Replacing your roof might not be as fun of a home improvement project as adding a new bedroom or remodeling your kitchen. However, without a roof over your head, the rest of your house won’t do you much good.
In the past, humans used natural materials like mud, palm fronds, and animal hides. As civilization became more advanced, people would make clay tiles to create sheltered spaces. These days, people can choose from a number of different roofing materials, including asphalt shingles, metal, and slate.
Some sellers choose to repair or replace their roofs before they put their houses on the market for sale. How much does a new roof increase home value, though?
Let’s take a look at everything you need to know so you can make an informed decision about your own property.
Roof Repair and Replacement Options
Depending on both your budget and the condition of your current roots, there are varying degrees of roof replacement and repair. Let’s take a look at each option so that you can get a better sense of how to proceed.
(Are you wondering whether you have other options that don’t involve a giant home improvement project before you sell your home? If so, learn about the pros and cons of iBuying here.)
It can be relatively inexpensive to replace individual shingles on your roof. This might be a good idea if some of your shingles have been damage by tree branches or wind. However, it’s important to make sure that they are the same shingles that are already on your roof so that they match.
You might find that only certain sections of the roof of your home are in need of repair. You therefore might decide to do a partial reroofing of your home. There is a limit to how many times you can do this, though, because it will create an uneven slope over time.
If there are already multiple layers of roofing on your home, it might be time to install a whole new roof.
Lastly, might simply be time for a full roof replacement. Whether or not this is the case for you has to do with the roof’s age, wear, and the climate of your location.
There are typically two options when it comes to a new roof. There is a “roof over” and a “tear-off.”
The cheaper of the two options is a roof over. This is when a brand new roof is put on top of the old roof instead of removing the old roof. This is will look the same as a tear-off and can still be marketing to potential buyers as a new roof.
A tear-off is when you completely remove the old roof and put on a brand new roof. There are a number of important benefits to choosing this method.
One benefit is that you are able to take a closer look at your roof and make sure there are any additional issues. On top of that, the finish is higher-quality because shingles attach more securely to the home’s structure than they do to other shingles.
If you do choose to go with a tear-off roof replacement, you will definitely want to mention it in your listing description when you sell. This can be a huge selling point for buyers because it means that they won’t have to worry about roof repair or replacement anytime soon.
Installing a Roof: How Much Does It Cost?
The cost of installing a new roof can vary greatly depending on a number of factors. This includes how large your roof is, the material you are using, your location, and whether or not you are removing the previous roof or layering over on top of it.
According to HomeAdvisor, the average amount American homeowners spend to replace a roof is between $5,132 and $10,023. If you choose to do the project on your own, you can expect to save about half of what you would spend on hiring professionals to do it.
That being said, this can be a big project to take on yourself if you’ve never done anything like this before. There are a number of complications you could run into along the way that might require you to call in a professional anyway.
The typical range for a roof repair is between $336 and $1,254. The materials you use will have an impact on the cost of this as well as your locations and the size of the area that needs to be repaired.
How Much Does a New Roof Increase Home Value?
You might not see a 100% return on investment when you install a new roof. However, it can increase the value of your home. For what it’s worth, there are not many improvements that allow you to recoup all of the money that you spent.
However, there are a number of benefits to replacing your roof. It can mean that your house sells faster, you are more likely to get the full asking price, and the negotiations go much more smoothly.
While it can differ between houses and locations, let’s take a look at the average cost and return on investment for two of the most popular types of roof replacements.
Metal Roof Replacement
These are low-maintenance and durable roofs that are typically used in parts of the country that are snowier.
The average national cost of installing a new metal roof is about $38,600. When it comes to resale value, the average is about $23,526. This means that the return on investment is about 60.9%.
While a metal roof might be a bit more expensive than an asphalt shingle roof, it’s worth mentioning that they also tend to have a significantly longer lifespan. A metal roof can last between 40 and 70 years, meaning that once you replace your roof you don’t have to worry about it for a long time.
