One of the most common reasons homeowners embark on home improvement projects is to increase the property’s value before putting it on the market. Even if you don’t plan to sell the house anytime soon, a high home value boosts your overall net worth and available home equity.
When considering different projects, you might ask, “How much value does a new roof add to my home?” Although most people invest in a roof replacement in Sugar Hill, GA, to deal with damage or deterioration, embarking on the project can add some value to your property.
The short answer to the question, “How much value does a new roof add?” is, like with so many other projects, “it depends.” Unlike a kitchen or bathroom renovation that offers a potential return on investment of over 100%, you won’t see the same return from a new roof.
The average ROI on a roof replacement is about 60% to 70% of the cost of the roof and labor. This still represents a substantial increase in home value, making it a powerful incentive to replace your roof before selling. How much any individual property gains in value depends on multiple factors.
The type of roofing material you select for a new roof can play a significant role in how much it increases your property value. A new asphalt roof, which is most common in Sugar Hill, will cost significantly less than a metal roof to install, but asphalt’s lifespan is only about half that of metal. The overall ROI for a metal roof is less than that of asphalt because of the hefty upfront cost.
The condition of your existing roof can make a big difference in the answer to “How much value does a new roof add?” If the current structure is in poor condition with leaks and other problems, choosing to install a new roof can solve them. A solid, reliable, and energy-efficient roof will always be worth more than one that doesn’t protect your home against the elements very well.
Roofing technology is constantly developing and improving, and if you have an older roof, it likely lacks some of the features that increase energy efficiency and reliability. For example, modern roofing shingles can better reflect solar energy away from your home than older products, which can help slash cooling costs during a hot Sugar Hill, Georgia, summer. You may not see the return on your investment in terms of a higher home value, but newer technology can save money on other expenses.
Installing a new roof means getting new product warranties and, in many cases, workmanship coverage, too. If anything goes wrong, you’re less likely to have a huge bill to pay. If you plan to sell your home, a brand-new roof still under warranty coverage could be a strong selling point.
Although you may not be able to quantify curb appeal in actual numbers, when the roof is attractive and in good condition, it improves the overall perception of your property. The better your home looks, the more it’s worth to buyers.
When it’s time to put your home on the market, the thought of spending tens of thousands of dollars on a home improvement project like a new roof may not be appealing — especially when you won’t get all the money you put into the project back when it comes time to set a price.
Still, a pre-sale roof replacement does offer some advantages that make the selling process easier, such as:
When people shop for homes in the Sugar Hill, Georgia, area, they are more likely to choose move-in-ready properties that won’t require a major construction project. If the roof is on its last leg and will need replacing soon, spending the money on an upgrade now can mean more money in your pockets and fewer headaches later on.
Regardless of any plans to sell the property, you should replace a roof that’s in bad condition to ensure your family’s safety and prevent more widespread or significant damage to the rest of the house. The question of “How much value does a new roof add?” will be a moot point if the roof leaks and water damage causes so much structural damage that the house is in danger of collapsing.
Although you should start planning to install a new roof when the roof reaches 20 years old, you may need to start thinking about a new one when you notice any of the following signs:
In some cases, professional roof repair may solve these issues, but if the deterioration is extensive, a replacement is a more cost-effective and safer option.
If you need to replace your roof before selling your house or have concerns about the existing structure and want professional input, get in touch with Adams & Sons Roofing in Sugar Hill, GA. These expert contractors will provide an honest assessment of its condition and insight into your options to ensure you have a dependable roof over your head that protects your family and your property value.
Homeowners throughout the metro Atlanta region trust Adams & Sons Roofing for exceptional work at reasonable prices. When you choose this local company, you won’t need to worry about “how much value does a new roof add?” because you can trust you are getting the highest quality workmanship at the best local rate. Call for an inspection and estimate today.