When it comes to home improvements, one of the most expensive projects a homeowner can take on is a roof replacement. Installing a new roof is a major undertaking that takes a lot of time, materials, and labor, which is why many homeowners question whether the ROI of a new roof is even worth it.
The truth is, while a new roof can be a costly upfront investment, the benefits far outweigh the initial cost and the return on the investment is usually more than worth it. In fact, in many cases, a new roof will deliver a greater return than the initial investment.
ROI of a New Roof
The Remodeling 2019 Cost vs. Value Report shows the national average to replace a roof is $22,636. This estimate includes removal and disposal of existing roofing to bare wood sheathing, and installing 30 squares of min 235-lb. fiberglass asphalt shingles (min. 25 year warranty) and new 30-lb. felt underlayment, galvanized drip edge and mill finish aluminum flashing. Of course, more expensive roofing materials will make for a more expensive installation. Other factors that can affect the overall cost of the project include the home’s location, difficulty of installation, and the warranty being offered by the installer.
In terms of ROI, a new roof provides both a short-term ROI and a long-term ROI. The short-term return on the investment is the initial look that the brand-new roof gives the home. A new roof is like getting a facelift for your home. It improves its curb appeal and makes it look more beautiful. But as great as the short-term ROI is, it is the long-term return that most homeowners think of when having their roof replaced.
The long-term ROI is what factors into the financial return of the project. A new roof will increase curb appeal and the value of your home, and can also improve the energy efficiency, making your home more comfortable. When you consider the fact that a single roof leak can cause more than $20,000 in damages, replacing the roof is one major home improvement that definitely seems to be worth it.
How to Tell if It’s Time for a New Roof
A bad roof will start showing signs that it is time for it to be replaced. Such signs can include:
- Shingle granules collecting in the gutters
- Mold along the edge of the roof
- Moss growth
- Dented, cracked, or missing shingles
- Torn flashing
- Roof is sagging in spots
- Daylight is visible through/into the attic
- Interior ceiling paint is blistered and/or stained
Need a New Roof Installed? Call Thompson Creek Today for Expert Roof Installation
If your roof is damaged or old and in need of being replaced, then contact Thompson Creek today. We can install the roof your home needs to be fully protected from the elements. We handle it all, so you can have peace of mind knowing that our experienced roofers are handling every phase of the project.
We use only the highest quality materials, so you’re guaranteed a roof that performs just as good as it looks. To learn more, contact the roofing experts at Thompson Creek and get a free estimate for your new roof installation today.