When you think of remodeling projects that boost the value of your home and make it more likely for buyers to shell out the big bucks, what comes to mind? Plenty of homeowners think about kitchen and bathroom renovations. While those projects do bring a great return on investment, it's often the less visible projects that have the biggest impact on your home's value. While few people might proudly show off their new shingles to visiting friends and family members, don't underestimate the value of new roof for your home.
Financial Value of New Roof
According to Remodeling's Annual Cost vs. Value report for 2017, the average mid-range cost to replace a roof nationwide is $20,664. The average resale value of a new roof is $14,214, meaning the typical homeowner recoups about 70 percent of the total cost.
Data from the National Association of REALTORS and the National Association of the Remodeling Industry's Remodeling Impact Report from 2015 reveals something similar. The report examined the overall satisfaction and resale value of 20 home projects, including 12 interior and eight exterior projects. Of those 20 projects, replacing a roof had the highest resale value of all.
Happiness Value of New Roof
Money is not the only way to measure the value of a roof replacement. It also helps to look at how satisfied people are with their new roofs. The Remodeling Impact Report used a metric known as a Joy Score to rate how happy people were with a particular project. According to the report, new roofing had a Joy Score of 9.6 (out of 10), putting it among the top five exterior home projects when it came to overall customer satisfaction. New roofs also make buyers happy, according to the report.
Replace vs. Repair: Which to Choose?
Whether you plan to sell your home soon or not, replacing an old, worn-out roof can pay off. But you might be wondering if replacing your roof is the way to go or if you're better off repairing it. The answer depends on the age of your roof and the amount of damage it has sustained. If your roof is more than 15 years old, has been leaking for no identifiable reason or if the shingles look bare, it might be time to replace the roof. If you have a newer roof and you have noticed small areas of damage due to a storm or other identifiable reason, repairing the problem areas might be a better option.
Having a professional from Findlay Roofing in Roswell, Georgia, perform a free roof analysis can help you decide if a full replacement is the best choice for you. The roof analysis includes an examination of your roof's shingles, pitch and dimensions, as well as determination of its age and ability to withstand certain types of weather. Contact us today to learn more.