How Much Does a New Roof Increase Home Value for Resale?
When considering pre-listing home improvements, homeowners generally want to sell faster, sell for more money or, in a perfect world, both. Without impacting speed and returns, pre-sale renovations really don’t make much sense.
The average cost of an asphalt roof replacement is $22,636. With such a significant amount of money, if you’re replacing your roof to sell, you’ll want to make sure the returns are there. If you go off of Remodeling Magazine’s Cost vs. Value Report, then you might be thinking it’s definitely not worth it to replace a roof right before selling. It’s important to keep in mind, however, that this data is pulled for all home improvement projects—not those done immediately before resale. If you live in a home for 20 years and replace your roof after 10, then by the time you sell your home, that roof is 10 years old. A 10-year-old roof doesn’t provide the same value as a brand new one.
Because of the number of factors involved—climate, maintenance, material, age—we always recommend you work with a licensed real estate agent who will partner with Curbio to determine the cost and returns of a new roof. Your agent can request a free, same-day estimate from Curbio, then discuss with you if it’s necessary to get a new roof to sell, what value a new roof will add, and how much a new roof can help speed up your home sale.
Courtesy of Curbio