Most people assume that every home improvement project instantly boosts their property’s curb appeal. While this may not always be the case, homeowners need to understand how a new roof helps improve a house’s value. Today, your commercial roofing replacement experts will delve into the matter in detail.
How Much Does a New Roof Increase Your Home Value?
According to Remodeling’s 2019 Cost to Value Report, the average homeowner spends $22,636 on a new medium-quality asphalt roof. This new roof will improve the home’s value by $15,427, or an average of 68%. However, a newly installed roof increases the assessed value. The National Association of Remodeling Industry (NARI) Remodeling Impact Report suggests that new roofs provide a 109% return on investment.
As it is likely that your roofing contractor would tell you that a roof replacement is a significant investment, there are still some things to consider if you want substantial returns on your roof project:
- Roof’s condition. If you have five-year-old well-maintained roofing, it’s possible to be in good condition. You won’t see too many returns on your investment if you replace your roof at this point. If there is minor damage present on your roof, it’s better to have it repaired than replaced at this point. Moreover, if you are unsure of your roof needs, you may consult your local roofing contractor.
- Quality of shingles. Most home renovations need to follow a theme, especially if you live in a homeowners association. It is best not to invest in luxurious roofing materials if you live in a starter house since your home’s value heavily depends on the neighborhood’s average value.
The Benefits of Getting a New Roof
- If you don’t plan to sell your house, you may consider this project as a way to improve your energy efficiency. After all, this is the primary reason why homeowners choose to have a new system installed.
- It will serve as an updated layer of protection for your property and its occupants.
For siding replacement and commercial roofing repair, always remember Pawcatuck Roofing Co.! We provide a wide array of services, with excellent results for agreeable prices! You can reach us at (860) 940-2343 or fill out our contact form to request an estimate. We serve homeowners in Connecticut and Rhode Island.