How much value does a new roof bring to your home?
For most homeowners, replacing the roof on their house is not as exciting as upgrading their kitchen or remodeling a bathroom. The price of a new roof can be considerable and homeowners feel like they don’t get to enjoy it as much as they do other home renovations. The thing about the roof is that it protects everything else inside the house: your nice kitchen, your beautiful bathroom, and most importantly, your family. Aside from protecting the interior of your home, did you know that a new roof can also save you money and increase the value of your house?
Each year, Remodeling Magazine conducts an extensive research that compares the return on investment for a wide range of home improvements. Kitchen remodels, new decks, replacement of siding and bathroom additions are among the many remodeling projects included in the survey. According to the Remodeling Magazine’s 2019 Cost vs. Value Report, homeowners who have a new roof installed can expect to recover an average of 63.0% of the installation cost through increased home value. This figure puts having a new roof installed ahead of major kitchen remodel and bathroom addition in terms of ROI.
A new roof not only increases the value of your home, it can also save you money on cooling and heating bills and, of course, improve the curb appeal of your house. There is no doubt that replacing the roof of your house is a big investment and you should take the time to find a trustworthy contractor to complete the job. We advise not to sacrifice quality for price. How much should you expect to pay for a new roof? The investment will vary depending on your roof’s size, the roof material that you want installed and a few other factors.