Does a new roof increase home value?
Does a new roof increase home value?
How much does a new roof increase home value?
A new roof can increase your home's value, providing a 60% to 85% average return on investment (ROI), depending on the roofing material, durability, energy efficiency, and aesthetic appeal. The local real estate market and the overall condition of the home also factor into the total increase in value.
While you may not recoup the entire cost of the project, a new roof offers many benefits, including enhanced curb appeal, improved energy efficiency, and peace of mind for potential buyers.
Which roofing materials have the highest ROI?
Metal, copper, and slate roofs offer the highest return on investment (ROI) due to their durability and long lifespan. These materials enhance property value, lower your long-term maintenance costs, and increase a home's curb appeal. However, other popular materials like asphalt shingles also increase home value.
Let’s look at some popular roofing materials and their potential ROI to help you make an informed choice!
| Roofing material | Cost per square foot | Average roof cost* |
|---|---|---|
| Asphalt shingles | $3 – $5 | $5,000 – $8,500 |
| Metal | $5 – $16 | $8,500 – $27,000 |
| Composite roof | $7 – $14 | $12,000 – $24,000 |
| Wood shake | $7 – $15 | $12,000 – $25,500 |
| Concrete tiles | $7 – $19 | $12,000 – $32,000 |
| Clay tiles | $8 – $25 | $13,500 – $42,500 |
| Slate | $9 – $30 | $15,000 – $51,000 |
| Copper roof | $13 – $30 | $22,000 – $51,000 |
*For average 1,700 square foot roof size.
Asphalt shingles
Asphalt shingles are the most common and affordable roofing option in the US. They offer versatility in colors and styles and are easy to install. While they last 15 to 30 years, they provide a decent ROI of up to 61%, making them a popular choice for both new builds and replacements.
Metal roofing
Metal roofing is known for its durability and energy efficiency, lasting over 50 years. Although it is more expensive than asphalt, it resists fire, wind, and pests while reflecting solar heat to reduce energy costs. With an impressive ROI of up to 85.9%, metal roofing is a smart long-term investment for homeowners.
Composite roofing
Composite roofing is a modern, versatile option made from recycled plastics and rubber. It mimics the appearance of natural materials like slate or wood while offering superior durability and weather resistance. Typically lasting 30 to 50 years, composite shingles require minimal maintenance and provide a solid return on investment of around 67%.
Wood shingles and shakes
Wood roof shingles and shakes provide a natural aesthetic that appeals to many homeowners. Typically made from cedar or redwood, they can last up to 30 years with proper maintenance. These roofs also enhance curb appeal significantly, making them a worthwhile investment.
Concrete tiles
Concrete roofing tiles are a durable and versatile option, typically lasting 50 years or more. Made from a mixture of sand and cement, they come in various styles that can mimic the appearance of more expensive materials. Concrete tiles are generally more affordable than other premium options and can offer a solid ROI, often recouping around 60% of their cost at resale.
Clay tile
Clay roofing tiles are known for their durability and aesthetic appeal, often seen in Mediterranean-style homes. Made from natural clay, these tiles can last over 100 years with proper installation and maintenance. While they are one of the more expensive roofing options, their longevity can provide a strong ROI.
Slate
Slate roofing is exceptionally durable, often lasting over a century. It offers a high-end appearance and excellent resistance to fire and adverse weather. While it's among the most expensive options and requires specialized installation, slate roofing can provide an excellent ROI of up to 85% due to its longevity and added home value.
Copper roof
Copper roofs are also known for their aesthetic appeal and longevity, with a lifespan of over 100 years. Although copper is an expensive option, it offers excellent long-term value due to its durability and low maintenance. With a protective natural patina that enhances weather resistance, copper roofs can provide an impressive ROI of up to 86%.
Benefits of a new roof
Beyond increased home value, installing a new roof offers several additional benefits:
Enhanced curb appeal: A new roof can dramatically improve the appearance of your home, making it more attractive to potential buyers and increasing its market value.
Improved energy efficiency: Modern roofing materials can reflect more sunlight, reducing cooling costs.
Better protection: New roofs offer superior protection against leaks and weather damage, preventing potentially dangerous mold and mildew growth.
New roof warranty: Many new roofs come with lengthy warranties, providing peace of mind to homeowners and potential buyers.
Lower insurance premiums: Installing a new roof may qualify you for reduced homeowners insurance premiums, depending on your policy and location.
Getting estimates from roof installers
Getting estimates from roof installers is a key step in enhancing your home's value. A well-chosen roof not only protects your home but also significantly boosts its market appeal. Follow these tips to get the most accurate estimates:
Get multiple quotes: Aim for at least three estimates from different local contractors.
Ask consistent questions: Use the same set of questions for each contractor to compare their responses and services.
Find a specialist: Choose a roofer who specializes in your material of choice, as they will have the expertise needed for proper installation and can provide valuable insights on maintenance.
Check credentials: Verify that the contractors are licensed and insured to protect yourself from potential liabilities.
Have your roof inspected: Schedule a roof inspection to identify necessary repairs or replacements, ensuring accurate estimates.
Break down costs: Ensure each estimate includes a detailed breakdown of material and labor costs for transparency.
Review warranties: Look for comprehensive warranties covering both materials and workmanship to safeguard your investment.
Questions to ask a roofing contractor
Be sure to ask your roofing contractor these important questions before signing a contract:
How long have you been in business?
Are you licensed and insured?
Which roofing materials do you recommend for the best return on investment?
Can you provide references from past clients?
Will you obtain the necessary permits?
What is the estimated timeline for completion?
How do you handle unexpected issues or additional costs?
What is your warranty policy?
How will you handle clean-up after the project?
What steps do you take for safety during the project?
Using our proprietary cost database, in-depth research, and collaboration with industry experts, we deliver accurate, up-to-date pricing and insights you can trust, every time.