If you’ve been thinking about having a new roof installed on your North Carolina or South Carolina home, there are a number of things to consider, including whether or not it is actually the best investment for you at this time. Here, we will take a look at how much value a new roof is actually likely to add to your home.
Before you continue reading, it is important to bear in mind that new roofs are sometimes necessary, rather than optional. If, for example, your home recently sustained serious storm damage, you shouldn’t risk the potential structural damage to your house by debating whether or not you need a new roof — to protect your home, you do. Furthermore, your homeowners insurance is likely to pay for it.
If, however, you simply want a new roof because you’re tired of yours and would like an upgrade, considering the return on investment is extremely important. This is particularly true if you intend to list your residence anytime in the near future.
How do I know if a roof replacement is a necessity?
As previously stated, Carolina homeowners sometimes find themselves in situations in which roof replacements are absolutely necessary. If, however, your roof is simply aging and hasn’t been damaged in a recent hail storm or hurricane, it can be difficult to know if a replacement is actually required. Keep your eyes peeled for the following red flags:
-Granules with a sand-like consistency in your gutter troughs.
-Mold growing on the edge of your shingles, generally visible from the ground.
-Shingles with cracks or dents
-Sagging areas or areas that appear to be aging faster than others
-Interior problems like water stains on ceilings and walls, or new leaks that didn’t previously exist
What type of return on investment can I expect from a roof?
Different roofing materials, of course, offer a different return on investment. Slate roof tiles, for instance, can last as long as a century, and are typically very expensive. However, the ROI for this material is nearly 100% as a result of its longevity.
More conventional roofing materials, though, like ever-popular asphalt shingles generally have an ROI around 60%. Furthermore, new roofs may raise the overall value of your home from $10,000 to $15,000 depending on where you live, how new the roof is when you list your home, and other mitigating factors.
How much does a new roof cost?
Again, the overall cost of your new roof will depend on which material you choose for your renovation project. Slate, for example, usually costs about $1,500 for every 10 foot x 10 foot section of roof. This can quickly add up.
Asphalt shingles, however, usually cost between $2.50 and $4.00 per square foot, with high-end architectural asphalt shingles falling at the top end of the price range. The average cost for a new roof in the United States is about $7,500. This may, of course, be slightly less or slightly more in your region of the Carolinas depending on how rural or urban it is.
If you’re ready for your new roof, contact the experts at Hatch Home for details about all of our exterior remodeling services.