The research that has been conducted on how much value a new roof will add to your home is somewhat diverse. One study finds that a new roof is a reasonable investment. Remodeling’s 2022 Cost vs.Value Report found that the average Polk County homeowner spends $19,945.00 on a new asphalt shingle roof of midrange quality. That new roof will increase the home’s value by $14,171.00, on average. That works out to be a 71% recouped cost on the investment.
Yet, another research has found that a new roof adds much more to the appraisal value. The National Association of the Remodeling Industry (NARI) released a remodeling impact report that found new roofs provide a 100 percent return, which means you could make a profit on your new roof.
Does a new metal roof increase home value?
What about non-shingle roofs? Metal roofs are often touted as a good way to boost home value, but research indicates they are not as cost-effective as laminate shingles.
The Remodeling Report for 2022 found that a metal roof, on average, cost Polk County homeowners $43,321.00 and increased home value by 66%. Compare this to their findings for asphalt shingle roofs, where the average homeowner spent $19,945.00 and got a return of 71%.
Not only is metal roofing, on average, more expensive than asphalt shingles, but metal roofs also add a lower percentage of their value to an appraisal. In the end, you’re spending more money on a metal roof, but getting less of your investment back. If you install a metal roof, you’ll pay $43,321.00 and may get a $28,579.00 boost to home value. Therefore, you will have paid $14,742.00 that you may not get back in home value. If you pay $19,945.00 for an asphalt shingle roof, you may get a $14,171.00 boost to home value. Therefore, you will have only paid $5,774.00, which you may not get back in home value. These numbers are only averages and are limited to Polk County Florida residents. You may get a full return on investment. Even if you don’t, asphalt shingles are a less-risky investment than a metal roof.
You should also consider how a homeowner will view a metal roof. Few homes have metal roofs, so they may seem unpredictable to homeowners who have never owned one before. As they are less common, homeowners may have too many questions about metal roofs to feel comfortable purchasing one.
As with other home improvements, if you want to maximize your investment, it is best to stick with familiar products in familiar styles that won’t raise the eyebrows of the typical home buyer.
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