Metal Roof Value Appraisal

So really a new roof may restore value but not add value.

Metal roof value appraisal.

894 views answer requested by. A contemporary metal roof on a home can improve that home s resale value by 1 to 6 percent when compared with an asphalt shingled home. On a 200 000 home the deferred maintenance adds up quickly to 20 000. While it is impossible to ever predict the exact amount of value that a new roof will add to a home the benefits of a metal roof are things that are sought after by prospective home buyers.

If you install a metal roof you ll pay 38 600 and may get a 23 507 boost to home value. For a standing seam metal roof of the same size you ll pay about 23 000 to 30 000. More specifically installing steel shingles on a 2 000 square foot roof costs about 15 000 to 25 000 modernize says. According to mack strickland an appraiser in chester virginia a home that demonstrates a lack of preventative maintenance can lose 10 percent of its value.

Low quality metal roofing or metal roofing that detracts from the curb appeal of a home can have a less positive impact on property value or even reduce the worth of the home. Once the roof fails to protect a home from water damage repair costs can mount to include interior damage. Additionally you ll recoup an average of 85 9 percent of. In the end you re spending more money on a metal roof but getting less of your investment back.

So if a metal roof costs say 5k more than a 40 yr class 4 shingle roof then its maximum contribution to the home value is going to be about 5k diminished by age and condition. Appraising the condition of the roof is usually a lender. In 2016 the survey found that roofing replacement added an average resale value of 14 214 throughout the nation. As long as the metal roof has greater longevity than traditional asphalt shingles and has a pleasant visual appeal there will be a boost to the home s value.

The national average cost of a metal roof is about 16 500 according to the mra. During a roof appraisal both parts are inspected for structural integrity and to estimate how many years the roof is likely to last. Again though a home sells for what a buyer and a seller agree upon. Homeowners who install new roofs can expect to recover an average of 68 8 percent of the costs of installation a better return on investment than a master suite addition major kitchen remodel deck addition and bathroom remodel.

Reality is the contribution to value is going to be something less than the additional purchase cost. It becomes a natural conclusion therefore that homes with the benefits of metal roofing will sell faster and for higher value. While a metal roof can increase the value of a home not all metal roofs are created equal.