Homes with strong curb appeal sell quickly and command top dollar.
That’s why cable television is flooded with home improvement shows focused on curb appeal. TV hosts offer recommendations for renovations that, theoretically, will score big returns on investments for sellers. Hosts guide beautiful transformations of kitchens with granite countertops, stainless steel appliances, tile backsplashes and upgraded fixtures. Bathroom renovations focus on tiled showers, luxury vanities and bright lighting. With a bigger budget, skilled interior designers can carve out another bedroom, perhaps with its own en-suite bath.
Where those would-be sellers should spend their money, though, is outside – specifically the roof. A shingle or metal roof replacement, it turns out, offers a better return on investment than bathroom, kitchen or bedroom renovations, according to Remodeling Magazine’s 2023 Cost vs. Value Report.
Roof replacement is one of many possible projects that potential sellers should explore to enhance curb appeal of their home.
LEARN MORE: Why choose Lloyd Roofing?
Curb Appeal: Aesthetics
You never have a second chance to make a first impression. In today’s real estate market, that first impression usually occurs online. The first picture in a home’s MLS listing must be enticing to generate interest.
Popular home improvement shows like Property Brothers, Flip or Flop, Love It or List It, Fixer Upper, Celebrity IOU and others fixate on renovations that enhance curb appeal and protect value. Moving.com notes the following:
“Curb appeal refers to the exterior design and features of your home. Think of it like your home’s first impression, with the exterior giving potential buyers (or even just people who are walking through your neighborhood) a sneak peek at the quality of home that they might be able to find inside.”
Moving.com’s examples of curb appeal projects include landscaping, lighting, paint and the front door. Within its list is “quality of your roof.” Yes, a good roof – tile, metal or shingle – draws admiration from prospective buyers. A roof in need of repair or replacement, though, will turn off potential buyers.
READ MORE: Residential Roofing Services
Cost vs. Value of a New Roof
Roof costs vary by region, material type, square footage, architectural design, labor costs and other factors. Remodeling Magazine surveyed more than 6,000 Realtors to compile the data, including agents in two markets that Lloyd Roofing serves: Fort Myers and Tallahassee (Orlando was not included in the survey).
The data looks at what it costs to complete a roof replacement and the potential return on investment. Very few home improvement projects will reach 100% cost recoupment. They do help sell a home quickly, though, as well as entice multiple offers.
Below is a data breakdown in the 2023 Cost vs. Value Report:
Asphalt Shingle Roof Replacement:
- Fort Myers Region: 76.4% cost recouped
- Tallahassee Region: 74.4% cost recouped
- South Atlantic Region: 64.1% cost recouped
- National Average: 61.1% cost recouped
Metal Roof Replacement:
- Fort Myers Region: 56.6% cost recouped
- Tallahassee Region: 48.9% cost recouped
- South Atlantic Region: 51.0% cost recouped
- National Average: 48.9% cost recouped
The publication did not include tile roof replacements, which are common in Florida but not as prevalent across the U.S.
The Fort Myers and Tallahassee markets are noteworthy because both regions have been impacted repeatedly by hurricanes and tropical storms. Survey results show real estate agents and buyers place a higher value on a good roof in those regions.
How do cost recoupment numbers for roofs compare to other remodeling projects? The survey noted the following as national averages:
- Upscale bathroom addition: 26.6% cost recouped
- Update bathroom remodel: 36.7% cost recouped
- Upscale major kitchen remodel: 31.7% cost recouped
- Upscale master suite addition: 22.7% cost recouped
SUMMARY: Both shingle and metal roof replacements enhance curb appeal and resale value.
Considering a roof replacement before selling your home? Contact Lloyd Roofing for an initial consultation.
