Are you considering a new roof? Though new roofs may not be quite as popular as interior room remodeling projects, new roofs have their advantages, including a nicer appearance, improved warranties, lower utility bills, and improved resale value. However, as you consider a new roofing system, there are a few factors that must be taken into consideration. Here are some of them.
How the Roof Impacts the Value of Your Home
The majority of homeowners are mainly concerned with ensuring their roof is able to protect their personal and valuable belongings beneath it. At the same time, the roof is an incredible insulator, and if you are using some of the modern, higher-tech roofing materials, the heat in the summer can be reflected off the roof rather than being absorbed into it, which can truly help in terms of comfort and cost.
While the roof has a functional purpose, a brand-new roof also looks good, even if it is only new asphalt shingles. However, there are numerous options available on the market, including natural wood, which offers natural beauty.
Home inspectors like to go straight for the roof due to the fact that the roof’s health plays a huge role when it comes to determining the value of a home. For instance, an updated or new roof has shown to provide an excellent ROI since it can vastly boost the overall health of a property.
If you are selling your house and the roof needs repairs, the appraisal property value can drop, placing your home in the category of fixer-uppers, potentially killing a sale.
Is a New Roof Necessary?
It is no easy task to replace your home’s roof. Though professional contractors can perform the job rather quickly, you will pay the price. If your roof has undergone frequent maintenance and inspections, your roof will likely last 20 years or longer. However, if you live in an area that is exposed to severe weather, eventually, it will require a complete replacement.
Here are a few signs that indicate a replacement is necessary:
- Granules in your gutters
- Missing shingles
- Dented shingles
- Mold along the roof’s edge
- Torn flashing
- Dried caulking beneath the flashing
- Daylight showing through the attic
- Stains on the inside of the home and/or blistered ceiling paint
Benefits of Installing a New Roof
While resale is great, that’s not the only benefit to a new roof. If you don’t plan on selling your home, then you should consider other benefits, such as the improved energy efficiency. In fact, that is one of the main reasons that homeowners opt for a brand-new roof.
Asphalt shingles have the ability to reduce the roof’s surface temperature by as much as 50 degrees, helping to increase the efficiency of your air conditioning. In addition, with these types of eco-friendly improvements, you can obtain tax credits.
Another benefit of a new roof is another layer of protection that can keep your interior belongings safe and sound.
Short-term vs. Long-term Roof Value
The short-term value of a brand-new roof is something similar to that of the new car smell. When you have a new roof installed, it provides your home with a facelift—a curb appeal that is irrefutably attractive.
Though the short-term value is indeed attractive, it is the long-term value that homeowners hope to gain from a brand-new roof; after all, roofs are made to last. Of course, long is a relative term, since asphalt tends to last for about 20 years, slate can last for 75 to 200 years, depending on the type of slate and the homeowner’s upkeep schedule.
To ensure your roof lasts as long as possible and to enhance the long-term value of the roof, make sure to have the roof undergo routine inspections so that repairs can occur as needed.
If You’re Selling, How Much Value Can a New Roof Actually Add?
When you add a new roof, you can improve the resale value on a home. Remodeling Magazine has reported that a new roof can improve the value of a home by about $12,000 and that you are about to recover about 63 percent of the roof’s installation cost through the boosted value.
How Much Does It Cost to Have a New Roof Installed?
There are numerous things that need to be taken into consideration when determining the cost of a new roof. First, consider the materials that will be used. If you have a small budget, asphalt shingles will be the best choice, since this material is low-cost. For more luxurious materials like tile and slate, your budget needs to be more in the $1,500 per 10- by 10-foot area.
You also should think about roof size. The larger your roof, the more material that will need to be used. You should also consider labor, since a larger roof will require more time to complete.
Last, but not least, consider the slope of the roof and the number of obstructions like vents, skylights, etc. A steep roof will obviously be more dangerous and difficult to work on, impacting the cost of labor. The cost of labor will also rise if there are a number of obstructions for the roofers to work around.
Roofing Cost vs. Value
On average, in the United States, the cost of a new roof is $7,500 for a 2,000 square foot ranch property. As far cost vs. value goes, you can expect between $2.40 and $3.75 per square foot. The best value is about $3 per square foot, which is about mid-range.
The key is to locate a roofing contractor who will make use of the right materials, offer superb installation services, and provide a competitive price, which will allow you to end up with excellent quality at an affordable price—vastly improving the cost vs. value ratio.
How Is Your ROI Impacted with a New Roof?
According to Remodeling Magazine, a brand-new roof can add as much as $14,000 to the value of your property. When you consider the curb appeal that the new roof will add to the property, you can see how important it is to replace a roof if you are considering selling.
Some older homes may have roofs with asbestos in the existing materials. Asbestos is a serious health risk when individuals are exposed to it. Therefore, the health value of having it removed by a professional and replaced with materials that are safe and asbestos-free cannot be quantified.
There are numerous factors that can affect your overall ROI. For instance, some roofers may attempt to avoid layering the shingles, since it can reduce the roof’s lifespan by as much as 40 percent. Plus, it can help in trapping heat and adding more weight to your roof. So, if you have a brand-new $5,000 roof placed on top of your existing roof, the ROI will be lower.
Your ROI will be impacted over time by maintaining your roof regularly. For instance, if a big storm has recently come through, you should contact your roofing contractor to come out and perform a thorough inspection, as small dents can easily be repaired now, but if they are left unrepaired, they can become a much larger issue later on.
In addition, the materials that you select can affect your ROI. For instance, if you choose an asphalt roof on a house in a subdivision where other homes have wood shingles, then your property will suffer a decrease in value, particularly if you plan on selling in the foreseeable future.
What Materials Should You Choose If You’re Replacing Now?
New shingle technology is durable and attractive, and asphalt shingles are definitely no exception. In fact, asphalt shingles are some of the most popular roofing materials available on the market today, and this is due to the fact that they are easy to install, affordable, and durable.
For asphalt shingles that were made 20 or more years ago, the typical warranty was 15 to 20 years. However, due to the fact that shingles are made of such high quality today, many manufacturers are providing warranties of up to 50 years.
Another popular roofing material today is cedar shake roofing. This particular roofing material is incredibly attractive and resistant to the damaging effects of the elements. In addition, it is pest-resistant, and as long as it is installed properly, it can age gracefully from a natural wood hue to a beautiful silver-like hue.
Choose to Work with a Reputable Roofing Company
At C and K Roofing, we have numerous years of experience with an assortment of roofing materials. We will work with you to ensure that you choose a roofing material that not only suits you and your personality, but also suits your home, your neighborhood, and your budget. If you have any questions about the installation process, how much value you will get out of replacing your roof, or anything else, please feel free to reach out to us.