Adding a brand-new roof to your home is a powerful tool when it comes to attracting potential buyers, and especially since most buyers cannot handle big-budget expenses like asphalt shingles installation after they have purchased a home. Does it mean installing premium shingles will increase your home value? It depends.
How Much Does a New Roof Increase Your Home Value?
A new roof is a reasonable home improvement to invest in. According to Remodeling’s 2019 Cost vs. Value Report, the average American homeowner spends $22,636 on a new asphalt roof of midrange quality. That new roof will improve the value of the house by $15,427 or 68 percent on average. However, other research has shown that a newly installed roof adds more to the appraisal value. A remodeling impact report done by the National Association of the Remodeling Industry (NARI) found that new roofs provide a 109 percent return on investment.
Whether your roof will make a 60 percent return or boost your property above its own costs will depend on three factors: the condition of your roof, the real estate market conditions in your area, and the type of replacement installed by your residential roofing contractor.
Reasons to Install a New Roof
In addition to the potential increase in resale value, installing a new roof has other excellent benefits.
- Appearance upgrade. Architectural-grade asphalt shingles provide color and texture options that can fit the style of your home.
- Longer warranties. Asphalt shingles used to have standard 15- to 20-year warranties. Nowadays, premium-quality shingles offer warranties up to 50 years.
- Cool roof technology. Many modern-day roofing systems have an ENERGY STAR® rating and can cut back on cooling costs.
For top-rated residential roofing services in New Jersey, get in touch with Dior Construction. We will take our time to take a look at your home, listen to your concerns and come up with long-term solutions that fit your needs and budget. Call us at (833) 838-3467 or fill out our contact form for a free quote. We serve residents of Bergen County, NJ, and the surrounding communities.
