When we think about value, we also have to consider the effect your current roof will have on the sale price. Pretend for a moment that you are the buyer: visibly cracked or damaged shingles means that project is going to have to happen sooner than later, and this could be indicative of the way the home has been cared for in general. Not only is a home with a high-quality roof more attractive to a prospective buyer, but it will also net a higher selling price and could even make or break a sale.
Value Report looked at similar updates homeowners invest in before selling, such as the installation of a backup generator, new garage door or a bathroom remodel, and in terms of ROI, a new asphalt roof consistently lands near the middle-top of this list (fun fact: installing new siding ranked even higher).
According to Remodeling Magazine’s 2019 Cost vs Value Report, the national average ROI for a new asphalt roof is 68%. This means that a $300,000 home with a new $10,000 roof would sell for, on average, about $306,800 plus the intrinsic value of attracting offers and convenience for the buyer. And in today’s crazy market, this definitely carries weight.