How Does a New Roof Increase Your Home Value?

How Does a New Roof Increase Your Home Value?

Selling a home often requires an extensive list of repairs and updates in an attempt to get the most out of your investment. Homeowners who are thinking about selling need to consider the roof’s condition and if they need to replace it. Your roof defends you and your belongings against the elements, but will a new roof increase home value? 

The short answer is yes. Not only will a new roof increase home value, but it can also help attract buyers and give you some extra negotiating power. Learn more about this investment’s impact on your home and how it can improve its market value. 

Improve Aesthetics 

Curb appeal is a major player in home listings, and updating the roof can be a great way to boost your house exterior’s appearance. Older roofs fade from years of sun damage, with tiles or shingles cracked and lifted. This factor can make your home look aged and run down. 

Replacing the roof gives the house a fresh look, making it clear that you are willing to invest in home maintenance. This upgrade can be an attractive feature to home buyers because they will have the impression your home is well-maintained since you invested in a new roof. 

Get an Appraisal Bump 

Appraisals are often a starting point to justify the asking price when determining your home’s listing price. If you are going to involve banks in your home’s sale, they may cap the price based on the appraiser’s assigned value to your home. Replacing the roof can boost the appraisal value by up to $15,000, increasing your listing price range. 

Avoid Failed Inspections 

A new roof can also help ensure your home passes any home inspection requested by the buyer. Damaged roofs are a common highlight of failed inspections, alerting the potential home buyer that expensive repairs may be on the horizon. Replacing the roof eliminates the worry that an unexpected leak will chase away a motivated buyer. 

Update Technology 

A roof replacement is an excellent opportunity to take advantage of roofing innovation that may not have been available when installing the original roof. New materials could be more energy efficient and require less maintenance than what you have installed now. This option can also be a great selling point, giving interested buyers a unique feature to consider. 

Sell Convenience to Potential Buyers 

The last thing a home buyer wants with their purchase is a costly and time-consuming chore. Replacing your roof gives potential buyers one less fix to worry about and gives you one less issue to negotiate. Also, a new roof typically comes with a warranty that provides additional peace of mind against unexpected repairs. 

If you are considering or planning to sell your home, replacing the roof can be a great way to update it before listing it. A new roof can generate curb appeal, incorporate more efficient technologies, and make your home more attractive to serious buyers. Once you have decided on a new roof, contact us at Thompson Creek to get your custom roof replacement proposal and ask about our No-Hassle Warranty.

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