Roof replacement is probably not the first thing that comes to mind when thinking about adding value to your home. However, much to the surprise of many homeowners, it is one of the best ways to increase home value.
YES, installing a new roof indeed increases the value of your home! According to research done by Remodeling Magazine, a new roof increases home resale value by a National Average of just over $16,000. It was discovered that homeowners can expect to recover an average of 65.9% of the installation costs through the increased home value. This means that Installing a new roof provides higher value then a bathroom remodel or room addition in terms of Return on Investment. This is especially important if you want to sell your home and are looking for ways to increase your resale value.
Buyers of homes with newly installed shingles will be glad to know that most Roof Replacement Warranties are transferable. Meaning if there are any problems with the roof in the future, the new homeowner will be covered under the old homeowners’ warranty. Previously, standard-warranties used to be 15-20 years, but now, premium-quality asphalt shingle warranties are being offered for up to 50 years! New roofs are a more secure investment than ever before.
Aside from the curb appeal and Investment value, a new roof also provides necessary benefits to your home. New roofs can cut cooling costs down by reflecting solar heat and increases the efficiency of heat transfer through your attic, resulting in a cooler home interior.
5 Major Reasons to Install a New Roof
- Increased resale value
- Curb appeal, increased durability
- New shingles with longer warranties
- Increase cooling efficiency through home interior
- Current damage on the roof
Replacing a roof can be done as a retail purchase or through your homeowner’s insurance. Therefore, the cost of a new roof can vary. The average retail cost of a roof replacement in Florida is $8,000-$16,000. On the other hand, if your roof is covered by your homeowner’s insurance, you can be reimbursed partially or fully for the roof replacement.
ARICA Construction, LLC can help determine which route is best for you. If you have any questions about your roof or increasing the resale value of your home give us a call or visit our website for more info.