Asphalt Shingle Roof Replacement
This might just be the most widely used type of roofing material in the U.S. Relatively easy to install as well as waterproof and sturdy, asphalt shingles are a common choice when it’s time for a roof replacement.
The average national cost of installing a new asphalt shingle roof is $22,636. You can expect, on average, that this improvement gets you $15,247 in resale value. This means that you receive a 68.2% return on investment on average.
Asphalt shingle roofs are less expensive than metal roofs but they do not typically last as long as metal roofs. You can usually expect between 20 and 22 years out of an asphalt shingle roof. This is, at best, half the life span of a metal roof.
Tips For Maximizing ROI on a New Roof
If you are interested in getting the most ROI from your roof, there are a number of things you can do. Here are some tips for maximizing your return on investment:
- Don’t layer shingles, instead remove old shingles and put a new roof on
- Keep up with the necessary maintenance of your roof and check on it frequently
- Choose midrange roofing materials
- Consider offering to transfer the warranty to the buyer
If you do choose to replace your roof before selling, make sure that you market the fact that it’s new and any other saleable features.
Do You Need to Replace Your Roof Before Selling Your House?
Replacing your roof is a big project, so it’s worth making sure that it’s the right choice before you embark on it. If your existing roof has issues, this can make it difficult to sell your home. If that is the case, you might decide that replacing or repairing your roof before listing is worth the expense.
Roughly 18% of sellers repair or replace their roofs before they put their houses up for sale.
There are a number of signs that can point to needing either repair or replacement for your roof. These include:
- Buckling shingles
- Sagging roof
- Cracked shingles
- Lost granules
- Recent hair or wind damage
- Ice dams
All of these things can both flag issues for a home inspector and impact your curb appeal negatively. If your roof has had damage or other issues, in some states you will be required to disclose this information to a potential buyer. You can learn more about what you need to disclose when selling a house here.
What’s the Best Type of Roofing Materials to Use?
If you are just reroofing part of your roof or replacing shingles, then you will want to make sure that you match your new roofing materials to the materials already on your roof. You have more options, however, if you are completely replacing your roof.
These shingles are popular and easy to install. They are also affordable and durable. Lasting roughly 25 years, these shingles come in a lot of different colors and are the most common roofing type in the United States.
While this type of roofing is expensive, they are incredibly durable. Lasting 50 years or more, these roofs are made out of sections of metal roofing that connect and are cut to fit to your home.
Metal roofs are particularly common in places with lots of snow.
Once you start thinking about replacing your roof before selling your home, you might start thinking about other projects that could also boost your home’s value. Is it worth replacing your windows before selling your home? You can learn more here.
Composite or Synthetic Shingles
These are shingles that are made to look like wood or slate but are actually roughly the same price as asphalt shingles. With minimal maintenance, these tiles can last up to 50 years.
Tile, Clay, or Cement
This type of roofing material can last between 50 and 100 years. They are common in Spanish-style homes and can look quite stylish. However, they tend to cost as much as three times more than asphalt shingles, making them a particularly pricey option.
Wood shingles are very nice looking, but there’s a price you pay for that. About twice as expensive as asphalt, these shingles typically last about 25 years. Some cities actually don’t even allow this type of shingle because of concerns about fire.
Slate roofs can last a really long time, sometimes even more than 100 years. These shingles are made of real stone. However, expensive and heavy, this type of roofing can be as much as 20 times more expensive than asphalt shingles.
Are You Ready to Sell Your House?
So, how much does a new roof increase home value?
As you can see, there isn’t 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 you’re looking to sell your home, you have other options. If you choose to sell to an iBuyer, you won’t have to bother with the expense or stress of repairing your roof. In fact, you won’t 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 don’t have to spend countless nights worrying that the buyers will have their financing fall through. Since the buyers aren’t 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!