Re-Roofing Pays Off!
The recently-released 2016 Cost vs. Value Study from Remodeling magazine shows that replacing a roof is a smart investment for a homeowner.
Results of the study indicate that 71.7% of the cost of a re-roofing project can be recouped at the time of selling the home — and that's up from last year's figures. Out of the 27 home improvement projects covered in the study, only a dozen (including roofing!) showed an increase in ROI over the previous year.
This isn't a fluke.
In 2015 nearly 2,200 National Association of Realtors members participated in the Remodeling Impact Study pertaining to exterior remodels. The highest percentage of investment recovered in exterior jobs were new roofing, new garage door, new vinyl siding and new vinyl windows. New roofing lists a 105% value recovery for a project (yes, it's #1) for homeowners.
Exterior projects with the highest Joy Scores (an indicator of how happy homeowners are with a remodeling project) were new fiber-cement siding, new fiberglass or steel front door, new roofing and new garage door. On a scale of 1 to 10, roofing had a 9.6 Joy Score.
The bottom line? A new roof can make you happy and satisfied with your home plus be a smart investment when it comes time to sell your house.