Typically homeowners are all too ready to clean their roof or make necessary repairs, but they might be hesitant to replace their roof. If you’re unsure about how replacing your roof is going to affect your home value, consider these 3 factors.
1. How Old the Roof Is
Before you post your home to sell, determine if your roof is due for a replacement based on its age. According to Homelight.com, roofing materials age at different rates:
- Asphalt shingles: 15 to 30 years
- Architectural shingles: 25 to 30 years
- Wood shingles: 30 years with regular maintenance
- Clay tiles: 50 years or more
- Metal roofing: Up to 70 years
- Slate tile: 50 to 100+ years
So depending on the material your roof is made out of and how old it is, a replacement could boost the value of your home. You may not get a full ROI (return on investment), but you should be able to ask more for your home than you could with the old roof.
2. What Condition the Roof Is In
Sometimes all your roof needs is a little TLC: a minor repair here, a patch there, and the gutters cleaned out. Minor repairs and cleaning aren’t going to significantly increase the value of your home, but they do boost your curb appeal!
On the other hand, if your roof has water damage, major leaks, a lot of missing shingles, etc. you may need to replace your roof so that buyers don’t try to negotiate a lower price. And you’ll be able to put “new roof!” in the listing, which is always attractive to buyers. Homebuyers want a house that is move-in ready. The last thing they want to do is have to replace the roof as soon as they get the keys!
3. How Quickly You’re Wanting to Sell
According to Zillow, “While a new roof can be expensive, it might be worth it when you consider the negative impact your current roof could have on your sale.” Zillow says that if you don’t fix or replace your roof, you may get fewer offers, it may take longer to sell your home, or you may have to reduce the price in order to appease nervous buyers. Not replacing your roof when it actually needs it may mean you have to wait a long time to sell, and you run the risk of having to reduce your asking price in the end.
Before you sell your home, consider the age and condition of your roof and how quickly you want to sell. When in doubt, have a roof inspector assess how much a replacement would increase the value of your home. They can give you a more specific idea of how much value a replacement would add and help you decide if it’s worth it for you.