When undertaking any type of home improvement, it is natural to wonder if the money you are expending will increase the value of your home.

People opt for major improvements for one of two reasons. Either they want to change/update the style of the feature, or the feature is old and no longer functional. For instance, you may decide to upgrade a bathroom simply because you can’t stand the canary yellow countertops – or because the plumbing is antiquated and leaking.

No matter your reasoning, an updated bathroom is universally considered to add value to the home.

But does a new roof work in the same way?

The Value of a New Roof

Except in the case of a total home renovation, it is rare for people to decide to replace their roof for style reasons. In Sarasota, homeowners associations often actually dictate your style of roof.

The overwhelming majority of roof replacements are because the roof is nearing the end of its lifespan, or it is already damaged or leaking. Therefore the replacement is necessary, regardless of the increase in value. The good news is, however, that a new roof does in fact increase the value of a home.

Remodeling Magazine’s 2017 report found that the average homeowner could expect to see a $12,000 increase in their home’s value. This makes it one of the best renovations you can undertake for the cost.

Selling Your Home with a New Roof

Homes are appraised based upon like attributes. If your roof is older, but still has 5-10 good years on it, it is likely to appraise similarly to comparable properties.

If the roof is considered to be at the very end of its life cycle, however, you may have a problem selling the home at your requested price – buyers are generally adverse to large expenses which will fall to them. They may ask you to drop your price to cover the price of a new roof – in which case, you may lose 100% of the cost through the transaction.

Conversely, if your home has a brand new roof, it is more likely to sell – even at a premium over comparable homes. In addition to the vastly improved curb appeal, today’s new roof materials can last significantly longer than ever before.

This means that a new buyer may never need to replace the roof during their tenure – a huge intangible value that goes beyond mere dollar value.

Other Financial Benefits of a New Roof

For those contemplating the addition of new roof while still living there, it may be difficult to justify. After all, you can enjoy cooking in your new gourmet kitchen, or swim everyday in your new pool. But a new roof is a bit “out-of-sight, out-of-mind.” This is why most homeowners don’t consider the expense of a new roof until it is absolutely necessary.

But there are some great reasons to purchase a new roof even if your roof isn’t leaking yet.

For instance, a new “cool roof” may greatly reduce your energy costs, and your insurance company may lower your insurance premiums if you install a brand new roof built to the very latest hurricane codes.  These intangible benefits add to your home’s value as soon as you implement them.

If you are wondering if your roof needs to be repaired or replaced, call a local Sarasota roofing professional from Avery Roof Services.  They will be happy to answer your questions, and to explain the benefits and value  to installing a beautiful new roof.