Does Having A Metal Roof Increase The Value Of Your Home?
Many people talk about the value of their homes and improvements they can make to increase their value. Generally, getting a new kitchen, bathroom, windows or adding an extra bedroom do increase your house value.
When it comes to replacing your roof, it can be a costly project. Therefore, the question: “does having a metal roof increase the value of my home?” is a very common question that people ask before making a decision to replace a roof.
A new metal roof can provide a great return on investment for you in three ways:
1. It improves energy efficiency and reduces your insurance premium
2. It is maintenance free and does not require frequent replacement
3. It increases the value of your home and curb appeal
So, before you jump in and install a new roof you want to be sure that the investment you are about to make will give you a high return. Let us consider then important ‘return on investment’ questions.
Will a new metal roof increase the value of my home?
The simple straight forward answer is yes, it will! Using the 2019 Cost Versus Value report, it was estimated that with the cost of new roof installation, you would immediately get 70% of that cost added to the value of your home.
This was particularly apparent for higher-end roofing, which would enjoy a higher payback. It is not quite as simple as this, though, as there are other factors to consider.
Metal tile roofing system that AMT Metal Roofing offers to its customers in Canada is a high-end roofing material, with which you can expect a good return on investment.
Real estate markets
Your local real estate market will also play a part in how much value a potential buyer will attach to a new roof.
For example, if a home has a new roof, and the potential buyer appreciates this, then this will naturally add value.
If your roof looks fairly ordinary or it is old and in need of replacement, it will impact on your selling price.
If you really want to appreciate the value a roof can add, drive through expensive neighbourhoods in your area and consider the roofing on those houses. You will see a mixture of Cedar Shakes, Composite Materials, Clay and Metal Tiles, and these roofs scream a higher value at you; they make the property look expensive from the outset.
If you take metal tiles as an example, they are a great way to enhance the look of your home and will give a high value impression to a buyer.
Maintenance and Replacement Costs
Having to repair or maintain your roof can be expensive. The cost of roofing seems to double in price every 15 years or so. Most traditional roofing materials have what has been distinguished as two life aspects to them.
They have an Aesthetic life and Functional life.
The Functional life of most installed roofs is around seventeen years, whereas the aesthetic life is closer to seven years.
That is because over that short time the weather will take its toll on the roof material, and it will start to deteriorate and look old.
Once a roof starts to look old, it will still give you protection from the elements, but it will have an impact on the overall look of the house, particularly for a potential buyer.
Those of you that have sold a house in the past will know that buyers will hire home inspectors, who will inspect the roof and pick it apart, particularly if the roof is looking old and tired. They will then proceed to tell you it needs a new roof and look for a discount on your selling price.
The installation of a metal roof will get over these potential hurdles of ensuring you get the right price for your home.
Being long-lasting and durable, a metal roof will give you that ‘new look,’ and enhance the value of your home considerably.
In today’s real estate market, the energy efficiency of a home is becoming more and more an important selling factor.
As gas and hydro prices increase, more prospective buyers are looking for a home that will cut these costs.
A home that is energy efficient tends to attract a higher price, and they also sell faster.
A metal roof can add to energy efficiency in several ways. First of all, ridge ventilation used in metal tile roofing system allows for an enhanced attic ventilation. Second, metal roofs will outperform most other roof types when it comes to heat reflectivity.
The installation of a metal roof will also easily allow for thermal breaks to be installed. A thermal break is the dead air space between two materials for the purpose of acting as a sort of ‘bridge’ between the two. With metal roof, the thermal break can be between metal and roof deck by the way of strapping it.
An additional advantage of a metal roof comes if you are thinking to install solar panels. You can make a metal roof ready for solar panel installation, which will also add value to your home value.
Metal Roof Adds Value, Efficiency, and Curb Appeal
If you are considering a roof change, then there are many benefits from adding a metal roof.
Your home will become more efficient and roof will be durable and maintenance free. With metal roof being fire resistant, hail resistant and wind resistant, you can expect reduction in your insurance premium and higher resale value. Furthermore, an aesthetic appeal a metal roof adds to your home will make it more attractive to potential buyers.