Many people often make the mistake of thinking that their roof is not an important consideration when it comes to valuing a home. This is totally false!! Your roof not only protects your home and everything inside but is also one of the largest and most obvious features that people see when they look at a home. So, the question is how much does your roof impact on the value of your home and what investments should you be making in it to ensure it holds its value?
1. Curb Appeal
Curb appeal is one of the largest considerations when it comes to valuing a home. First impressions of your home can be the critical deciding factor as to whether someone places an offer on your home.
As James Brooks of LJ Hooker Casino states “Vendors should ensure their homes façade is clean, welcoming and importantly, the reality matches the photos” (Paterson, 2017).
The roof is one of first things people see when looking at your home! Especially with the drone footage available today, a new roof or roof replacement is often not needed to update the look of your home. Not needing to replace your roof will save you thousands on roof replacement costs.
A coat of fresh paint on your roof can do wonders to the look and feel of a home. A roof restoration will be much more cost effective than a roof replacement and will add $$$ to the value of your home. However, if your roof needs replacement this will be a sound investment whether or not you are planning to sell the house. Storm damage and heavy rain can accelerate the need for roof replacements or repairs, and in some cases, minor repairs may be sufficient to restore your roof’s condition.
2. Roof Condition
As previously mentioned, your roof is the only thing protecting your home and everything in it, so if your roof is in bad condition this is going to attract below-market offers as potential buyers know they will need to rectify this themselves. Keeping your roof well maintained may not be as expensive as you think and will actually save you (or make you) money in the long run.
The main issues to look out for are cracked pointing, broken tiles, existing roof leaks, rust or mould spores/lichen. All these issues are easily rectifiable and not only extend the life of your roof but also boost the value of your property if in good condition. Repair cost for minor repairs is generally lower than full roof replacements, but extra cost may arise if there is damage to roof decking or if additional costs like permits or upgraded materials are needed.
3. Energy Efficiency
Energy efficient roofing is also becoming a growing factor that more and more home buyers are considering. People are not only wary of the increasing cost of energy in Australia but are also taking conscious steps to reduce their carbon footprint. By offering a home with a roof that is well insulated, uses electricity free ventilators (e.g. solar vents or whirlybirds) or has a heat reflective coating may actually be very enticing to many potential home owners!
It is important to note that a new roof will not always provide you with the best return on investment, especially if the roof is in relatively good condition already! Roof tiles have a minimum life span of 20 years and terracotta tiles have a minimum life span of 50 years, but often last much longer. The choice of roof material can significantly affect the overall project cost, installation complexity, and long-term durability. For example, three tab shingles are generally more affordable but less durable than cedar shingles or a metal roof, which offer greater longevity and weather resistance but at a higher cost. It is important to talk to a roofing professional to consider what option will be best for you and your home and get you the most bang for your buck! A reputable roofing company like Brisbane Roofing Solutions can help ensure compliance with building codes, offer roof warranty options, and avoid cut corners.
So, the big question is, how much will a roof restoration or a new roof add to the value of my home? The answer is, it depends! It’s very hard to say EXACTLY how much you can expect these improvements to add to your home. This is because it depends on so many variables including:
Condition of roof it is replacing
The condition of the current roof if only restoring it
Higher priced homes will gain more value from a roof in good condition as buyers will expect a more expensive home to be move in ready
Style of the new roof/ new colours chosen
Roof material
Project cost
Material cost
Square foot of roof
Additional costs
To give a rough indication some data suggests a new roof can add around 10-15% to the value of your property, but it is best to contact a professional roofing company who can take into consideration all the factors of your home and give you an accurate figure. The average price for a new roof can vary depending on square footage, material costs, and other factors such as the presence of a simple gable roof versus complex roof designs.
