Roof Renovation: How a New Roof Can Boost Your Home’s Resale Value

There are several factors that can affect a home’s value, including whether or not it has a new roof. While a new roof may not completely recover its installation cost, it can impact a home’s value in multiple ways, such as the type of roofing materials used and the condition of the existing roof. So, let’s explore how a new roof could potentially increase your home’s value.

How Can a New Roof Increase Home Value?

Upgrading to a new roof can significantly improve the appearance of your home and potentially increase its value. A well-maintained roof is one of the first things that people notice when looking at a property, so a visually appealing one can make a positive impression. On the other hand, an old roof with damaged shingles can detract from a home’s overall appeal and may decrease its value.

A new roof can increase the appeal of your home to potential buyers, as it provides the assurance that they won’t have to worry about costly roof repairs in the near future. Additionally, many new roofs come with a transferable warranty, which can be a significant selling point when you decide to sell your home.

How Much Can a New Roof Increase Home Value?

Based on the 2023 Cost vs Value report from Remodeling Magazine, replacing your roof can add an average resale value of $17,807 to your home. While you may not recover the total cost of the replacement in the sale of your home, getting a new roof can still be beneficial, depending on the condition of your current roof. Asphalt roof shingles, like GAF Timberline HDZ® Shingles, are a popular choice in the Wilmington, NC Area and can help increase the value of your home.

Should You Replace Your Roof before You Sell?

There are multiple factors to consider when deciding whether to replace your roof before selling your home, with the impact on home value being just one of them. For example, an older roof can lower curb appeal and potentially decrease the overall value of your home. Additionally, visible damage such as broken or buckled shingles, sagging, water leaks, or granule loss can also contribute to a lower selling price. Therefore, it’s important to assess the condition of your roof and weigh the potential impact on your home’s value before making a decision.

Furthermore, the majority of home inspectors conduct thorough assessments of the roof and communicate any potential problems to the buyers prior to the closing process. Identifying and addressing these issues beforehand is crucial, as they can significantly impact the sale of your home, as most potential buyers are hesitant to take on the burden of expensive roof repairs immediately after purchasing a property.

If your roof is relatively new or in good condition, it may not require replacement. However, if you’re unsure, it’s advisable to have a roofing professional inspect it before making any decisions.

If you want to install a new roof, find a reliable roofer in Near Wilmington, NC. A GAF-certified roofing contractor can install a high-quality roof that will help you sell your home.