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Pharell Williams might be happy to dance and sing in “a room without a roof,” but not so much for homeowners in the Tampa Bay area. If tiles are falling from your existing roof, or it’s simply worn down from hot weather or age, you may be wondering if a new roof will add value to your Florida home.
Whether or not a new roof can truly add value to a home—and generate the return on investment that you desire—depends on a number of factors:
- Is there a need for a new roof? (structural, aesthetic, or both)
- Budget for replacing the old roof
- Length of time you will remain in the home after the new roof is installed
If the roof is in disrepair, is over 15 years old, or has not been properly maintained then it is definitely time to replace the roof. Even if your roof “looks good” and hasn’t had any active leaks, if your property has been through more than one severe Florida storm, there may be underlying damage, not yet visible to you. A roof estimate can reveal these hidden problems and help you determine the proper course of action.
If there is a clear need, replacing the roof adds value by:
- Reducing cooling and heating costs
- Preventing leaks that result in costly internal and external damage
- Enhancing curb appeal (provided the rest of your exterior is in good condition, too)
WHAT IS YOUR BUDGET FOR A NEW ROOF?
If you’ve determined there’s a definite need to replace the roof, you want to set a budget. One big factor associated with budget is how long you plan to remain in the home after the new roof is installed. Depending on the size of your home, a new roof can cost anywhere from $8,000 to $30,000.
If you know you are going to sell your home within a couple of years, make the essential roof repairs or replacements that would come up in a home estimate. If you are planning to sell, don’t opt for the high-end of the roofing price range. You will not gain an attractive ROI by installing a high price roof and moving out of the house a year later. Like Goldilocks, opt for a ‘just right’ cost for materials and labor–not too high and definitely don’t go cheap. If you will remain in the home for many more years, then you have more time to gain back on your investment in the new roof.
The other essential factors that go into budget are type of roof and method of installation. Many people just lay a new roof over the old roof. That is usually not the best choice. If the old roof has any problems, putting a new roof over top is about as effective as a band-aid is for a puncture wound that won’t stop bleeding.
To determine the best approach for installing a new roof, and getting the most value from it, you need an estimate by a qualified roofing contractor. Legend Roofing can help you with an assessment of your roof and offer attractive options within your budget.
WILL ADDING A NEW ROOF INCREASE YOUR HOME’S RESALE VALUE?
You could definitely increase the resale value of your home if you add a new roof.
In a cost versus value survey conducted by Remodeling Magazine, a new roof can increase your home’s value by around $15,000. (Mid-range priced materials for a new roof installation costs the homeowner an average of $22,600.) The survey also indicates that when you have a new roof installed, you can recover close to 68% of the installation cost through the increased value.
Don’t forget, a roof is one aspect of a home’s value. The siding, windows, HVAC and other mechanicals are all components of value, as well as the aesthetics and location of the home. If the rest of your home is in great condition, well maintained, then adding a mid-price new roof could be the finishing touch that elevates your home’s resale value. Just make sure you are aware of what buyers in your area are looking for– asphalt, tile, metal, and various green roofing options are available to you and some may be more attractive to buyers than others..
Whether or not now is the time to install a new roof isn’t a decision to be made without the advice of experts. Contact the pros at Legend Roofing for an assessment of your roof.
WHAT TYPE OF ROOF SHOULD BE INSTALLED?
The other essential factors that go into budget are type of roof and method of installation. Many people just lay a new roof over the old roof. That is usually not the best choice. If the old roof has any problems, putting a new roof over top is about as effective as a band-aid is for a puncture wound that won’t stop bleeding.
Of all the costs involved in roof installation, the material you choose is the one factor that you have the most control over. The fancier and better quality roofing materials will cost more.
