When you are looking to purchase a home, one of the main areas that all potential buyers are looking at is the newness of the home. The HVAC system, the plumbing, the electrical system, and the roof are all major components that the new home buyer would like information on. The newer these systems of the home are, the easier it is for a home seller. Many home sellers would like to know if installing a new roof before selling increases the home value. How much does a new roof add to home value? This depends on the real estate market conditions and the excitement of the buyer.
Let’s take a look below at some more information regarding if replacing an existing roof with a new roof can increase the value of your home.
What Is The Value Of A New Roof On Your Home?
National research will tell you that a new roof can add as much as $15,000 in value to your home. This is an average and solely based on the installation of a new asphalt shingle roof. When looking deeper into the return on investment of a new roof, there are three main factors to consider. Let’s take a look below at what those are.
- Condition of the current roof – Get a local roofing contractor or local home inspection team to inspect your roof. They can tell you the condition of your current roof and if a new roof is needed. Additionally, a local appraiser will likely not sign off on a higher home value without a newer product.
- Housing Market Conditions – Depending on where you live and how hot the real estate market is will determine if a new roof increases your home value.
- Type of Roof replacement chosen – There is a significant difference in roofing values depending on the type of roofing materials that you choose. Metal roofs are more expensive than asphalt shingle roofs. A full roof replacement can provide an additional 20 years to 50 years in roofing longevity, depending on the weather conditions where you live. The average cost for these materials ranges from $12,000 to $25,000 depending on which materials are used.
What Are Some Negative Impacts?
Although a roof can be fairly expensive, it is worth noting that not installing a new and updated roof to your home can actually negatively impact the sale of your home. Let’s take a look below at how a roof can negatively impact the sale.
- Fewer offers – If there are a lot of upgrades and maintenance needs on a home, buyers will likely pass. An older and damaged roof will deter many home buyers as the home is not move-in ready.
- Longer to close the sale – If a new roof is needed on a home, this could hold up the sale of the home. Home buyers will not rush to close on a home purchase unless the home has a new roof already installed. They cannot risk any issues after closing.
- Reduced offer price – In some cases, a home buyer will accept a purchase credit toward a new roof. This reduces the offer price on the home. Also, this keeps the home seller from getting the maximum amount for the home.
What Are The Signs That You Need A New Roof?
Believe it or not, there are some very visible signs that a new roof is needed. Let’s take a look below at what those signs might be.
- Shingle damage – The moment that you see buckled, cracked, or missing shingles from any part of the roof, it is time for a new roof. In most cases, you will also see lost granules on the ground or in your gutters. Replacing one or two shingles is not ideal in this situation.
- Sagging roof – If you notice that the underlying decking of the roof is sagging, it is likely rotted. Also, it is no longer strong enough to support the roofing materials.
- Cracked Tiles – If you have clay tiles or any type of tiled roof and you see cracks throughout, there is a potential for leaks. This means it is time for a replacement.
- Hail damage – Dents, dings, or bruises on your metal, tile, or shingled roof means it is time for a new roof. Hail can do a lot of damage to a roof. It can create some underlying leaks that will result in larger damage.
Other Recommended Maintenance
Now that you know about adding value to a roof, let’s look at some other maintenance areas. One of those is solar panels. Solar panels are very popular and they fit on all types of roofs, including metal ones. However, keep in mind that if you have solar panels and get a roof replacement, you may have to pay more to have the panels removed and then put back on.
Next, it is important to know the type of shingles you have on the roof of your home. Asbestos shingles were used on homes built between 1920-1986. Considering roofs last about 20-50 years, depending on where you live, you should have a roofer look at the roof and also make sure that it doesn’t have asbestos.
Lastly, roof vent pipes are found on the roof of a home. Many homeowners wonder if it should be covered as the purpose of it is to allow air to escape the plumbing. However, it should only be covered to keep debris and bird nests out.
When Do I Call A Professional?
Anytime you are needing a new roof or roof repair, you will need to contact a professionally licensed roofing contractor. They can walk the roof and determine what is needed for repairs. In most cases, they will recommend a full roof replacement. Also, call on your local home inspection team to inspect the roof with your roofing contractor. They can ensure that no corners are cut and that the right roofing material is chosen.
When it comes to selecting the right roofing material for the curb appeal and functionality of the home, utilize your local home inspection team. They have looked at hundreds of roofs in your local area and could tell you what works best for the local climate and culture of the community. Call on Avalon Home Inspections, to conduct your roofing inspection during a complete home inspection in Atlanta, GA.