Complex roof designs, larger roofs, and high cost materials like metal roof or cedar shingles can lead to higher costs and impact the overall value added. Old roof removal, roof decking repairs, and compliance with building codes can add to the overall project cost. New roof installation and roof installation costs can vary depending on the complexity of the project and the materials chosen. Financing options are available for new roof installation, which can help homeowners manage the high cost of a new roof. Top contractors often use premium brands like Owens Corning for superior durability and wind resistance. The importance of a water barrier and drip edge in preventing water damage and ensuring the longevity of the new roof cannot be overstated.
If you are thinking of selling your home or are just wanting to maintain your current home, contact Brisbane Roofing Solutions today to provide you with a free quote! We can help with everything from a new roof to painting to a simple repair! Be sure to carefully examine quotes from roofing contractors to understand all potential extra cost, including drip edge, water barrier, and roof warranty.
The Impact of a New Roof on Home Value
A new roof is more than just a protective barrier for your home—it’s a significant investment that can dramatically increase your property’s value. Roof replacement costs can vary widely, influenced by factors such as roof size, the type of roofing materials chosen, and labor costs.
A new asphalt shingle roof can boost your home’s value by $10,000 to $20,000 and typically offers an ROI of around 56.9%. Metal roofs are also a popular choice, providing an ROI of approximately 48.1%. With proper installation and quality roofing materials, a new roof can last for decades, ensuring your home remains safe, secure, and attractive for years to come.
Understanding these factors can help you make informed decisions about your roofing project and maximize the value of your investment.
Signs You Need a New Roof
Knowing when it’s time for a roof replacement is crucial for protecting your home and avoiding costly repairs down the line. Some of the most common signs that you may need a new roof include missing, curling, or broken asphalt shingles, as well as visible water stains on your ceilings or walls. The presence of moisture or mold inside your home can also indicate roof damage that needs immediate attention. If you notice significant granule loss from your asphalt shingles, it’s a clear sign that your roof’s protective layer is wearing thin. Roofs that are more than 15 years old and showing signs of wear—such as missing or curling shingles—are often due for replacement. Consulting with a professional roofing contractor is the best way to assess the condition of your roof and determine whether a full roof replacement or a simple repair is needed. Regular roof inspections, ideally on an annual basis, can help you catch potential issues early and ensure your roof remains in top condition, safeguarding your home from further damage.
Factors That Influence the Value Added by a New Roof
The value a new roof adds to your home depends on several important factors. The type of roofing material you choose—whether it’s asphalt shingles, metal roofs, or tile roofs—can significantly impact both the cost of a new roof and the value it brings to your property. The size and complexity of your roof also play a major role, as larger or more intricate roofs require more materials and skilled labor, increasing the total roof replacement cost. Labor costs typically make up 40% to 60% of the overall expense, so hiring an experienced roofing contractor is essential to ensure proper installation and long-lasting results. A high-quality roof replacement not only enhances your home’s curb appeal but can also improve energy efficiency, reduce ongoing maintenance costs, and provide peace of mind for years to come. By carefully considering these factors, you can maximize the return on your roofing investment and enjoy a safer, more comfortable home.
Roof Materials and Their Costs
Choosing the right roofing material is a significant factor in determining the overall cost and longevity of your roof replacement project. Asphalt shingles remain a popular and cost-effective option, with prices typically ranging from $3.40 to $8.75 per square foot. For those seeking durability and a modern look, metal roofs are an excellent choice, though they come at a higher price point—anywhere from $6 to $35 per square foot. Tile roofs, including both clay and concrete varieties, offer a distinctive appearance and long lifespan, with costs between $12 and $25 per square foot. Wood shingles or shakes provide a natural aesthetic and generally cost between $6 and $14.30 per square foot, while slate roofing, known for its elegance and durability, can range from $12 to $30 per square foot. When planning your roof replacement, it’s important to factor in not only the primary roofing material but also the cost of underlayment, starter shingles, and other necessary accessories. The right choice of materials can significantly impact the total cost of your roofing project, as well as the long-term value and performance of your new roof.
