January 20, 2024

Will a New Roof Increase Appraisal Value?

Will a New Roof Increase Appraisal Value?

If you’re selling your home, you want to get the most money possible out of it, am I right? One thing you have probably contemplated is whether adding a new roof to your home will increase the appraisal value on it. If you are planning on doing this, you should know all the specifics first.

Adding a new roof to your home not only increases the appraisal value, explains Risk Free Roofing Boston, a roofing company in Boston, it also improves the curb appeal, and protects the inside of your home better.

Believe it or not, when you add a new roof before selling, you could increase your homes value up to $12,000 but there are a few factors that determine how much it will go up.

How much will appraisal value increase with a new roof?

As with everything, there are many factors that determine how much your homes value will increase by adding a roof. I’ll try to break it down for you.

Determining factors:

According to visexterior.com, home inspectors make a beeline for the roof when they come to inspect a property. This is because roof health makes a huge impact on home value.

Here are some factors you must consider in order to get a good idea of how much your home’s value will increase:

  • Type of roof: the type of roof you choose to install is an important factor. For example, if you add a roof that improves energy efficiency, it will raise your home value more than if you added a plain asphalt shingle roof.
  • Condition of your old roof: If your old roof isn’t in bad shape to begin with, it may only raise appraisal value slightly (if at all) if you install a new roof.

How to tell if your roof needs to be replaced

There are plenty of tell-tale signs to look for if you’re unsure whether you need a new roof or not.

You may need a new roof if you notice any of the following:

  • Stains on the ceiling inside the home are one major sign there is a leak somewhere.
  • Missing shingles. Even if it hasn’t caused you problems yet, chances are it will in the future. On top of that, it takes away from the beauty of the home.
  • A sagging roof is a major sign it needs to be replaced. The conditions of a sagging roof can deteriorate quickly.
  • You can see daylight through the attic roof.
  • You see mold along the edges of the roof. Mold tends to spread and it’s unhealthy for you and your family to breathe. If you see mold, that means there is a spot somewhere that is holding moisture which is not normal and should be repaired.

Reasons to install a new roof

If your goal is to get more money out of your home when you sell, adding a new roof could be your best option.

Here’s why you should install a new roof:

  1. It adds curb appeal. When someone is home shopping and they pass by a home for sale and everything looks great except the roof needs work, they’re more likely to not even take a second look at it. On the other hand, if they see one that doesn’t exactly meet their standards, but it has a brand-new roof, the new roof may draw them in anyway and they may decide to buy the home in the end.
  2. It increases energy efficiency. Adding a roof can increase energy efficiency which raises the value of the home even more.
  3. Increases resale value. This is the number one benefit of adding a new roof to your home. True, it costs money to do this, but you’re getting that money back in the end. On top of that, according to com you can expect to recover up to 63% of the costs from installing your new roof.
  4. Most importantly, it helps you sell your home quickly. Homes with new roofs sell quicker opposed to homes with bad roofs which are considered “fixer uppers”. This could cause them to be on the market for an extended length of time.

Ending thoughts

Adding a new roof can significantly increase the appraisal value of your home, meaning you can get more out of it when you sell.

It’s the best way to increase the value on your home compared to new windows, garage door, and new siding so rest assured this is the right way to go!

5 Comments

  1. elevator requirements for commercial buildings

    April 5, 2023

    It’s great to see the various factors that can impact the appraisal value increase and why it’s a wise investment. The clear and concise information provided on how to tell if your roof needs to be replaced and the benefits of installing a new roof are especially helpful. This is a must-read for anyone thinking about selling their home or just wanting to improve its value.

    Reply
  2. Philadelphia Career Coaching Cente

    April 29, 2023

    I couldn’t agree more with this post. My husband and I recently installed a brand-new, energy-efficient metal roof on our home before putting it up for sale, and boy, did it make a difference! Not only did we receive compliments left and right from potential buyers about its sleek appearance, but we also noticed a significant reduction in our energy bills before moving out.

    Reply
  3. virtual assistants philippines

    May 4, 2023

    I absolutely agree that a new roof can work wonders for a home’s appraisal value! I remember when we installed a metal roof on our previous home, the energy efficiency improvement was remarkable, not to mention the aesthetic upgrade. And do you have any recommendations on how to find a reliable roofing contractor? I’d love to hear more about your experience and tips to share with others!

    Reply
  4. Michelle

    May 8, 2023

    In my opinion, replacing a roof can raise a house’s appraised value. The quality of the installation, the materials utilized, and the general state of the house will all have an impact on the value rise.
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    Reply
  5. Fullerton Electric Pros

    May 16, 2023

    Reading this blog post brought back fond memories of when I replaced the roof of my old home before selling it. The information here resonated with my experience, especially the part about increased curb appeal. I’ll never forget the look of admiration on potential buyers’ faces, convinced that the new roof was a testament to the overall care and attention I had given to the house. Indeed, installing a new roof can be a strategic investment that brings higher returns, a fact I can personally attest to!

    Reply

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