While many remodeling projects are being put on hold due to the economy, some projects, like roofing material replacements, are offering great return on investment. Find out why composite shingles are one of the best values around.
New Roof Tops the Charts for Remodeling Value
It seems "down" is the word that sums up the status of remodeling projects in the U.S., according to the 2009-2010 Cost vs. Value report released by Remodeling magazine. In general, home owners simply aren't getting the return for their investment that they have been in recent years. Only a small handful of projects are actually bringing greater returns this year than last. Among these is roofing replacement.
According to the report, a new roof costs, on average, about $16,000, and homeowners can generally expect to get back around 66 percent of that at selling time.
Why Roofing Tops the List
A new roof is a wise investment right now for several reasons. First, projects that add curb appeal simply generate more interest among buyers right now. A new roof is truly the icing on the cake and can substantially change the look and perceived value of your home. Not only that, but it enhances your home's performance.
Why Composite Shingles?
Composite shingles, often called three-tab or asphalt shingles, are one of the least expensive roofing materials on the market, which is why it's found on roughly 80 percent of homes.
Found in several colors, composition shingles generally fall into two categories: organic and inorganic. The organic variety contain a base mat made of cellulose fibers, wood chips, and recycled cardboard, making them more resistant to tears and wind. Inorganic shingles have a fiberglass base mat, so they have superior fire resistance and strength.
Not only are composition shingles very durable, but they are generally backed by warranties of 20 to 30 years, and can be found for just $25-$30 per square, with premium architectural varieties running about $60 per square with a 40-year warranty. Compare this to wood or clay, which can run anywhere from $200-$500 per square.
The value of composition shingles, when you consider the return you're likely to get on your investment, is hard to overstate.