Why Roof Replacements Are Necessary
No matter how well a roof is maintained, eventually it will need to be replaced. Shingles are covered in a layer of granules, which protect them from the suns UV rays. Rain, wind, snow, and other inclement weather slowly knocks those granules off, leaving the roof vulnerable to UV damage. Eventually, that UV damage will cause the shingles to fail, and make a roof replacement necessary.
Metal, synthetic slate, and other roofing materials are equally susceptible to weather damage, and will also wear down over time.
The lifespan of a roof can range from 20-100+ years depending on the material it is made of. With traditional shingle roofs, you should start to anticipate the need for some roof work in the near future.This is why a roof replacement may be requested by potential buyers, or recommended by real estate professionals.
If you find yourself in this position, there are a number of ways a roof replacement can increase the value of your home, which is beneficial when trying to sell.
The Allure Of A Transferable Warranty
With the right roofing company, you can get a lifetime transferable warranty on the materials and labor that will pass on to the new buyers. A transferable warranty can mean a lifetime of not having to pay for roofing repairs out of pocket. Buyers may be willing to pay more to move into a house with a roof that will come with this warranty. You may even find that a roof warranty adds more value to a home than one without a warranty especially if it means the difference between a standard and premium roofing system.
Quality Of New Shingles
The quality of your new shingles may also have an impact on the return you receive on your new roof. This is because spending less money on shingles may earn you a much higher return. Home renovations need to match your neighborhood. Should you invest in luxury shingles, you’re unlikely to get the full value back if your neighbors have less expensive shingles.
In comparison, if you’re living in a high-end neighborhood, luxury shingles are expected. The designer shingles should match the style of other materials used on the home’s exterior and interior. Prospective homebuyers will be discouraged by traditional shingles if they can get a home in the same neighborhood with superior shingles.
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Roofing Materials By Cost
If youre going for a total roof replacement, you have several options for roofing materials. Here are some of the most common materials and their cost per square or 100-square feet:
- Asphalt shingles – $100 to $150 per square
- Concrete tile – $150 to $250 per square
- Wood – $250 to $600 per square
- Metal – $120 to $900 per square
- Plastic polymer – $400 to $1,200 per square
- Clay tile – $800 to $1,800 per square
- Slate – $800 to $1,800 per square
Does Replacing My Roof Increase The Value Of My Home
When you begin the process of selling your home, one of your first questions may be What is a fair asking price? There are many factors that go into determining a good listing price, including looking at the average home cost in your area, the age of your home, and the amount of improvement work it needs.
Many homeowners getting ready to sell want to know what they can do to increase their homes value to potential buyers. One question they often have is whether or not the state of the roof is a factor in determining the value of a home, and if getting a new roof installed before putting their home on the market would be a worthwhile investment.
There are a variety of factors that go into determining the listing price of a home, and many times there are significant benefits to replacing your roof.
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Offer To Transfer The Roof Warranty To The Buyer As A Selling Point
Christman tells the story about a couple who bought a home with a new roof. When they went to sell the home just a year later, they had to make repairs to the roof. Because they were not the original owners of the roof, the warranty had not transferred and they were on the hook for all those repair expenses. These expenses could have been easily avoided.
Most roofing companies offer transferable warranties. Its just a matter of calling and paying a nominal charge. Many buyers dont think to ask.
Offer this transfer to your buyer. Its just a few hundred dollars and having several more years of warranty on a roof could be what clinches the deal.
The question of whether you should replace your roof before selling is hard to answer. It will increase the value of your home, though it may not be as much or in the ways youd most like. Your best bet is to find a real estate agent in your local area who can help you make the right decision.
Competitive Real Estate Market
Appraisers do not scrutinize a home for defects in the same way a home inspector does. However, if they notice maintenance issues such as a roof that needs replacing, they will weigh that as an economic factor when comparing it with other homes. An old roof puts a home at a competitive disadvantage in its real estate market. Since buyers can view a roof when they drive by a house, they may rule the house out without ever viewing its interior. Appraisers account for this type of choice by adding and subtracting value for a homes overall condition.
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Are You Ready To Sell Your House
So, how much does a new roof increase home value?
As you can see, there isnt a particularly straightforward answer to this question. While you might not recoup entirely of the cost when you sell your home, there can be a number of other benefits that you might find to make the project worthwhile. For example, you might be motivated to have a faster sale and be looking for something to help your home be more competitive in your local market.
That being said, if you have a roof that needs repair or replacement and youre looking to sell your home, you have other options. If you choose to sell to an iBuyer, you wont have to bother with the expense or stress of repairing your roof. In fact, you wont even have to deal with cleaning, staging, showings, or open houses!
