How Much Value Does A New Roof Add To My Home

However there are variables which will contribute to how much a new roof will improve home value.

How much value does a new roof add to my home.

When they went to sell the home just a year later they had to make repairs to the roof. With that being said you should weigh in the respective lifetimes of shingle and tile roofs as you consider the costs. Of course the exact amount of the replacement will depend on a number of different factors. If your roof is infested with pests asbestos containing materials damp or rot more work will be involved.

Christman tells the story about a couple who bought a home with a new roof. Making those repairs now helps you get your best asking price. But giving buyers who are on the fence the peace of mind that they won t have to make that costly repair anytime soon could spur them to make an offer. However replacing an entire roof will cost you thousands.

Add the extra curb appeal you get with a new roof and now you re able to see why replacing the roof should be a higher priority on the list of projects for your home. You might not want to shell out the big bucks for a new roof project. Replacing a roof past its average life expectancy of 30 years is considered a maintenance issue and won t necessarily enable you to up your asking price. That is until you consider your new roof return on investment.

A house sitting there at 250 000 with a brand new roof is going to bring more value than the house sitting next door that s the same floor plan with a 15 year old roof russell added. In remodeling magazine s 2017 report it s said that a new roof can add 14 000 to a home s value. 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. The same holds true regarding a new roof.

The more dramatic the upgrade the higher in value your home increases. This means you can expect to recover about 63 of the installation cost of a new roof. Most tile roofs will be at least twice as costly as a traditional asphalt shingle rooftop. Even for concrete tile a lower tier tile material you can expect a cost rangeof 400 to 450 per 100 square feet of roof.

Replacing a roof recovers 105 of its cost at resale according to nar. But even if you don t see a huge financial return a new roof can make you more likely to get full asking price lower time on market and smoother negotiations. Nationally a new roof usually falls in the range of 6 600 to 9 000. Generally speaking a new roof adds somewhere between 15 and 40 to the value of your home.

Meaning a home worth 100 000 is worth 140 000 with the addition of a new roof. A new roof can increase home value but you might not see a 100 return on investment very few improvements if any offer a full recoup of money spent. Some roof repairs are minor and cost as little as 150. Research shows that your new roof resale value is about 12 000.

That works out to 68 percent of the investment.