How Much Does a New Roof Increase Home Value?

how much does a new roof increase home value

Ideally, every home would appreciate in value over time. Believe it or not, that’s not always the case. Thankfully, there are upgrades and features you can add to your home to help increase its overall value–especially if you’re planning to sell your home soon.

So let’s take a look at how a new roof might impact your home’s value and why it might be a good investment to consider. 

How Does Your Roof Affect Your Home’s Value?

There are very few home improvements guaranteed to yield a complete return on your investment. Remodeling’s 2022 Cost vs. Value Report prices the average roof replacement at just over $30,000 with an estimated 59.8% return on investment compared to the overall cost.

Keeping that in mind, a new roof on your house has the potential to add value to your home, even though there’s no sure way to say precisely how much.

Should You Install a New Roof Right Before Selling Your Home?

If selling your home is something you’re considering, a new roof could act as an additional selling point for potential buyers. This means that your home could possibly sell faster since a brand new roof provides buyers with one less impending repair.

It’s important to remember that market conditions impact the value of any home renovation. Because housing markets differ by region, a new roof could yield a high return on investment in one market and barely affect home value in another. 

So, should you install a new roof before putting your house on the market? To find the correct answer for you, you’ll need to determine the condition of your existing roof.

Homes with roofs that are visibly worn or in poor condition are likely to have less curb appeal to potential buyers, leaving you with fewer offers to choose from. Not every buyer is willing to pay more for a home with a new roof, but a new roof could cause them to choose one home over the other. 

How Does a Reroof Compare to Other Home Renovations?

Getting a new roof is generally a costly investment, and depending on the condition of your home overall, it is likely to be one of the most expensive renovations you ever do. The renovation needs of every home are unique.

If your roof is the biggest thing in need of some TLC, it might make the difference between selling your home quickly or sitting on the market a little longer. On the other hand, if your roof is one of many renovations that need to be done, it may not move the needle enough for potential buyers.

If you’re unsure about the condition of your roof, hiring a local Janney Roofing professional to assess it can give you peace of mind to make the decision that’s best for you and your unique home.