IBuyers are cash investors that will buy your home as-is. Because they are purchasing your home with cash, it means that you dont have to spend countless nights worrying that the buyers will have their financing fall through. Since the buyers arent obtaining the money through a lender, it means that the whole process can happen way faster than a typical sale.
Are you wondering how much money you could sell your home to an iBuyer for? Check out our free home value estimator today!
The Long Answer Is Yes But
You probably cant match dollar for dollar.
The 2017 Remodeling Impact Report, a survey conducted and published by the National Association of the Remodeling Industry and the National Association of Realtors states 45% of Realtors suggested sellers add new roofing before attempting to sell and 32%said roofing is what helped them close the deal. The organization argues the recovered cost is more than the spent cost .
Replacing your roof does have a pretty high return on investment, especially compared to other house projects, but it doesnt mean you can necessarily mark up the asking price dollar for dollar for what you spent on the new roof. Pricing a home is more complicated than that. Thats because
A house is supposed to have a roof.
When a buyer makes an offer, they assume the roof is there and is doing the job of a roof. Its tied into the price tag, not an add-on, and the sellers not acting entitled for thinking his new buy should have actual shelter.
Keeping up a roof is normal home maintenance, so a seller shouldnt expect a buyer to pay extra for the roof, even if it is top-of-the-line and brand new.
For this reason, Christman says, if you have to replace your roof, go midrange.
Dont spend the high dollar amounts or do the bare minimum.
Buyers can see if you did the bare minimum and they wont want to pay for the upscale. Midrange is your best bet for high return on investment.
Theres not an obvious right or wrong answer to replace
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The Kitchen Is Still King
Buyers of all kinds have long focused on the kitchen, but it holds particular sway over the newest wave of first-time homeowners. A modern/updated kitchen topped the list of ideal home features in our survey of millennials, registering as most important to more than a third of respondents. If you plan to sell, dont rip your kitchen down to the studs a smaller investment can have serious impact. For as little as $5,000, you should be able to add a new suite of appliances, as well as a new countertop and flooring, resulting in a fresh, coordinated look. Applying a fresh coat of paint to the walls or cabinets, and updating the hardware, can also breath new life into the space.
Value-Added Buzzwords Stainless steel. Though it has been around for decades, this appliance finish conveys clean, contemporary design, so it will signal updated in the mind of the buyer. For the latest spin on stainless, look for new versions of black stainless steel from KitchenAid, LG, and Samsung, each with a softer, less reflective finish but the same cachet as the original.
Quartz countertops. Engineered from stone chips, resins, and pigments, quartz has started to challenge granite and marble as the go-to material in higher-end kitchens. It shrugged off heat, scratches, cuts, and stains in our tests, and it requires none of the upkeep of comparably priced natural stones. Expect to spend $40 to $100 per square foot, installed.
Potential bump in sale price: 3 to 7 percent
Siding Adds Curb Appeal
Imagine your house in a Cape Cod Gray, Autumn Red or Vintage Wicker, popping against snow white frames. Probably the biggest way siding adds value to your home is with its beauty. In addition to its efficiency and durability, vinyl siding totally changes the look of your home.
Add some shake siding and your house becomes a vintage cottage. Whether you choose a country chic board and batten style or spring for a classic Dutch lap, siding is a quick change that lasts long.
Our vinyl siding projects outward to cast clear shadows, giving the look of real wood. It also boasts oak grain detailing for added realism and charm. Throw some soffit and fascia in to really complete your project and make it look even more expensive.
With all the styles to choose from, you can bet on a timeless look that will hold up to trends if you put it back on the market. And with 400 colors certified for color retention, the options are truly endless.
You admire the classic architecture, but not the decay that comes with it. Theres nothing worse than when a homes exterior starts peeling, fading and flaking away. Vinyl siding offers many features to stand up to weather, so it will stand the test of time.
Our pure virgin vinyl resin wont shrink or swell with the seasons, and its titanium dioxide coating acts as a sunscreen. By choosing vinyl your home will look beautiful and stay beautiful for years to come.
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Choose Stay Dry Roofing For Your Roofing Needs
Stay Dry Roofing is the leading roofing expert in Tampa, FL for both roof repair and replacement. Our team has been serving the Tampa Bay area for over 30 years, and our family owned and operated business is well-known for its friendly attitude and honest estimates. Our team is also proud to be one of the top 2% of all roofing contractors that are considered a GAF Master Elite Contractor, thanks to our dedication to excellence, licensing and insurance, as well as training for our teams. If you are interested in selling your home but need to consult with a roofing expert first, our team at Stay Dry Roofing would be happy to assist you! GIve us a call today!
