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Is a New Roof a Good Investment?

Homeowners have many things to think about when they’re considering improvements to their house, but one of the top considerations is determining which improvements are going to add value to their homes and provide a decent return on investment when they decide to sell. Getting a new roof is just one improvement that can make your roof worth more, but you have to be smart about it. When considering an investment in roofing Waterloo homeowners should seek professional advice to help them determine if a new roof is a good investment in their specific case.

A New Roof Impacts the Appraisal

Before you sell or refinance your home, you have to get an appraisal so that you know how much to list it for or how much equity you have. While a new roof may not drastically increase the appraisal value, a roof that’s in poor condition will definitely lower it. The roof is just about the first thing appraisers inspect because they know that it’s an indication of the overall condition of the house. Homeowners who take care of their roofs usually take care of the rest of their home as well.

Make Sure You Need a New Roof

As mentioned above, a roof is only a solid investment if you time it right. Getting a new roof just because you’re selling your home is not a good enough reason to replace it, particularly if you replace it with the same materials.  If your roof is in excellent condition, but is a few years old, there’s no need to spend your time and money on this particular improvement because it’s not going to provide a positive return on investment. 

To determine if you need a new roof, be on the lookout for missing shingles, damaged shingles, leaks, sagging, torn flashing, mold on the roof’s edges, crumbling caulking around the flashing, and water stains on your ceiling or walls. If you have water damage, getting your roof replaced offers an excellent opportunity to fix these other issues as well, which can have a positive impact on your home’s value.

Upgrade to New Technology

There is one exception to the caveat that you shouldn’t replace your roof unless it needs to be replaced. If you intend to upgrade your roof to incorporate new technology that lowers your energy bills, increases insulation, or is more weather resistant, you could be making a great investment by getting a new roof. Homeowners like to see energy efficient technology in a potential new home, especially if it will save them money as well. There are shingles that have built-in solar panels that can generate 1 kilowatt of energy per every 100 feet, which can make a huge dent in heating bills. 

Repair Instead of Replace

If you’re not sure whether you should replace your roof or not because it’s either not damaged enough or you don’t have the money, consider repairing it instead. Roof repairs can be just as good of an investment as replacing the roof if you make the house more protected than it was before the repairs. This approach can save you a significant amount of money while increasing your home’s value at the same time.

Conclusion

A new roof can really brighten up your house and increase its curb appeal, particularly if you’re putting it on the market. However, you need to ensure that you either really need to replace it or you have plans to upgrade your roof before you get a new one. This will guarantee that your investment in a new roof pays off in the end.

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