Is a New Roof a Good Investment?

Asphalt roof home
If you are in the market to sell your home, you may be considering a roof replacement. The act of upgrading our house or property in any way automatically increases the resale value. However, you also have to keep in mind you are going to be spending money on the upgrade or renovation—not to mention time and energy on your part during the construction process. To make sure you are able to get a new roof in order to increase the appraisal, check out these common topics among homeowners in the housing market.

Will a New Roof Increase Appraisal Value

According to HomeAdvisor and Remodeling Magazine, you can install a new roof and have a positive impact on your home value during an appraisal. A home resale value goes up by approximately $12,000 according to the national average. That’s quite the investment opportunity for a homeowner with a new roof having a better ROI than adding a new bathroom or a backup power generator.

But just how much are you going to recover from the cost of the roof replacement? The report shows that homeowners recoup an average of 63 percent. This means you will get back $63 for every $100 you spend on installing a new roof in terms of increased home value. That may not sound like a lot on the outset based on a 100 percent scale.

Yet if you invest $7,000 on a new asphalt roof, you can expect to recoup $4,410 of that when you resale your house. As you will see when we talk about metal roofing, that is on the lower end of the scale of recovering costs spent on roofing. A metal roof can recoup you almost all of your investment.

However, when you realize how much money you can also lose on your home resale value without a roof replacement when needed, the scale tips in your favor. You can use this average to help you determine, based on the cost of your particular roof replacement, whether or not it is the best investment for you.

Why Would I Want to Get a New Roof

In some instances, you want to get a roof replacement before putting your house on the market. If your existing roofing leaks or disrupts the integrity and safety of your structure, then you will want to get a roof replacement to ensure the safety of the new occupants. In most cities, you are required to get a home inspection prior to selling your home. If your roof does not pass the inspection, you will need to get a roof repair or replacement in order to satisfy the requirements of a mortgage lender or banker. Otherwise, the future homeowners will be unable to close on your house.

In the case that you are able to secure a sale on your home without having a roof that passes inspection, you are at risk of losing money. The potential buyer will want to negotiate in most instances—and not in your favor. The buyer will want to bring down the asking price for the house in order to account for how much they will have to spend on a roof replacement. If you are still on the fence on whether you need to install a new roof, here are a few more reasons:

As you factor in aesthetics and functionality of a roof replacement, you start to notice that the value of a new roof extends beyond the sticker price. You are also gaining benefits in reduced utility bills for the lifespan of the roof. In terms of aesthetics, this extends beyond curb appeal. Create a real sense of space in your community with the type of roofing you choose. Whether you stand out from the crowd, such as with a metal roof in a neighborhood of asphalt shingled rooftops, or you blend in—your roofing type is a huge part of your overall housing style and theme.

How Much Does a Metal Roof Increase Home Value

Metal roof home
Homeowners interested in a new metal roof to increase home value will be pleased to know you can get great gains from this type of roofing. A new metal roof can increase your home’s resale value by up to 6 percent over an asphalt roof. In addition, you can expect to recover even more of your investment with a metal roof.
SFGate reports that a metal roof has a recoup estimate of nearly 86 percent on average across the nation. However, if you live in a certain region you can expect to get back even more of your investment. East Coast homeowners can anticipate earning up to 95 percent of their investment back in home resale value. Metal roofing offers the greatest ROI in terms of a roof replacement. Keep in mind, in comparison to an asphalt roof, you have to pay more for the installation of a metal roof.
This is where your cost analysis of a local roofing company services for metal roofing replacement will make all of the difference. Determine if you can afford the initial investment into metal roofing, which is on average $10,400 to $12,500. Recall how a roof replacement will, on average, increase your home resale value by $12,000? Right here you can see that you will be able to get back your investment. Plus, you are reaping the previously mentioned benefits of a new roof for a home that is being prepared for the market.

How Much Does an Asphalt Roof Replacement Increase Home Value

House with a new roof
A new roof replacement of asphalt shingles will also increase your home value for resale—just not as much as a metal roof. However, you can still expect to see an estimated $12,000 value increase. So much does an asphalt roof replacement cost? You can expect to pay anywhere from $5,000 to $10,000 for a new asphalt roof according to HomeLight.
This can be a fraction of the cost of a metal roof depending on your geographical location and the roofing company market in your area. However, for many homeowners asphalt shingle roofing is the way to go simply because of architectural design. If you live in a Homeowners Association (HOA) community, for instance, you may be required to use a certain type of asphalt shingle for your roofing.

Bottom Line: A New Roof is a Good Investment

If you are interested in getting a roof replacement as a way to improve your home resale value, then a new roof is the way to go. However, you also must factor in the cost of a new roof, as well as the time and energy spent dealing with finding the best value on roof replacement options. Start by choosing a solid roofing company that will work with you to decide on the best roofing solution for your housing type, neighborhood, and budget.

Roof Damaged? Need a roof replacement? Assurance Residential offers top quality roofs and customer service that can’t be beat in the Lawrenceville, GA and surrounding areas, including Atlanta and Athens. Choose a company who are industry leaders in the residential roofing industry with over a decade in business! We use the best quality products and offer the best in overall protection. Call 404-600-ROOF to set up a FREE inspection today!
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Ryan Calder

Ryan Calder is the owner of Assurance Residential, based out of Lawrenceville, GA. He is a licensed general contractor with over 20 years in the construction industry.​

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About Assurance Residential

Assurance Residential is a family-owned general contractor in northeast Georgia that has been in business for over a decade. We specialize in roof repair, roof replacements, metal roofs and gutter installations.

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