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What Factors Impact the ROI of a New Roof in Rochester?

Over five million new roofs are installed in the United States every year. At the same time, many homeowners struggle to make a decision on whether or not they should replace their existing roofs. To help them make an informed decision, it’s important to understand the impact of construction and return on investment (ROI). Below are some factors that impact your ROI.

New Materials

A new asphalt shingle roof can yield an ROI of about 62%. The cost of the materials can vary significantly between different kinds of products, with some types costing more than others. Selecting a higher-end shingle product, such as an architectural or designer style, could increase your ROI by even more. Consider working with a professional who can help you identify the best material for your needs and budget.

Extended Warranties

When purchasing a new roof it is important to consider extended warranties from the construction company and manufacturer. These warranties often provide coverage against defects that occur within the first few years after installation. In some cases, these extended warranties will transfer to a subsequent homeowner if you decide to sell your house. This is vital since, according to Home 365, a replacement roof can yield 85% or more ROI once a home is sold.

Installation Costs

The labor costs associated with construction work and installing a new roof can impact your ROI significantly. Prices vary based on the size and complexity of the roof, as well as geographic location. Be sure to compare prices before committing to a particular contractor or installer. It is also important to pay attention to any hidden fees that might be associated with installation. Consider shopping around for the best deal and be sure to get an in-depth quote before making a decision.

Maintenance

Proper maintenance of a new roof is essential for maximizing its life expectancy and ROI. Regularly inspect your roof for signs of damage such as missing shingles or water stains. Also, remove debris from gutters and downspouts, and clean off any algae growth that may have accumulated on the roof surface. These steps will help ensure you get years of use out of your new roof.

Energy Efficiency

A new roof can provide the additional benefit of increased energy efficiency in your home. Installing a reflective roofing material or applying a light-colored coating to your existing roof will reduce the amount of heat absorbed into your home, thus reducing cooling costs during the summer months. This can increase the ROI from your new roof. Consider your environment and the climate when selecting a roofing material to ensure you get the most energy efficiency for your money.

Tax Credits

In some cases, you may be eligible for a federal tax credit when installing a new roof. Check with your tax advisor to see if any of the materials used are covered under the energy efficiency tax credit program. Most states require newer homes to have solar or energy-efficient roofing systems in place.

Insurance Savings

In many cases, insurance companies require that your roof is in good condition before they will insure your house. Installing a new roof can help you get lower premiums from your insurer as well as save you money in the long run.

Total Home Resale Value

Of course, one of the most important factors to consider when investing in a new roof is its impact on your home’s resale value. A well-maintained, aesthetically pleasing roof can help you fetch top dollar when it comes time to list your house on the market. However, if your home, in general, is in need of repairs or updating, you may have to make those investments before replacing your roof.

By considering these factors, you can make an informed decision about your next roofing project and maximize your return on investment. With the right materials and proper maintenance, you can enjoy years of beauty and protection from your new roof.