Home Value And Metal Roofing Aesthetic Considerations
The curbside appeal of a home’s roofing is important, so much so that some zoning bylaws or community association rules may require that a home’s roof have a certain level of uniformity when compared to its neighbors. Metal roofing systems have come a long way from being simple sheet-metal barn roofs over the years, but before getting into that, it helps to use the current standard, tar shingles, as a frame of reference. Tar shingles come in a wide range of colors and a few shape variations, but the base material means that most tar shingles have the same rough granular-looking finish and all of them require the same layered installation. By contrast, metal roofing can have a utilitarian appearance that is clearly painted metal, or it can be textured and installed in segments to mimic the visual aesthetic of a wide array of other roofing materials, from clay tile to slate. Metal roofs can even blend in with the neighbors’ tar shingles.
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Are There Any Drawbacks To Having A Metal Roof
- Longer installation time: Elite Construction, a licensed and insured building and restoration contractor in Denver, Colorado, estimates that a five-person crew can install 35 to 40 square feet of a steel sheet roof in three to four days, about twice as long as installing asphalt shingles but about half as long as installing concrete tile. Installation can take a bit longer depending on the size of your home and the roofs architecture, as well as how the panels interlock.
- Noise: Although some roofers say that a metal roof isnt noisy as long as its installed on top of a solid deck, it can have more of a rumble than people expect, although not as loud as, say, rain hitting a skylight.
- Price: This is the biggest hurdle for homeowners. Expect to pay about twice as much as you would to replace an asphalt shingle roof, but a price comparable to tile. That said, some homeowners insurance policies, such as those with State Farm, offer discounts on premiums in certain states for qualifying metal roofs overlaid onto existing roofs. Ask your insurance agent for more information.
Build A Summer House/garden Room
Building a summer house or garden room is a savvy equivalent to building an extension or full outbuilding. It can provide a home working space, a place for a gym or just a little sunroom to relax in.
Its important to note that building a garden room involves a lot more work and money than building a summer house. To understand the differences between the two structures, check out this article from The Garden Room Guide.
According to Tepilo, with the cost of living on the rise and hefty stamp duty on up-sizing, home buyers are opting for this route as an alternative concept to adding more space.
Providing it has been done well and can provide a multitude of uses, it will add both space and value to the home.
To learn more about building your own garden room, check out Ali Dymocks fantastic video series on how to build a garden room. To get you started heres his first video:
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How Does A New Roof Affect The Return On Your Investment
In Remodeling Magazines 2017 report, its said that a new roof can add $14,000 to a homes value. Add the extra curb appeal you get with a new roof and now youre able to see why replacing the roof should be a higher priority on the list of projects for your home.
Some older homes have roofs that include asbestos in the material. As we all know, asbestos, though commonly used decades ago, is a massive health risk when people are exposed to it. Therefore, having that professionally removed and replaced with safe materials adds a health value that cant be quantified.
Several factors can impact your return on investment. For example, most contractors will try to avoid layering shingles, as it can shorten the roofs life by up to 40 percent. Furthermore, it will trap heat and add too much weight to the roof. So, if you have a new $5,000 roof placed atop an existing layer of shingles, your return on investment will be lower.
Regularly maintaining your roof will also impact your return on investment over time. For example, if youve just been hit with a big storm, have your contractor come out and do a thorough inspection, because small dings and dents that can be repaired easily now might be a bigger problem later.
Also, the materials you choose can impact the return on investment. Lets say you put an asphalt roof on a home in a division where every other house has wood shingles youre going to be devalued for that, especially if youre looking to sell any time soon.
Remember The Great Outdoors
Your homes property is another opportunity to expand its living space. Adding a deck or patio, with room for seating and a built-in or freestanding grill, is a way to create a defined space for outdoor living on a large or small scale.
But remember the rule of low upkeep, especially if your future buyer is likely to be a millennial. They love outdoor spaces, but whereas prior generations might have gone for the pool, Gen Yers recognize the maintenance costs associated with it, Berger says. Theyd much rather see an outdoor fire pit surrounded by a simple seating arrangement. Dont go for overly lush landscapes, especially in drought-stricken regions with high water costs.
Value-Added Buzzwords Curb appeal. Trimming overgrown shrubs and making minor repairs to the façade, including painting the front door, can deliver quick results. Replacing worn-out siding is a major undertaking, costing $12,000 on average, but it can give your home a complete facelift.
Water-smart yard. Replacing a section of turfgrass with native ground covers or pea gravel will reduce the maintenance costs while adding visual interest.
Potential bump: 3 to 5 percent
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