That represents 68 percent of the investment. A new roof can increase the value of the home, but you may not see a 100% return on investment. Very few improvements, if any, offer a full recovery of the money spent. But even if you don't see a big financial return, a new ceiling can make you more likely to get the full asking price, reduce time in the market, and trade better.
If you have a lot of skylights, a steep roof, or other obstructions, you'll end up paying more. A new roof can significantly increase the exterior appeal of your home, as it signals a well-kept exterior that is pleasing to the eye. Potential buyers appreciate the ease of maintenance that comes with a new roof because it ensures that they won't have to replace, or even repair, it in the near future. The type of roofing materials you choose to install and their projected lifespan can also make a difference in the long-term value of replacing your roof.
Add the extra exterior appeal you get with a new roof and now you can see why replacing the roof should be a higher priority on the list of projects for your home. A metal roof can last between 40 and 70 years, which means that once you replace your roof you won't have to worry about it for a long time. Asphalt tile roofs are less expensive than metal roofs, but they don't usually last as long as metal roofs. Working with a local real estate agent or home appraiser can help you determine which roofing material will provide the best return on investment when you sell your home.
When a seller invests in a new roof before selling the home, they are likely to recover 60-70% of their investment and are more likely to receive full-price offers on their home. However, it's also an important insulator, and if you use some of the newer, high-tech roofing materials, the summer heat reflects off the roof instead of absorbing it, which is a huge relief in terms of cost (utility bills) and comfort. The most important factor to consider when calculating the ROI of a new roof for your home is its current state. If you are unsure about the current condition of your roof, get a professional roof inspection and continue from there.
Whether your roof needs extensive repairs or a total replacement, roof replacement will have a significant and positive impact on the value of your home.