When listing a home for sale, one of the first things that buyers notice is the home’s exterior, including the roof’s condition. If a home has an older shingle roof or has cracked, missing, or damaged shingles, home buyers might skip the property and continue on their search. This is why replacing roof shingles is a great idea for homeowners wondering how to increase the value of their home and stand out in the real estate market. Here are four reasons why!
1. Roof Renovations Increase Curb Appeal
The roof shingle types available today can drastically improve a home’s curb appeal. At Five Points Roofing Company, we only install high-quality architectural shingles. Our shingles are available in multiple color and texture options that give properties an updated, modern aesthetic that Middle Tennessee home buyers love.
2. New Shingle Roofs Offer Better Energy Efficiency
Roof shingles have made many advancements over the years, including improvements in energy efficiency. Today, many homeowners are replacing roof shingles with Energy Star-approved options that contain technology to reflect heat from the sun. These roof shingle types are not only better for the environment but will also cut down on cooling costs.
3. New Roof Materials Have Longer Warranties
In the past, older roof shingles came with limited warranties lasting around 20 years. Now, roofing warranties are much longer. Our local roofing company offers limited lifetime labor warranties with every new roof installation, which are completely transferable when homeowners sell their properties.
4. Home Buyers Love New Roofs
At the end of the day, many buyers are searching for houses that look beautiful and are built with reliable, high-quality construction materials. Although a shingle roof replacement is a major investment, it can help homeowners sell on their desired timeline and at the right price.
How Much Value Does a New Roof Add to Your Home?
So, how much value does a new roof add to your home, specifically? According to Remodeling Magazine’s latest Cost vs. Value Report, asphalt shingle roof replacements in the southeastern region of the United States have the following return on investment:
- Average Cost: $22,383
- Average Resale Value: $14,989
- Average Cost Recouped: 67%
There are multiple factors that can affect average roof replacement costs in Middle Tennessee. According to HomeAdvisor, Middle Tennessee homeowners spend an average of $15,000 on roof replacements, which includes approximately 40% for roofing materials and 60% for labor costs. However, when a roof has wind, hail, or other storm damage, the homeowner may only be responsible for their deductible per their home insurance policy, so it is always best to contact your home insurance company before paying for a roof replacement out of pocket.
Even though homeowners may not receive 100% of their roof replacement costs back, replacing roof shingles can aid in the home selling process. Sellers can avoid negotiating due to having an older roof, lowering the asking price, or keeping their property on the market past their time frame.
Does a New Roof Affect Home Appraisals?
Yes! During a home appraisal, an appraiser will determine the value of a home compared to other similar properties on the market. Appraisers consider multiple factors when evaluating a home’s value, including the condition of the roof. Here are some things to look out for before scheduling an appraisal:
- Roof leaks
- Cracked or buckling shingles
- Storm damage
- Ice dams
Contact Us to Improve Your Home’s Resale Value with a New Shingle Roof
If you’re a homeowner ready to improve your home’s value, schedule a roof inspection with our Franklin roofers. We will help you determine the best roof shingle types for your roof replacement and answer any of your questions. To learn more about replacing your roof with Five Points Roofing Company, contact us today