What is the Resale Value of a Metal Roof?
Smart money management involves making an investment and getting a reasonable return on that investment. In life, most of us are often careful with our “big purchase.” For example, when we buy a car, we will evaluate its model, mileage, and other factors to ensure that we get the most out of our investment. The same philosophy applies to home improvement projects, and more specifically, your roof. If you are planning to spend thousands of dollars on roof replacement, you’d better pay attention to the material you are about to choose.
The truth is most roofing materials like asphalt shingles and slates rarely survive beyond 25 years. According to Home Advisor, this means that your will be spending approximately thousands of dollars every two decades to replace an average-sized roof, and more if your home is slightly bigger. This, of course, does not include the money you paid on repairing and maintaining your shingle roof. When you combine all these factors, you are in for a loss on investment, especially when the average resale value of a roof is around $12,000.
Protecting Your Investment with Metal Roof
Unlike other roofing materials that begin to lose charm and efficiency passing their 10th year of service, metal roofs can live up to 50 years with minimal to zero maintenance. This is because metal roofs do not suffer thermal expansion and contraction. Consequently, they do not crack, chip, break, or become loose over time. Because metal roofs are naturally durable and installed with secured fasteners, they have high uplift resistance and can withstand wind gusts up to 140 miles per hour.
The Resale Value of Metal Roof
The fact that most metal roofs come with a 50-year limited warranty should give you peace of mind in your investment. When it comes to costs, a metal roof, according to the Metal Roofing Alliance can cost roughly two to three times more than an asphalt shingle roof. “However, a metal roof is comparable in price to tile roofing or cedar shake roofing. If you currently have a slate roof, you can expect metal roof to cost less.” Additionally, your metal roof can save you up to 40% on your annual cooling costs. You do not need to spend more money, time, and energy in maintaining your roof.
When the time comes to sell your home, metal roofs are loved for their durable design, customization flexibility, and energy efficiency. As a fire-retardant and termite resistant roofing solution, buyers are oftentimes willing to pay more for a metal roof than any other roofing alternatives. According to Angie’s List, a quality metal roof will increase the resale value of your home by 1% to 6% (and sometimes more). It moves on to add that “if two identical homes were for sale, and one of them had a metal roof, the home that would never need a new roof would sell for more money.”
Even if you do not plan to sell your home any time soon, getting a new metal roof also means that you will never need to re-roof again for the next five or more decades. While the return on investment for each metal roof varies, homeowners generally can recoup close to 86% on their metal roof investment, says Home Guide