A professional roofer will discuss various factors that will lead you to a subset of materials that will be functional, attractive, and within your budget. Some of these factors are:
- geography of the area
- how much sun and wind hits the roof
- ventilation and insulation issues
- type of warranty you desire
These factors, and many others, will guide your decision for type of materials. Today, you have so many option for type of shingle and color, as well as shape:
- Metal
- TinRubber
- Concrete
- TileAsphalt
- Wood
- Clay
- Stone
- Slate
Ask your roofing professional about installation options. Depending on the age of your existing roof and its condition, you might be able to use the plywood that is already installed. In other cases, the old roof must be taken down to the bare bones for the new roof to give your home the protection needed.
TO DETERMINE THE BEST APPROACH FOR INSTALLING A NEW ROOF, AND GETTING THE MOST VALUE FROM IT, YOU NEED AN INSPECTION BY A QUALIFIED ROOFING CONTRACTOR.
Legend Roofing can help you with an assessment of your roof and offer attractive options within your budget.
WILL ADDING A NEW ROOF INCREASE YOUR HOME’S RESALE VALUE?
You could definitely increase the resale value of your home if you add a new roof.
In a cost versus value survey conducted by Remodeling Magazine, a new roof can increase your home’s value by around $15,000. (Mid-range priced materials for a new roof installation costs the homeowner an average of $22,600.) The survey also indicates that when you have a new roof installed, you can recover close to 68% of the installation cost through the increased value.
Don’t forget, a roof is one aspect of a home’s value. The siding, windows, HVAC and other mechanicals are all components of value, as well as the aesthetics and location of the home. If the rest of your home is in great condition, well maintained, then adding a mid-price new roof could be the finishing touch that elevates your home’s resale value. Just make sure you are aware of what buyers in your area are looking for– asphalt, tile, metal, and various green roofing options are available to you and some may be more attractive to buyers than others..
OTHER WAYS A NEW ROOF ADDS VALUE TO YOUR HOME
According to HomeAdvisor, a new roof adds value in way that you might not think about:
It Looks Good from the Curb. The all important curb appeal is brought to new heights with the various styles of architectural-grade asphalt and tile shingles. For asphalt, the variation of color, texture and style options will amaze you. If you’re going for tile roofing, as many Floridians do, you’ve got several options to consider, including ceramic, clay, metal, concrete, bituminous, polymer-sand, copper, composite and stone.
Warranties. Standard warranties for roofing materials have been about 20 years. With higher end material, you can obtain warranty coverage up to 50 years. When you go to sell the home, warranties are generally transferable to the new owner. Both make great selling points.
Cool Roof Technology. Many types of shingles have ENERGY STAR rating because they are designed to reflect solar heat, thereby reducing cooling costs.
Easier Inspection Process. More than any other feature of your home, the roof stands out to buyers, appraisers, and inspectors. A new roof, properly installed for your home style and geographic area and with strong warranties can make the estimate and sales process go much smoother.
DON’T OVER PAY FOR YOUR ROOF
We can talk a great deal about this topic, and we will in a future blog post, For now, we’d like to leave you with a few general tips about now overpaying for a new roof:
Get at least 3 quotes from roofing professionals
1.Make sure each company you are looking at is licensed and insured.
2.Get references and check them. Go see their work on other homes.
3.Ask them for a start-to-finish timeline for your job. Do they offer a promise that, if they don’t start within a reasonable range from the start date, you can be released fromt eh contract?
4.Compare apples to apples. The lowest bid may have hidden costs, so read through everything very carefully. If you have two bids close in price, are they using the same exact materials and installation methods? Are they charging similarly for labor?
5.Understand each contractor’s guarantee/ warranty of their work and get it in writing.
Whether or not now is the time to install a new roof isn’t a decision to be made without the advice of experts. Contact the pros at Legend Roofing for an assessment of your roof and for a no-obligation discussion of your needs and preferences for a new roof.
You might also find these resources, all from Consumer Reports, to be helpful as you evaluate the roofing professionals available for hire in your area:
Consumer Reports Best Roofing Buying Guide
This resource is from a Florida-based Home Inspection Company: Best Roofing Materials for Homes in Florida