Investing in Your Home: The ROI of Roof Replacements
Feb 26, 2024When you’re looking into the future and thinking about maximizing the return on investment (ROI) that comes from selling your home, you’ll likely consider the idea of investing in a roof replacement. After all, a new roof is bound to add value to your home and, as a result, yield a high ROI. According to the Georgia Association of Realtors, a roof replacement can result in a 108% ROI, making it one of the best upgrades you can make before selling your home.
It’s important to consider the question of whether or not you need a roof replacement before selling your home, however. If your roof is in good condition and won’t need replacing soon after being bought, it makes less sense to spend the money that such a project costs. You won’t add much more resale value to your home, meaning you’ll get less of a return on your investment.
On the other hand, if your roof is underperforming or looking worse for wear and will soon need replacing, that’s when you’ll be able to get the most ROI. A roof that needs serious repair work or even replacing is going to drag down the value of your home, meaning there’s more opportunity for a higher ROI if you invest in a replacement beforehand. In that scenario, you’re putting money into your home to increase its overall value, and there’s a lot of value in selling a home that just had its roof replaced vs. selling one that still needs a new roof in the coming year or so.
Why Might a Roof Replacement Enhance Your Home’s Resale Value?
Prospective home buyers aren’t likely to be thrilled by the prospect of buying a home that will soon need a new roof. Think about it logically: The home buyer is about to spend a significant sum of money on a new house, so why would they be interested in doing so and then turning right around to spend even more money on a roof replacement? Instead, they’d be more inclined to spend more money up front, buying a house that recently had a new roof installed. It saves them the time and hassle, and it can mean you benefit from a higher resale value and thus, a nice ROI on your investment in the roof replacement project.
The Benefits of Investing in a Roof Replacement
There’s more to the ROI of your roof replacement than the potential boost in resale value that you’ll experience when it comes time to sell your home. There’s plenty of advantages to replacing your roof, and these are advantages that you’ll enjoy while you still live in the home and will be a plus for any home buyer who lives in your home after you. Consider that a roof replacement will:
- Enhance curb appeal – The roof makes up a sizable portion of a home’s curb appeal, meaning a newly installed system will work wonders for the overall exterior aesthetic of your home. A roof with discolored, damaged, or missing shingles, on the other hand, will negatively impact the beauty of your home.
- Improve safety – A roof replacement allows you to enjoy peace of mind that you wouldn’t otherwise have with an aging roof. Older roofs are prone to mold and mildew growth, plus they’re more vulnerable to severe weather and high wind speeds. With a roof replacement, you’ll be able to count on better protection for you and your loved ones.
- Increase energy efficiency – Older roofs are less insulative, meaning heat can easily make its way into your home during the summer and cold temperatures will be able to infiltrate it during the wintertime. With a new roof, you can not only improve energy efficiency for more comfort, but also for potential savings on monthly energy bills.
Get the Best ROI On Your Roof Replacement By Partnering With Us
If you’re in the market for a roof replacement—whether for your own benefit or for the benefit of your home’s resale value—Roofing Done Wright is the team to rely on. Contact us today to learn more about maximizing ROI on your roof replacement and the benefits that come with such a project.