How Does a Roof Add or Decrease a Home’s Resale Value?

One of the most important things for homeowners to consider is how much their property will resell for. When thinking about selling your home, one thing that can make or break its value is the state of your roof. A poorly maintained and damaged roof can decrease your home’s value by several thousand dollars, and vice versa! In this blog post, we explore how the state of your existing roof can affect the value of your home.

Affects curb appeal

A new and well-designed roof goes a long way to increase a property’s curb appeal. Thus has a significant impact on the price a home will fetch. It is important to note that the difference in selling prices between houses with good and bad roofs can be several thousand dollars! A potential home buyer is likely to spend more on a home with a new roof than on one with a damaged or aging roof. 

Affects the marketability of your property

The roof’s condition also affects how easy it is for potential buyers to imagine themselves living in your house. A run-down metal roofing, peeling paint, and overgrown lawn make it difficult for buyers to focus on the home’s features. In contrast, a well-maintained roof conveys that the homeowner cares about their property. This makes potential buyers more likely to consider your home as an option and increase its resale value by thousands of dollars! 

Affects a home’s energy efficiency

The condition of a home’s roof can also affect its energy efficiency. A new roof will be more efficient at keeping the heat in during the winter months, which is vital for homes that rely on natural heating (like most older homes). This means the residents pay less to keep their living space warm. This is an attractive feature that can justify a higher asking price for potential buyers.

Determines maintenance needs

A roof’s condition is a good indicator of the home’s maintenance needs. Buyers know that if there are problems with a roof, there will likely be other unseen issues as well. This can make it harder to sell your property and may even require some costly repairs before you do so. A new or carefully maintained roof means that any potential issues should be easy to identify and fix, which will help you get top dollar for your property. 

Affects insurance premiums

The state of your roof also has an impact on your insurance premiums. A newer, well-maintained roof will lower the premium than an aging or damaged roof. This is because a newer roof is less likely to suffer from damages that could lead to costly repairs down the line. Homeowners should keep this in mind when they are shopping around for insurance, as it can save them money in the long run. 

Affects appraisal value

Lastly, a new or well-maintained roof can increase a home’s appraisal value. A certified appraiser will provide an estimate of your property’s current market price based on the condition and age of its features. An old roof with significant damage may require roof repair before it is considered safe to live in; this means that some costly repairs need to be made before the home can be considered in good condition. This reduces a property’s appraisal value, which will likely result in being offered less for your house when it goes up for sale. 

How much value does a new roof add?

Replacing your roof can add value to your home, but it depends on several factors. First, is the roof in good condition? If not, you may need to make significant repairs before selling, or this can reduce your home value. Second, what type of materials were used for the new roof? Is it worth more than standard asphalt shingles? Generally, roofs made of higher-quality roofing materials will add up to thousands of dollars in resale value!

How much does a new roof cost?

The cost of a new roof varies depending on the size and pitch of your roof and the materials used. Asphalt roof shingles are the most common roof type and will usually require regular maintenance but maintain their value more than any other material of a similar price range.

When should you replace your roof?

The general rule of thumb is that a roof should be replaced every 20-25 years. However, this varies depending on the type of roofing material and the climate where you live. If you are unsure if it’s time for a new roof, consult with a professional to get an accurate estimate. Roof replacement before selling your home is always a good idea, as the roof increases home value and makes it easier to sell. 

Get Professional Help!

Are you trying to upgrade your roof before selling your home? At Platinum Roofing, we have the experience and knowledge to help you get the most value for your home. We can recommend the best materials and styles for your property, as well as provide a competitive estimate for the cost of roof replacement. Contact our roofing company today to learn more!