In today's real estate market, many people are looking for ways to add value to their homes. From updated kitchens to elaborate decks and patios, figuring out the best way to enhance your living experience while seeing a return on your investment can be a difficult task. Many home improvements can increase the value of a home, but every home has its own unique qualities. One of the most important features of every home is the roof. If your home is in need of a roof replacement within the next few years, picking the right new roof can increase the value of your home. Energy efficient roofing in particular can help lower your heating and cooling costs, which can add up to significant savings over time.
When preparing your home to sell, certain improvements may make the home sell faster without actually increasing the value. New carpeting, for example, generally will not allow you to increase your asking price, but carpeting that is old and worn out can make your home much less attractive to buyers. Not every home improvement adds to the value of a home. A new energy efficient roof is an update that not only adds value, but also creates a cost-saving benefit that has a positive impact on your everyday living experience.
If you're going to sell your home your home in the near future, it may be a good idea to consider replacing your roof. When purchasing a home with an old or damaged roof, buyers may try to negotiate and deduct the cost of a roof replacement from your asking price. If your roof has less than 5 years left in its lifespan, it might be a good idea to replace it before selling your home. When replacing your roof prior to selling your home, going for the most expensive roofing option may not lead to a full return on your investment. Buyers already expect the home to have a functional roof. A brand new roof, though, is a great selling point. Home buyers are attracted to the security of knowing that they will not have to do any major roof repairs or replacements in the next decade. If selling your home quickly is a concern, having a new roof may be a factor that puts your home to the top of the list. Depending on the style of your home, a simple yet durable and affordable asphalt shingle roof may be all that is required to give your home an edge in the real estate market.
Certain types of roofing can add immediate value to your home. If you live in a region of the country where asphalt shingles are the norm, giving your home a higher quality metal roof can be a good way to gain an edge. Metal roofing often costs around $10-$15 per square foot, but it can last anywhere from 30-40 years or more, which can make the cost worthwhile. In addition, the strong, sleek look of metal roofing can be attractive to potential home buyers. Slate roofing is the most expensive roofing material at $25-$30 per square foot, but it has a lifespan of 100-200 years or more. For this reason, it's generally only used in luxury homes or structures designed to last forever. If you own a home on which a slate roof would be appropriate, it might be something to consider.
The best way to add value to your home with a new roof is to upgrade to energy efficient roofing. Some roofing materials are much better than others when it comes to energy cost savings. In 2000, the Florida Solar Energy Center conducted an experiment to study indoor cooling energy usage with different roofing materials. The study was based on seven homes adjacent to each other in Fort Myers, FL that had been built by Habitat for Humanity. The homes were nearly identical except for the roofing. The study used dark shingles as the control. The other materials were white S-tiles, light colored shingles, white flat tiles, terra cotta S-tiles, white metal, and standard dark shingles with a sealed attic (no ventilation) and insulation under the roof deck as opposed to the ceiling. The study found that white, reflective materials were the most effective at reducing cooling costs. According to the data, reflective white metal roofing reduced cooling energy consumption by 24-28% during peak hours in relation to the dark tiles. This amounts to significant savings in the long term.
Energy savings are a sure way to see the effects of your investment if you’re going to be living in your home for a while, but what if you’re getting ready to sell? The question to replace or not can become tricky if you’re not planning on staying long. How much of the cost you can expect to regain in the sale can fluctuate depending on the market. An energy efficient roof is a great selling point for a home. A strong roof with lower energy costs gives the buyer a sense of security. The buyer will feel that the home is worth more than similar homes with less attractive roofs.
While a new roof can add value to your home, waiting too long to replace an old roof can cause extensive damage. Water damage to the walls, mildew, rotting wood, and insect-attracting moisture are all possible effects of a worn-out roof. Roofing may not always add value, but it is vital to preserving the value and integrity of your home. There comes a point when a roof replacement is no longer optional. When it is time for a new roof, energy saving materials can be a great investment. While an energy efficient roof may cost more initially, the long-term savings and enhanced resale value may make it a worthwhile investment.
About the Author:
Connie Gallerizzo is an independent copywriter based in Maryland.
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