So you got your dream home, but you’re looking to add more value to it. Maybe it is one you want to stay in for the long run, or maybe you’re dreaming of another dream home to own. Either way, there are a variety of perks to adding value to your beloved home.
Adding to the value of your home is not just for the sake of resale purposes. Increasing the value of your home can have a beneficial impact, from improving its current equity to securing its financial future, and even lowering your home’s insurance rate.
One major feature of your home to consider when looking to increase its value is its roof. A new roof can make all the difference in adding more value to your home. Conversely, an older roof can also cause a decrease in home value, which is not ideal for any homeowner, whether or not they’re planning on selling. The condition of a home’s roof will impact its curb appeal, potential home insurance rates, and if the time comes, the profit you could get when selling it.
Still not sure of the connection between a new roof and an increased value of your home? Let’s examine some of the factors that play into this and see what you can do to add more value to your home with a new roof!
The Importance of Increasing the Value to Your Home
Before we get into the nitty gritty of a new roof and its impact on a house’s value we have to understand why it’s important to consider the importance of a home’s value. The team at Bankrate go into further detail, but break it down this way:
“Your home is likely one of your largest assets, so increasing its value contributes to your overall net worth…raising your home’s value has other benefits…such as…more tappable home equity…some protection from market swings…aesthetics and function…”
The bottom line here is there are major perks to increasing the value of your home. It can dictate whether you make a profit on your home in the future, but it can also impact the present value just as much!
But, Why is It Important to Know the Value of Your Home?
Keeping a pulse on the current value of your home is important due to a lot of different moving pieces. One reason is the ever moving and changing housing market. Bankrate notes that knowing your home’s value can “add protection from major market swings”. Additionally, if you do decide to sell your home based on the market, you won’t have to worry too much about its value if you’re already aware of what positive things it brings to the market.
Your Roof’s Value and Condition When It Comes to Selling
If you eventually decide to sell your home, then your roof will play a major role in determining the quickness of the selling process. A major factor within the selling process of a home are home inspections. An inspector will visually inspect your entire home, from top to bottom, looking for any needed repairs or other issues with your home. By staying up to date on the condition and value of your home, you can save hundreds of dollars and time. You don’t want to be surprised when an inspector visits your home and finds issues, which includes roof related issues.
During the process of selling your home you will also have to sign a seller’s disclosure agreement. This is an agreement between you and the buyer confirming that you are aware of certain issues within your home to the best of your knowledge, which may impact its value. However, if it were to be discovered, and proved, that there were home related issues that you knew of but did not disclose, you could have the potential of facing a lawsuit.
Instead of risking the chance of any surprise, Austermiller offers a free roof inspection to ensure nothing is missed. Helping you save time, money, and any roofing-related surprises!
Does a Roof Impact the Value of a Home?
The short answer is, yes, a roof does impact the value of a home. The roof is one of the most important pieces of a home, not just for its curb appeal, but its functionality. A roof’s quality and condition can make all the difference between its profit and the impact it can have on qualifying rates for home insurance.
Curious as to how a roof’s condition can impact the value of your home? Let’s compare the two:
How a New Roof Impacts Home Value
When looking to increase the value of your home, homeowners can often fixate internal issues. Such as adding new fixtures to their kitchens, changing paint colors, or remodeling a room completely. While these are helpful, they may not be as impactful as a new roof is when looking to increase value.
The team at Austermiller have previously discussed the perks of having a new roof when looking to sell, but it is still an impactful idea to install a new roof when simply looking to add value to your home. Not only can a new roof increase the current value of your home, but it can also help you in the future, if and when you do decide to sell.
New roofs can:
- Reduce home insurance premiums
- Increase chances of getting asking price
- Create a more positive curb appeal
How an Old Roof Impacts Home Value
What would happen to the value of your home if you were to neglect the roof completely? Perhaps you’re thinking, “why fix something, if it isn’t broken?” When it comes to investing in your home, for the sake of current and future value, this may not be an ideal concept to be practicing. Rather, you may see stronger benefits with staying up to date with any home maintenance or repairs!
If you don’t see any visible mishaps with your current roof, that does not necessarily mean that it is in prime condition. There can be hidden issues with your current roof, and even the age of your roof can impact its condition. If you’re not sure, you can always request a free inspection from the team at Austermiller.
An old roof that has not been maintained, or properly replaced, will impact the value of your home negatively. This can look like:
- Poor curb appeal
- Longer time on the market with the chance of a lower asking price
- Impacting coverage from home insurers
Roofing Material and Home’s Value
Now that we have a better understanding as to how a new roof increases a home’s value, let’s look deeper into the two types of roofing material that can play into the value of your home. Two common materials for roofing are from shingles or metal. Both can impact your home’s value, curb appeal, and aesthetics in unique ways.
Metal Roofing
Metal roofs are known for a variety of things, from their looks to their durability, many homeowners feel more confident with metal roofing. This type of roofing is an excellent option for homeowners who are looking to restore or repair a historic home. It also blends well on modern architecture with the proper color combinations. Metal roofing comes in a variety of different styles and colors, and helps to create a sleek, modern, or warm feel to your home!
Because metal roofing serves a more modern aesthetic, it adds to its home’s curb appeal naturally.
Additionally, metal roofing can offer homeowners more durability and longevity, with its ability to withstand heavy rains or storms. Because of these factors, a metal roofing increases the value of your home, especially when it comes to selling.
Shingle Roofing
Another popular roofing material is shingles, which have been around for about one hundred years! Shingles are typically sourced from asphalt and are a very common sight to see on the top of homes. Shingle roofing is more affordable than most roofing material, and it is easy to repair or replace.
Regarding its aesthetics, shingle roofing comes in a variety of colors and can blend well with different home designs. With the right shade of shingle roofing to compliment the shade and color of your home, homeowners can really add some flare to their home’s curb appeal.
Since curb appeal plays into the home’s value, its important to consider the visual look of a roof and how it compliments the whole look of your home. For example, a ribbon shaped shingle roofing can create a more classic and vintage look. While a three-tab shingle provides a traditional and timeless feel to a home.
“Does a new roof increase the value of your home? You bet it does and don’t just take our word for it. The National Association of Realtors say that if you install a designer roof on your home it increases the value of your home by 7% AND 100% of the cost of the roof goes right on top of the sales price of your home. Better Homes and Gardens says that 40% of the curb appeal of your home is your roof so almost half of what people see when they drive by your house is your roof.” says Nate Bracy, Territory Manager of GAF.
HOA Roofing Requirements
Regardless of which direction you go when deciding the right roofing material for your home, it’s always recommended to check in with your HOA, if applicable. Since many HOAs have standards or requirements as to what you can add or change to your home, it is beneficial to seek their guidelines first. Starting here is smart, as it can help you save time and money, and better focus your roofing efforts under any HOA guideline(s).
Increasing Your Home Value With a New Roof From Austermiller
If you think the next step to increase your home’s value is by replacing your roof, then connect with our team at Austermiller. Our team of skilled, and dedicated, our contractors are here to help meet your roofing needs and goals! We also offer free estimates for any of your roofing projects, and would be happy to answer any questions you may have along the way.
“At Austermiller our heartbeat is to bring you quality service and quality products. We do just that with our dedicated and certified contractors with keen insight on all things roofing. Contact us today to learn more, how we can help to increase the value of your home with a new roof, and for a free estimate!” – M.J. Garrett, Sales and Marketing Director at Austermiller Inc.
We look forward to hearing from you, and helping you bring further value to your already beloved home.