Upgrading to a Metal Roof in a Declining Economy... Really?

Thoughts from Chris...

Being involved with selling metal roofs for decades now, and observing all the while the trends in real estate and architectural products, it’s quite fascinating to me that during this time that real estate values are leveling off or declining in many markets, the demand for metal roof products is growing noticeably. On the surface, this seems like a paradox: why would a premium, more expensive type of material enjoy increased demand in a housing downturn? There is some logic to the occurrence, and since this is the 3^rd cycle of this kind I’ve personally witnessed, I am confident that I understand at least some of the explanation.

When housing is in a rapidly inflating state, I think many homeowners stop thinking of their residence as their “home” and rather entertain thoughts of it as a stepping stone on the way to their “ultimate” address. The gypsy theme seems to pervade conversations of houses and a large percentage of homeowners get caught in the, “we’ll sell this place, make a big profit, and buy the home we really want!” mentality. Even conversations about improvements seem to always include a “return on investment” caveat so that the questions cease being, “What is the best improvement of this type we can afford?” and instead become, “What improvements of any type will have the greatest effect on re-sale value?” In hot real estate markets, the local realtor becomes the expert on renovation choices – even if they’ve never lifted a hammer in their lives! Everyone’s playing, “Flip This House!”

Certainly this is true for roof products as well. If the roof you’re contemplating only has to have an immediate “return on investment” then all other considerations – life expectancy, life-cycle costs, maintenance, fire resistance, seismic safety, etc, etc. – become secondary to the immediate resale value. All of the homeowners caught up in the transient theme of the hot housing markets begin to see big-ticket items for their home, like a new roof, from the same perspective as a tract builder, “After a few, short years none of these details will matter to me – someone else will be living with them!”

People who begin to see their house as a home, for some time to come, as is the case when prices are not rising rapidly, tend to use differing decisions regarding their choices. The thought that “We might well be here in 10, 15, or more years,” adds a new element to the mix. All of a sudden, homeowners begin to worry about qualities in roof products that seem insignificant when “It’ll be someone else’s problem!” Now it may well be OUR problem if we choose an inferior product. Now quality becomes a more significant consideration that short-term resale value. I’ve repeated many times to homeowners in process of choosing a new roof for their home the observation that almost EVERY possible choice will look nice and shiny and new for a short time – it’s the long-term where quality shines. The extra investment in a premium roof, like metal, pays dividends in value for years and years into the future.

When houses become homes, premium upgrades like metal roofs come back into vogue. Makes sense to me!