The return on investment (ROI) on a new roof is a hot topic as newer, more durable roofing solutions become available. To make the best choice for your home, whether you’re building or renovating, you’ll need to know the up-to-date facts about how roofs affect home value in the United States. This all-inclusive guide walks you through the essentials, from ideal roof materials to maximized profits.
How Can You Add Value to Your Home Before Selling It?
Giving your home a well-needed sprucing up before putting it on the market is an excellent way to tick potential buyers’ boxes and increase the likelihood they’ll make a purchase. Some facets of your home require a near-complete remodel, while others can be done relatively cost-effectively, so it’s crucial to discern which refurbishments are worth your time and money. Some key features to upgrade include:
- Repaint tarnished walls: A home’s interior and exterior walls are like the cover of a good book — the reader is far more likely to read it if its cover looks polished and inviting. Smoke residue, leak stains and strange colors should be painted over so that the house looks well cared for from the outside and the inside.
- Fix water damage and mold: Nothing brings peace of mind to a potential buyer faster than being told a house has been inspected and cleared of water damage and mold.
- Replace worn or old roofs: Roofs are a key selling point for buyers. If your roof is made of asphalt shingles and hasn’t been replaced in the last decade or two, chances are there’s some damage that needs tending to. Upgrading your roof can be the difference between a signed contract and a polite goodbye.
While some refurbishing endeavors are cost-effective, like adding a new coat of paint, others can require a more considerable investment. Remember that these bigger projects tend to yield more positive monetary results when it comes time to price the property. Once you’ve run the numbers, you may find you’ve profited from a full exterior repaint or a roof redo.
Should I Repair or Replace My Damaged Roof?
Many states in the Midwest have laws that make it compulsory for sellers to report any structural defects to buyers. Illinois, for example, has the Residential Real Property Disclosure Act, which makes it illegal for homeowners to conceal information about their damaged walls, doors, windows, floors and roofs. If some shingles have fallen off your roof or you’ve spotted cracks in the asphalt, you’re required by law to either fix it or disclose it before making the sale.
Fixing a roof in disrepair, however, is not always preferable to upgrading the entire thing. While a few patches may work for minor issues on newer roofs, buyers will likely be more wary of homes with aged roofs, even without visible signs of damage. Replacing your old, damaged roof with an environmentally friendly, durable, modern roof is your best bet to get maximum value for your home.
Does a New Roof Increase Home Value?
Yes, studies have shown that upgrading your roof can add real value to your home. Exterior remodeling yields the best ROI for homeowners. Along with garage doors, roofs are the most lucrative house feature to renovate. A report by the National Association of the Remodeling Industry (NARI) revealed that remodeling your roof can yield a 100% cost recovery. That means all other savings you get from your upgraded roof amount to profit.
What Is the Best Roof for Resale Value?
Roofs that generate the most value for money are always those made from durable, aesthetically pleasing, sustainable materials. Three of the best roofing materials for adding resale value to your home are clay, slate and metal. Each comes with unique advantages, and the right choice for your home depends on where you want to save money, what kind of house you have and where you live.
1. Clay Roofing
Roofs made with clay tiles are classically beautiful and naturally sustainable. They can last up to 100 years with some maintenance and regular inspection. Clay tiles are also adept sound mufflers, so rain and hail make very little noise within the house. Compared to metal roofs, however, they are more susceptible to the effects of moisture, so they can grow mildew and mold if left untreated for a long time.
2. Slate Roofing
Slate shingles, like clay tiles, are naturally durable and can last 100 years or more with the proper care. They are a popular choice for historic buildings due to their sleek, earthen look, although they are in a higher price range. The robust, heavy consistency of clay and slate makes them excellent at withstanding wear and tear from weather. However, their weight does put your home’s frame under more pressure.
3. Metal Roofing
Metal roofing is a best-of-both-world material, lasting up to a century but requiring less maintenance than clay and slate. Metal roofing comes in various styles, including shakes, tiles and shingles and can be painted to resemble other roofing materials for cohesion with your home’s aesthetic. It also outperforms asphalt, clay and slate in sustainability, energy efficiency and overall cost-effectiveness.
How Much Value Does a Metal Roof Add to Your Home?
Adding a new metal roof to your home can boost the resale value and result in other savings benefits:
- Savings on repairs and maintenance: Metal roofs are extremely durable, resisting common maladies like cracking, rotting, weather damage and the effects of time. This means you’ll spend less money on repairs during the roof’s lifetime. Choosing metal roofing can also lower your homeowner’s insurance costs by 35% or more.
- Better insulation: The reflective quality of metal roofs means sunlight bounces off them, keeping the inside of your home cool when it’s hot outside. Metal roofs are often installed with added insulation, helping keep heat in during winter months. These qualities save you money on electricity by reducing the need for air conditioners and heating systems.
- Tax credits for sustainability: Homeowners who upgrade certain facets of their house to be more energy-efficient can receive a tax credit. Metal roofs count as “building envelopes,” and building envelopes revamped to meet International Energy Conservation Code (IECC) standards can earn their owners up to 30% of their material costs back.
Upgrade Your Roof and Your Home’s Value With Cornett Roofing Systems
Remodel your roof and enjoy the benefits of increased home value, durability and savings with Cornett Roofing Systems’ quality roofing solutions, including a variety of metal roofing options. Our family-owned business has provided professional roofing products and installations to customers in the Midwest for over 30 years, so we’re well prepared to streamline your roof upgrade. Get a free estimate from us today and future-proof your home for many decades to come.
