Are you thinking of taking on home improvement projects to increase the value of your home? One of the things you might be considering for curb appeal is your roof. Getting a new set of shingles for your roof can really transform the entire look of your home. But is this actually worth the investment?
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It’s been found that new residential roofing can return you anywhere from 70 to 110 percent of what you invested. It is very possible for you to lose money on installing new shingles if all you’re looking for curb appeal. This figure is for a medium-sized home, and many factors will affect your return on investment.
The first factor is the condition of your roof. If you’re trying to sell your current home, many potential buyers will be turned off if they find your roof in bad condition. It will probably be worth investing in new shingles in this specific situation if you need to offload your home.
If your roof, however, has only a few years on it, then you’re getting shingles solely to improve the curb appeal. Opting for this upgrade will not be worth it since very few buyers will distinguish your current roof with a set of shingles. You will likely end up losing money on your investment.
The second factor is the local market. Is your local housing market in the middle of a boom? If so, you can probably increase your home’s value significantly by investing in various home improvement projects. The roof is one of the big improvement projects that can enhance your home’s curb appeal.
To see if getting new shingles makes sense, talk to your local real estate agents. They understand the market better than anyone. They will also have worked with several clients that have renovated their homes to increase curb appeal and value.
The third factor is the material of the shingles. Obviously, different materials, styles, and qualities will impact the price of residential roofing projects. If you do figure out that getting a new set of shingles will improve your home’s value, you have to consider material options.
The cost of reroofing can vary greatly. It can start from around $8,000 and go all the way above $20,000. When choosing materials, you want to think about what buyers are looking for and what material is the most cost-efficient. You have to go beyond curb appeal to ensure your investment is worth it.
If you have only certain parts of your roof that are damaged and have cosmetic imperfections, you should consider partial reroofing. This will provide you with significant savings over a complete reroofing project. You’ll want to talk to a roofing company to see the difference in costs between a full reroof and a partial reroofing job.
It’s very important to note that partial reroofing does not replace a full reroofing and shingle installation if your roof has significant damage. All you’re doing is attaching a band-aid that’s going to fall off in a few months. Homebuyers will also discover issues when they inspect your home before agreeing to a purchase.
In conclusion, getting new shingles can be a good decision based on the circumstances. In the bigger picture, your roof makes up a big portion of your home’s outer surface area. Improving it can return you a decent investment and help you increase the odds of selling your home in a strong real estate market. Reroofing your home just to improve the curb appeal isn’t a good reason to make the investment.
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