The roof of a home has many important jobs. It keeps your home safe from the elements, helps to insulate your home from heat or cold, and can even help power your home if it has solar panels. While your roof has plenty of practical roles for a safe lifestyle, it also plays a key part in determining the value of your home when it’s time to sell it. Although you don’t have to replace your roof before putting your home on the market, including your roof in home renovations can pay.
As a bonus, you might be able to recoup some of the costs associated with replacing your roof in the home-selling process. This makes it a great idea to install a new roof before you sell your home. It not only benefits you as the current homeowner, but it will also benefit the family who calls your house “home sweet home” next for years to come. Even if you’re not considering selling your house any time soon, you may want to think about how a new roof can add fresh value to your home’s worth.
Is a Roof a Big Deal?
A roof might seem like a small or insignificant aspect of the home, but it takes up a whopping amount of space if you think about it. While different homes may have different architectural ratios, the roof of a house can contribute about 40% of the outside of the home. Although we frequently overlook roofs when assessing the value and appearance of a property, they cover a large portion of the home’s exterior. As a result, the way they look and their condition factor into the resale value of the home and curb appeal. Even if your home has a smaller roof than the average house, the roof still has a vital function that makes it a major player in calculating the overall worth of the property.
A New Roof Could Pay for Itself
If you’re struggling to figure out how you could finance your new roof, the answer may be less complicated than it initially appears. As an article on Home Light explains, you should recover roughly 68% of the cost of a brand-new roof if you intend to put your home on the market for sale. Of course, if you have no intention of ever selling your home, this won’t apply. For those who plan on selling their home, you’ll want to talk to an experienced real estate professional to determine exactly how much you should expect to increase the home’s value if you add a new roof. If they can’t give you a solid answer, someone who professionally appraises homes may be able to give you a clear idea of this figure.
The Value of a New Roof Doesn’t Last Forever
Once you’ve installed a new roof, you may wonder how long you can expect it to increase the value of a home. After the new roof is installed, it may be able to retain a maximum of 85% of its original value, as Home365 shares. If you face a natural disaster after the new roof is installed, the value may go down significantly. Naturally, if you installed a new roof ten or twenty years ago, it’s no longer considered a new roof. For the best chance of upping the value of your home, you should replace the roof close to when you expect to put the home on the market.
With a new roof, you’ll be able to pocket a higher value for your home if you decide to sell it. If you’re on the fence about selling it, you still should maintain your roof. Outside of impacting the value of your home, a worn-out roof puts you and your household at risk of injury or damage to the interior of the home.