Does a New Roof Improve Your Home’s Value?

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.

1. Appearance upgrade.Architectural-grade asphalt shingles provide color and texture options that can fit the style of your home.
2. Longer warranties.Asphalt shingles used to have standard 15- to 20-year warranties. Nowadays, premium-quality shingles offer warranties up to 50 years.
3. Cool roof technology.Reflective roofing options can help reduce heat absorption and cooling costs, depending on the product and building.

For professional 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. Request a quote with the booking form on this page or call (201) 472-5462. We serve residents of Bergen County, NJ, and the surrounding communities.