How Much Does a New Roof Increase Home Value? Here Are the Numbers

You must be wondering how much a new roof increases home value. Whether you want to keep using your house or sell it, a new roof will be the investment you can consider.

How Much Does a New Roof Increase Home Value?

When we look at the report for cost vs value in 2023, the national average cost for a new asphalt shingle is $29,136 with an ROI of 61.1%. This means you will get an increased $17,807 home value when you sell the house.

how much does a new roof increase home value

Meanwhile, for standing seam metal, the average cost is $47,414, with only 48.9% ROI. So you will get an increased $23,163 home value when you sell the house. As you can see, each material will have a different ROI, and the percentage might be different from one area to another.

Read also: Metal Roof Standing Seam Profiles

A Few Things to Consider If You Want to Replace the Roof Before Selling

You might want to replace the roof before you list the house if the existing roof might cause problems during sales. However, you need to ensure that you need a new roof since the cost is pretty high. Here are a few things to consider before making the decision.

  1. The existing roof condition

If you plan to sell your house, you must see if the existing roof is still in good condition. Ensure there is no leak since a leak will increase the buyers’ concern about whether the roof is in good condition.

Home appraisers will be able to detect the condition and may reduce your house value depending on how serious the problems are. If the condition worsens, getting a new roof might be a solution.

But if your roof is still new or only around 5 years old and in good condition. Then you do not need a new roof as it will not benefit the house too much.

  1. The market

Pay attention to the market since each market is different. Your new roof might increase the house value in one market but might not the other. So, before you get a new roof, it is better to ask your agent about the local market condition.

  1. Choose the right shingles

When you get a new roof, you must choose the right shingles. As you can see, different shingles will have different ROIs, and they are also based on the region. Again, it is better to ask your agent which shingles are preferred in your local market before deciding anything.

New Roof Can Be a Good Investment

  1. With a new roof, you can maximize your asking price. Especially when the house is in prime condition, the home appraiser might value your house at a good price. It will also increase the chance for buyers to offer your full price since they know they get good value from the house.
  2. Any problem in your house will hinder the negotiation process. The roof problem is no different, or maybe it will have a bigger impact as the cost of a new roof is pretty high. So, if you want a smooth negotiation, a new roof could be the solution, especially if the other part of your house is already in prime condition.
  3. A house with an old roof might take more time to be sold. Buyers might still have concerns even if they do not have huge roof problems. So, if you have a new roof, it can help eliminate the concern so your house will be sold immediately.

Conclusion Now that you know how much a new roof increases home value, it is time to decide whether you want to do it. Remember to do your research beforehand to get the best value.

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RoofLast is an experienced author and roofing expert. With years of practical experience in the field authored several informative articles on various aspects of roofing, including installation, maintenance, and repair