Is it worth paying for a roof replacement if you know you will sell your home within a few years? This guide will help you decide between roof repairs or a new roof.
Roof Repair and Replacement Options
Before we discuss how a new roof will affect your home’s value, let’s detail some typical options for homeowners with aging roofs or small leaks.
Replace damaged shingles
Did a falling tree branch damage some of your asphalt shingles? You may not need a complete roof replacement. Instead, only the damaged shingles might need to be replaced.
Partial roof replacement
If only certain sections of your roof need repair, you may be tempted to get by with a partial roof replacement. However, this is generally not a good idea. Your per square foot roofing costs may be higher for partial roof replacement jobs, so completing the whole project at once might be beneficial.
If you only have one layer of roofing materials on your home, you may be tempted to complete a roof lay over – as opposed to a roof tear-off project.
Even though some roofers may mention this as a viable option because it could save you money on your roofing project, it’s not a good idea. A lay over is dangerous because it only covers up problems that get worse under the surface.
A tear-off is the most costly roofing project because more labor is involved. The old roof is completely removed and replaced with a new one in a tear-off roof replacement. Even though this option is the most costly, having a new roof is a huge selling point for potential buyers.
Now that you understand your options, let’s discuss the latest cost vs. value data.
Roof Replacement Costs and Resale Value
So is it worth it to take the plunge and invest in a new roof? Here’s what the data shows.
According to this independent study, homeowners recoup almost 60% of the cost of an asphalt shingle roof during resale – and about 55% for a new metal roof.
This may not sound impressive until you further examine the data. Adding another bedroom to your home only allows the average homeowner to recoup 46% of those costs. And a major kitchen remodel only gives you a 52% return on investment.
Other Reasons Roof Replacements Are a Good Idea
Just as car buyers are hesitant to purchase vehicles with high mileage, a home buyer may hesitate to make an offer on a home with an older roof. Here are some other reasons to replace a roof.
A new roof gives you improved curb appeal.
Your home’s exterior is the first thing a buyer sees — and your roof is part of that first impression. If your entire roof is in poor condition, and you know you will sell within the next few years, you might as well replace the roof.
You’ll be more likely to get above your asking price if you have a new roof.
If you have an old roof, your buyer may figure in the roof replacement cost when making an offer on your home.
An old roof may prolong the sale process.
If roof damage is found during the inspection, your buyer may request that the damage is repaired before the deal goes through. Finding a roofing contractor to make quick repairs will complicate and prolong the sale process.
Let Homefix Custom Remodeling Give You A Free Estimate
Quit worrying about roof costs and schedule a consultation with a local expert. Homefix Custom Remodeling will outline all new roof costs and your options so that you can make the right decision for your unique situation.
Homefix Custom Remodeling has locations in Florida, North Carolina, Maryland, and Virginia.
- You may not need a new roof. Instead, you may be able to hire a roofing company to replace damaged or missing shingles.
- If a new roof is the best option, expect an excellent return on investment when you sell the house.
- Home buyers are more likely to pay the asking price (or above the asking price) on a well-maintained home with a new roof.