How Roofs Renovations Contribute to the Value of Your Home
When it comes to spending money on roofing renovations, we often struggle with whether the repairs are going to add enough to our property value to make the cost worth it. The right balance between money spent and value earned is a difficult one to achieve. Spend too much or too little on a repair and it will simply not be worth it in the end. While people are sure to notice improvements on the inside when estimating your property value, the condition of your roof will definitely factor into the estimate. A well-maintained or renovated roof affects your estimate in more ways than you may think. So, how exactly does a roof contribute to a home’s value?
A new wooden or asphalt roof has a lifespan of 20-30 years (50-70 for metal roofs). When calculating the value of a house, an estimator will take the age of a roof into account. On average, a total roof replacement can add approximately $14,000 in resale value to a house. Furthermore, a new buyer is more likely to pay more for a house with a new roof because it will be one less factor to worry about in terms of future costs. Lastly, a new roof often comes with a warranty which will cover a wide range of issues that may come up in the future.
A new or renovated roof not only adds to the property value of your house, it makes it more aesthetically appealing. A roof that is an eyesore reduces the value and charm of a house. Nobody wants to buy or rent a house that has a decrepit roof that looks like it is on its last legs. A poorly-maintained roof will also reflect badly on you and may cause animosity between you and the rest of the neighborhood.
Newer roofs are designed to be much more energy-efficient. This is because the materials used have solar-reflectance. In laboratory tests, solar-reflectance has been shown to reduce the average heat-absorption rate of a roof by approximately 30%. This means that less heat gets into the house during hot days, therefore an AC unit does not need to be run for as long. On the other hand, a properly insulated roof will also keep a house warm during colder days because it will keep heat from escaping as it rises.
Are you wondering if it is time for a roof replacement or repair? Or, do you have other questions that we can answer? Feel free to contact us and speak to a representative today. Whether you are looking for a replacement, repair, or just have questions for us, at The Roof Clinic our goal is to keep you covered.