Old Slate vs. New Shingles: Which has higher appraisal value?

Question

All,

I'm rehabbing a house that has a 100 year old slate roof. I'm trying to max my ARV  at Refi. Which appraises higher: old slate w/ some repairs, or brand new shingle roof?

Thanks!

Davis

Bruce Woodruff · Answer

Usually slate all day long, but with the age factor it's hard to say. I'd have a Roofing Contractor come out and give you a written opinion of it's condition/remaining life and value. You can give this to the appraiser.

Jerry V. · Answer

As Rebecca said, the 'old slate' is a blessing, but ... you may have to search "bone yards" for replacement pieces.  (a good local roofing contractor should understand this)

But Steve, shingles last 20-30years!?  LMAO  Not here in the South they don't!  Average is 15-20yrs usually, with light-good weather conditions.  The "marketing" bs/hype is just that... they used to call shingles "30yr warranty," now they say "limited lifetime" etc ... That ONLY implies, the manufacturers warranty against DEFECTS of their product.  Not longevity, wear/tear and so on ... Very misleading right!? lol

But as others have said, depends on what Evaluators say about it when they see/test it.  Keep in mind, most hard surface materials (slate, tile, metal...) really depends on the underlayment underneath them.  So that old slate may be in good shape, but ... at some points "most" of those roofs (not all) require you to remove the tiles, prep, install new underlayment or water barrier membrane, then re-install the tiles.  This is common in our industry but not all Roofing Companies are able to do this, or know how to!

It's a cost, but IF your keeping the tiles (IF you can do so, keep them!  if not, sell them!), factor those factors in when evaluating everything for the future.

Bruce Woodruff · Answer

Or longer!

Charles Clark · Answer

I am going to guess your average appraiser does not understand the value of slate, so they may prefer shingles, but a roof expert that can assess the state of the slate might give a better idea of where it is lifecycle wise. Good slate has been known to go well past 100 years.

Steven Goldman · Answer

@Davis H Son  David generally an appraiser will assess the durability of the materials with which the house is constructed in determining value. The appraiser will also take into account the agree of things like the roof. So a soft slate  roof has a useful life of 25-100 years. Shingles 20-30 years. So how old is your slate roof. If it past half of its useful life and showing serious signs of wear and tear than it is not much more valuable then shingles. I have found that when rehabbing a house if something is near the end of its useful life it is better to replace it than repair it. Ultimately buyers or renters are willing to pay more when they feel like they are getting something new or refreshed.

Brad S. · Answer

In my opinion, most appraisers may not know the difference in specific quality and durability, but if it is new, they would consider that in their condition assessment. I personally notice these things when I am doing an appraisal inspection, but I have heard many homeowners tell me that other appraisers spend very little time and don't ask them any questions about their property and my guess is they (the appraisers) don't recognize some quality differences.

I am sure that is not too helpful, but bottom line, it depends on the specific appraiser that gets assigned. For me, I like and appreciate the slate, but I  typically notice those things.

Rebecca E. · Answer

@Davis H Son

I have no idea but you can't replace the beauty of those old roof slate.  Consider contacting a historical society for help removing them, or to donate them if you remove.

Old Slate vs. New Shingles: Which has higher appraisal value?

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