Does A New Roof in Winnipeg Improve Your Home’s Value?

Posted on May 10, 2024 |

You’ve likely wondered if investing in a new roof will increase your home’s resale value. While curb appeal plays a role, a roof replacement provides financial returns beyond aesthetic upgrades.

Studies show replacing worn shingles with impact-resistant materials raises property value by over CAD 5,000.

Upfront costs are recouped when selling, and modern roofing enhances energy efficiency, lowering utility bills. This prevents heat loss through worn insulation.

Updated materials also reduce repair costs from wind damage. Evaluate regional rebate programs on top of added value.

A Winnipeg roof replacement not only beautifies your largest exterior feature but also saves you money monthly and secures a return at resale.

Keep reading to learn exactly how much a new roof increases value and additional financial benefits for Winnipeg homeowners.

An example of a damaged roof that needs replacement

How Much Value Does a New Roof Add to Your Home?

Increased Property Value

A new roof is one of the best investments you can make to increase your home’s resale value.

According to the Appraisal Institute of Canada, a new roof can increase a home’s value by 5% or more. A home valued at the median price in Winnipeg ($315,900 in 2020) translates into over $15,000 in added value.

Meanwhile, according to the National Association of Realtors, a new roof can increase your home’s value by up to 15-35%. A recent roof shows homebuyers that the home’s structural integrity and energy efficiency are solid.

Studies show that homeowners can recover 67-85% of the cost of a new roof when selling their home. A $10,000 roof replacement in Winnipeg means gaining $6,700-$8,500 in home value.

Lower Energy Bills

An aging or damaged roof reduces your home’s energy efficiency, costing you more to heat and cool. Heat and air conditioning escape through cracks, holes, and poor insulation, costing you money.

A new, properly installed roof can improve attic insulation and reduce air leaks, lowering your utility bills by up to 20% annually according to NRCan.

For a typical Winnipeg home, that’s a savings of $300-$500 per year.

Thus, new roofing materials like fiberglass have superior insulation and help regulate the temperature inside your home.

Extended Roof Life

The average asphalt shingle roof lasts 20-25 years in Winnipeg’s climate.

By replacing your roof at the end of its lifespan, you avoid leaks, water damage, and other costly repairs. You also get a new warranty and decades of peace of mind.

All Weather Exteriors provides lifetime warranties on all new roof installations.

Improved Curb Appeal

A fresh, attractive roof enhances your home’s curb appeal and makes a great first impression. This is especially important if you’re planning to sell soon.

A new roof signals to potential buyers that the home is well-maintained. It can also allow you to choose a roof color and style that complements your home’s exterior for maximum visual impact.

In summary, a new roof is a wise investment that can significantly boost your property value, lower bills, extend the life of your home, and enhance curb appeal. For Winnipeg homeowners, the financial benefits of a new roof far outweigh the initial cost.

Factors That Determine Winnipeg Roofing Cost and Home Value Increase

A new roof is one of the best investments you can make in your home. Studies show replacing an old or damaged roof can increase your home’s value by an average of CAD 21,000.

Why Does a New Roof Increase Home Value?

There are a few reasons why a new roof positively impacts your home’s value and appeal to buyers:

It extends the lifespan of your home’s roofing system by 20-30 years. Homebuyers prefer homes that won’t require expensive repairs or replacements for many years.
It improves the curb appeal and appearance of your home. An old, worn-out roof detracts from your home’s attractiveness and gives the impression it hasn’t been well-maintained.
It reduces energy costs by up to 20% according to the U.S. Department of Energy. A new, properly insulated roof helps control the internal temperature of your home better.
It may qualify for energy-efficient tax credits. If you install an Energy Star-certified roof, you may be eligible for federal tax incentives worth thousands.

Factors Impacting Roofing Cost

The cost to replace your roof depends on several factors:

Roof size and pitch. The larger and steeper your roof, the more it will cost to re-roof.
Roofing material. Asphalt or fiberglass shingles are affordable, while tile, metal, or slate are higher-end options.
Number of layers. Removing multiple layers of old shingles adds to the cost.
Accessibility. Roofs that are difficult to access, with many angles or obstructions like chimneys, cost more.
Location. Roofing costs tend to be higher in areas where the cost of living is higher.
Additional features. Adding skylights, ventilators or other features will increase the total roof replacement cost.

In summary, while the initial investment in a new roof may seem expensive, the long-term benefits to your home’s value, energy efficiency, and durability make it well worth the cost. A new roof truly is the crown of your castle!

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3 Additional Advantages when Installing a New Roof in Winnipeg

Improved Structural Integrity

A failing roof can become a major structural liability for your home.

Worn shingles or weak decking allow water to seep in, leading to rot and decay of the underlying support structures like trusses and rafters.

This weakens the entire roof system, compromising its ability to withstand wind, snow, and other external pressures. In severe cases, a compromised roof can even lead to partial collapse, causing extensive damage to your home’s interior and potentially creating a safety hazard.

