New roofing gives you the opportunity to cut cooling costs while improving curb appeal and resale value.
New roofing probably isn’t the first thing that comes to mind when thinking about home improvements that increase home value. But research done by Remodeling Magazine reveals that having new roofing installed can have a big impact on home value –specifically on home resale value.
New roofing scores high in recent cost vs. value survey
Every year, Remodeling Magazine conducts an extensive survey that compares the return on investment for a wide range of home improvements. Bathroom remodels, basement finishing, new decks, replacement windows and garage additions are among the many remodeling projects included in the survey. According to Remodeling Magazine’s 2013 Cost vs. Value Report, a new roof increases home resale value by a national average of nearly $12,000. The survey also revealed that homeowners who have new roofing installed can expect to recover an average of 62.9% of the installation cost through increased home value. This statistic puts new roofing ahead of building a bathroom addition or installing a backup power generator in terms of ROI.
5 Reasons to install a new roof
- 1. Improved resale value. As mentioned above, a new roof increases home value by almost $12,000, according to the latest cost vs. value survey.
- 2. Excellent appearance upgrade. New architectural-grade asphalt shingles provide texture and color options that are truly amazing. Who would have thought you could duplicate the appearance of a rustic slate roof using asphalt shingles? It’s possible with the selection of high-grade asphalt shingles available today.
- 3. Longer warranties. Standard warranties for asphalt shingles used to be 15-20 years. Premium-quality asphalt shingles today offer warranties as long as 50 years.
- 4. Cool roof technology. Believe it or not, some types of asphalt roof shingles have an ENERGY STAR® rating because they are designed to reflect solar heat, thereby reducing cooling costs.
- 5. Avoiding building inspection issues. When a house goes on the market, the roof is one of the most visible features –not just to prospective home buyers but also to building appraisers and inspectors. A roof in poor condition can stop a home sale dead in its tracks. That’s why it’s smart to replace an old roof with a new one.
A new roof is a big investment and you should take the time to find a trustworthy contractor to complete the job. I advise never sacrificing quality for price. The extra money you spend on a proven expert is usually well spent. Here is a list of things to consider when hiring a roofer.
How much should you expect a new roof cost? The investment varies depending on your location. This new roof cost guide will give you the average cost of installing a new roof in your area.
Tim Snyder lives in Connecticut. He is a home improvement and green living writer. Tim enjoys taking on DIY projects in his spare time.