Does a New Roof Increase Home Value?

Written by Banks Editorial Team
4 min. read
Written by Banks Editorial Team
4 min. read

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A roof protects you from the weather and other elements. It’s a staple component of houses that can easily get overlooked until it has problems. For example, a downpour can lead to leaks and expose issues in an old roof. Outdated roofs can also become fire hazards, invite rodents, and affect your ability to sell your home

While a new roof protects you from these disadvantages, some homeowners consider getting a new roof before selling their homes. These homeowners believe the new roof will help them command a higher asking price in the market, but will this investment meaningfully impact your home’s selling price? We will explore some details to consider before changing your roof.

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How a New Roof Adds Value to Your Home

Changing a roof can improve your property’s value, but the roof change can also help you while you live in the home. A new roof provides you with these perks.

Better Look for Your Home

An old roof will show its age. Cracks and breaks may emerge and create an undesirable first impression. Some home buyers may walk away after seeing the roof’s condition. Even if you do not sell your home right away, you should still make it look good. You will feel better about your home while you live in it, and taking care of your home puts it in good condition for the next owner. A house in good condition can sell faster on the real estate market.

Upgraded Roof Technology

Roof technology continues evolving and providing homeowners with better energy efficiency and durability. You can also opt for a green or solar roof for additional functionality. Green roofs allow you to grow vegetation on your roof, while solar panels absorb the sun’s energy. You can get an energy-efficient roof without using green or solar solutions, but these choices reflect homeowners’ expanding options. You can also opt for a cool roof that will reflect the sun instead of absorbing it. This roof will make your home cooler during the warmer months.

Savings on Energy Costs

Energy efficiency will reduce your carbon footprint and energy costs. In addition, saving on energy will increase your cash flow. While this advantage will help any property owner, it becomes more valuable for real estate investors who rely on positive cash flow to sustain their real estate portfolios.

Solve Leaking and Other Problems

A faulty roof can lead to leaks and other problems. If water enters your home and does not get properly addressed, it can turn into mold. Mold can significantly deteriorate your home and make it less desirable for potential buyers. The problems don’t stop with leaks. You can also increase the odds of a fire, rodent problems, and other issues by not updating your roof. Replacement times vary based on the material and other factors, but if you have had your roof for over 20 years, you may want to look into a new roof.

Does the Color of the Roof Affect Home Value?

The roof makes up 40% of your home’s exterior and influences how homebuyers view your home. Selecting the right color can make a difference in your home’s value. Homeowners should start with their home’s current exterior design and select a complementary roof color. For instance, a brown roof would look better on a green home over a blue home. A black roof can act as a strong complement to a blue home. 

Some homeowners use a light shingle to increase their home’s perceived size. Dark shingles can make your home look smaller than it really is. You should look at several color samples before committing to a roof design. It’s easy to rush into getting a new roof or stick with what you know. However, choosing the right color can increase the curbside appeal and lead to a higher price. You can exit your home and buy your next house sooner.

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What Roof Materials Add More Value to Your Home?

Roofing materials impact your roof’s durability and curbside appeal. Selecting a suitable material can prolong replacements and increase your home’s value when it’s time to sell. Homeowners can choose from several materials:

  • Asphalt shingles: This roofing material is the most popular choice for its durability, water protection, and easy installation process. Asphalt shingles come in several colors and usually last over 20 years.
  • Metal roofing: This roofing is more expensive but requires less upkeep and is very durable. A metal roof can last over 50 years and is more useful in locations with snowy winters.
  • Tile, clay, or cement: This roofing is the most durable but also comes with a steep price tag. You can get over 100 years with some of these roofs, but they cost three times the price of an asphalt shingles roof.
  • Wood shingles: While some people like the way they look, they cost twice as much as asphalt roofing and can become a fire hazard. Some cities do not allow homeowners to install wood shingles because of safety concerns.
  • Slate: This roofing can last over 100 years but costs substantially more than asphalt. You may spend 20 times more money on a slate room over an asphalt roof.
  • Composite shingles: These affordable shingles look like more expensive slate or wood roofing. Composite shingles do not require much maintenance and can last 50 years.

How Does a Roof Affect a House Appraisal?

Home appraisers look at several factors before estimating your home’s value. They look at the real estate market and your property. Signs of wear and tear will decrease your home’s value, but new features can give your home’s price a boost. A new roof indicates the homeowner took care of their properties and did basic maintenance. This distinction can help you command a higher appraised value. 

Appraisers consider how a home looks and if it has been updated. They do not conduct an analysis as deep as an inspector’s report. Appraisers will see the roof and assess it by how it looks and the anticipated maintenance costs. An older room needs higher maintenance costs than new roofing.

Should You Replace Your Roof Before Selling Your House? 

Replacing your roof is an expensive process, but it can add value to your home and reduce your monthly expenses. Homeowners must consider if the investment to install the new roof will generate enough appreciation to cover the costs. You should consider replacing an old roof that is showing signs of wear and tear. Homeowners should not replace a reliable roof that needs some inspections and maintenance. Taking care of the roof instead of getting a new one will save you time and money.

Some people replace their roofs to get more buyers, but you don’t have to wait several months to attract buyers and get offers. Homeowners can submit their details to Offerpad for an instant offer. Offerpad makes cash offers on people’s homes as-is, speeding up the process. You can quickly exit your current property, so you don’t have to pay two mortgages. If you need more time, Offerpad will let you extend the closing date. You can fill out Offerpad’s form to receive an offer on your home within 24 hours. The offer comes with no obligation.

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