roof.
How Much Does a New Roof Cost?
New roof costs depend largely on the size of your home, style and pitch of your roof, the materials you choose, and the seller/installer you go through. The following is a general pricing guide to provide an idea of what you can expect to pay for your new roof.
- The cost of a new roof ranges between $2,000 and $12,000.
- The average homeowner pays between $4,500 and $8,700 for a new roof.
- The national average for the cost of a new roof is around $6,500.
- Contact a professional to see whether your roof needs replacing or if it just needs repairs. Paying an average of $550 to repair your roof is the better than paying thousands of dollars when you don't actually need to.
It is important to note that labor and materials costs vary greatly depending on your location and the seller you purchase through, as well as the complexity of installation and the roof itself.