Investing in a new roof ensures these crucial structural components remain protected, safeguarding the overall stability and longevity of your home.

Enhanced Protection

A new roof protects your home’s structure, foundation, walls, and everything inside. As roofs age, they become more susceptible to leaks, mold, and water damage which can compromise the materials underneath. With strong, impact-resistant materials like asphalt or metal, a new roof safeguards your home for decades and provides security from the elements.

Peace of Mind

Knowing your home and everything in it is fully protected from the weather gives homeowners priceless peace of mind. You won’t have to worry about leaks damaging irreplaceable items or marring your walls and ceilings. A reputable roofing company will also provide a warranty on parts and labor for your new roof, usually 20-50 years for premium materials. This gives you confidence in your roof’s performance and quality for years to come.

In summary, a new roof is an investment that provides financial, practical, and intangible benefits for your home. While the upfront cost may seem high, the long-term value and security it provides to your most valuable asset make it worth the investment. With the right roof and installation, you’ll gain comfort, protection, and stability for your home well into the future.

Frequently Asked Questions About New Roofs and Home Value

Will a new roof increase my home value?

According to several studies, a new roof can increase your home value by up to 15% on average. A report by Remodeling Magazine found that replacing an aging roof with a new asphalt shingle roof recoups about 64% of the project cost at resale. For a $10,000 roof, that’s a potential increase of $6,400 in your home value.

How much can a roof replacement increase my home’s value?

The exact value increase depends on several factors, including:
Your home’s location and current market conditions. In a seller’s market with high demand, a new roof may increase value more. In a buyer’s market, the increase may be more modest.
The condition and type of your current roof. Replacing a leaking, damaged roof will typically boost value more than replacing an older roof in fair condition. An upgraded roof type, like metal or slate, may also increase the value more than basic asphalt shingles.
The quality and warranty of the new roof. A premium, long-lasting roof with a solid warranty will usually increase value more than a budget roof. Home buyers will pay more for the peace of mind of a durable, warrantied roof.
The curb appeal of the new roof. An attractive, eye-catching roof like cedar shake or clay tile may boost value for its aesthetic appeal and the architectural style it enhances.

In Winnipeg, you can expect a new asphalt shingle roof to increase your home value by 10-15% on average, or $5,000 to $15,000 for a house valued around $300,000 to $500,000.

A higher-end roof type may boost value from $10,000 to $30,000 or more. The value increase also depends on matching your neighborhood’s roof types and styles.

A new roof is one of the best investments you can make in your home. Not only will it make your home more valuable and appealing to buyers, but it will also save you money in the long run through lower energy bills, reduced repair costs, and a longer roof lifespan.

All Weather Exteriors can help determine how much value a new roof can add to your home based on the latest data for your area.

Contact Us for a Free Winnipeg Roof Inspection and Estimate

According to the National Association of Realtors, replacing your roof can increase your home’s value by an average of CAD 15,000. Studies show that homebuyers are willing to pay more for a house with a new roof versus one needing replacement in the near future. A new roof provides peace of mind that there won’t be any surprise leaks or repairs needed for years to come.

Protect Your Home’s Structure and Foundation

Your roof shields your home from rain, snow, and ice damage. An old or failing roof allows water to seep in, which can lead to water damage, mold growth, and structural issues.

A new roof properly installed by certified roofers helps ensure maximum protection for your home’s foundation and everything inside.

Save on Energy Costs

If your current roof is outdated, it’s likely not very energy efficient. New roofing materials like asphalt and fiberglass shingles, metal panels, and synthetic slate are designed to reflect more of the sun’s rays, keeping attics and living spaces cooler in the summer.

According to the U.S. Department of Energy, upgrading to an energy-efficient roof can lower your cooling costs by up to 20% annually.

Increase Curb Appeal, Marketability, and Resale Value

A fresh, attractive roof is one of the most visible improvements you can make to your home’s exterior. Replacing a worn-out or outdated roof with an eye-catching new style and color scheme is an easy way to boost your home’s curb appeal and resale value.

Studies show that the look and condition of a home’s roof significantly impact a buyer’s first impression and willingness to purchase.

To find out how a new roof from All Weather Exteriors can benefit your home and wallet, contact us today for a free roof inspection and estimate.

Our certified roofers will evaluate your current roof, provide recommendations for the best replacement option for your needs and budget, and provide a competitive quote to get your roof replacement project started.

a roofer installing a new roof in winnipeg

Investing in a new roof has always been hassle-free with All Weather Exteriors

Ultimately, investing in a new roof for your Winnipeg home can pay off in the long run. Though the upfront costs may seem high, a new roof boosts your home’s curb appeal, energy efficiency, and resale value.

Industry experts estimate a new roof can increase your home’s value by 50-75% of the project cost. With attractive rebate programs and financing options available, a roof replacement is a smart investment.

Evaluate your roof carefully and consult reputable local roofing contractors to determine if the time is right. A new roof brings peace of mind and financial returns. Make the choice that protects your most valuable asset – your home.