If you are currently looking to put your home on the market, it is a smart idea to search for ways to help drive up the value. Alternatively, maybe you aren’t intending to sell your home any time soon, but simply want to prepare for the future while reaping the benefits of increased home equity in the meantime. In either case, replacing your current asphalt-shingled roof with a metal roof is an ideal strategy to drive up the value of your home.
Does a New Metal Roof Provide a Good Return on Investment?
Homebuyers appreciate a good roof for more reasons than one. First and foremost, however, consider that after buying a home, most buyers don’t have money set aside to spend on a new roof. For this reason, homebuyers gravitate toward homes with newer roofs, or roofs that are still under warranty and in good condition. If you are already experiencing issues with your roof, if it is out of warranty, or if your roof is nearing the end of its practical life, it could be a wise decision to get a roof replacement before selling your home. In particular having a durable, stylish metal roof installed on your home is a great way to increase your home’s value, giving you a good return on your roofing investment (ROI).
Whether or not you are planning to sell your home soon, it’s important to consider the ways your decisions impact the value of your home and your ROI. Choosing a metal roof can have the following financial impacts on your home’s value:
- A Metal Roof Improves the Energy Efficiency of Your HomeMetal roofs are a particularly energy efficient option, and energy efficiency not only saves you money but appeals to potential buyers. The benefits of metal roofing for energy efficiency lie in the unique thermal properties of a metal roof, especially when compared to other, more traditional roofing materials like asphalt shingles. In fact, asphalt shingles and metal roofs have a very different response to heat, and this can have a substantial impact on your heating and cooling bills year round.Metal roofs have the advantage of reflecting heat, rather than absorbing it like darker materials with a higher thermal weight. While the surface of a metal roof may feel hot in the sunlight, very little of this heat is actually being absorbed into the material and radiating from your roof into your home. Instead, energy is directed back into the air. These properties will save potential homebuyers money on cooling costs and can raise your home’s value by an average of $8,728.
- Metal Roofs Are Low Maintenance and Don’t Require Frequent ReplacementsCompared to other popular roofing materials, metal roofs are especially low maintenance. They are much slower to weather and stand up to wind, rain, UV radiation, rainfall, and hail. Since metal roofs are so durable, they are often able to last for over 50 years before requiring a replacement, and may feature warranties extending past 40 years.Asphalt shingles, however, are an entirely different story. Shingles are far more susceptible to damage from storms and normal weather conditions, leading to more repairs and upkeep responsibilities. Further, due to their lower durability, asphalt shingles typically only last around 15 to 30 years. More frequent roofing replacement costs can be a deterrent for homebuyers.
- Metal Roofs Can Reduce Your Insurance PremiumWith higher durability and lower maintenance comes a much lower chance that your homeowner’s insurance policy will need to pay for repairs or replacement of your roof. Insurance companies often lower their premiums for homeowners with highly durable building materials. Therefore, a metal roof may help you save money on your homeowner’s insurance premiums. In turn, lower premiums are attractive for homebuyers and may help raise your property value.
- A Metal Roof Can Increase Your Curb Appeal and Your ROIMetal roofs are available in a variety of attractive colors and styles, which can help improve your home’s curb appeal as opposed to an aging asphalt-shingled roof. In fact, great curb appeal can increase your home’s value by as much as 7%. This makes metal roofing an effective option for further boosting your home’s value, and can make the money spent on a new roof well worth the investment.For instance, you could end up recouping around 86% of the cost spent on installing a metal roof, whenever you opt to sell your home. In the eastern regions of the United States, however, homeowners may end up recouping as much as 95.5% of the cost they spent on installing a metal roof. These certainly aren’t insignificant numbers, and go to show that a metal roof is a worthy investment if you are planning on selling your home.
Other Factors That Can Alter How Your Roof Affects Your Home Value
While installing a new metal roof often provides a great ROI, can lower your homeowner’s insurance, and boosts your energy efficiency and curb appeal, there are of course other factors that determine your home value. Among them are your location, buyer opinion, and the aesthetics of your metal roof.
Unsurprisingly, depending on the real estate market you reside in, a durable metal roof can add value to your home in multiple ways. Depending on prevailing buyer opinions and the general state of the market when you choose to sell, an appraisal could value a new roof differently, metal or otherwise. As mentioned above, metal roofs tend to add extraordinary value in the eastern half of the US. Local buyer demands and interests of buyers can vary, as well. Thus, in some locations, metal roofs could add greater value to a home than in others.
Install a New Metal Roof to Increase the Value of Your Home
A metal roof can provide homeowners with an excellent ROI when it is time to sell. Not only are metal roofs highly energy efficient and able to save you money on heating and cooling costs, but they are incredibly durable, lowering repair and replacement costs and potentially even reducing your insurance premiums. Each of these benefits provides a significant upside in a potential buyer’s eyes. When you factor in the eye-catching curb appeal presented by a metal roof, it’s easy to see how making the decision to add a new metal roof can up your home’s value. For that reason, if you’re hoping to increase the value of your home, installing a metal roof could be one of the best decisions you can make.