Getting a new roof can be used as a strong tool for marketing your property. If you are hoping to sell your home, you’ll find that most potential buyers would eye your newly installed roof like a great asset to the house. That means that they no longer have to do the re-roofing themselves.
Does that mean you can sell your property at a higher rate after putting in a new roof?
This isn’t exactly the case.
Let’s take a deeper look into the actual factors affecting home value.
How Your Roof Affects Home Value
The main purpose of a roof is to protect the interior of your home. Aside from that, it also provides insulation. The functionality of a roof is obvious. Aside from being a functional component of your home, a roof adds aesthetic value to the home’s architectural style. While there are many available options for a new roof, asphalt and wood shingles are some of the most common and best looking materials in the market. Having a new roof not only makes your house looks great, but it also assures the potential buyers that they won’t have to suffer through leaky ceilings and falling debris when they move in.
When you try to sell a home that has an obviously deteriorating roof, the future homeowners have to factor in the cost of repairs after they buy the property. This can be a hassle for most so even when you are offering the home at a decent cost, the old roof might scare away potential buyers because of the added cost of repairs.
On the other hand, as the current homeowner, you would also not be able to know exactly how much the new roof would add to your home’s real estate value as there are other factors to take into account.
Cost VS Value
Getting your roof replaced will cost quite a bit. Getting a professional roofing contractor to get the job done will assure you a good, solid, and great looking new roof. However, the actual cost would depend on the style that you are going for. To get an estimate on the actual cost and how long it would take to get a new roof on your property, 2nd2None Roofing and Construction has a team of experts ready to give you a fair cost estimate and project timeline.
If you’ve recently just had a new roof put in or have been able to maintain it well for the past years, you may not need a new roof to get a good deal on your property. If you find any of these on your home, however, you might want to look into getting a replacement roof before putting it on the market.
- Granules in the gutters.
- Mold growth on roof edges
- Broken or dented roof shingles
- Roof or ceiling sagging
- Clear holes in the attic where daylight can seep through
- Ceiling stains
- Ceiling leaks
Added Value: New Roof
A new roof is sure to increase your home’s resale value. In some cases, the value could go up to $12,000, and even $14,000 depending on the market. While you are likely to recover most of the costs of the roofing installation on your property when you make the sale, that would also depend on how much you actually spend on the reroofing.
Added Expense: New Roof
A new roof’s cost depends on many different factors. These include the size of the home, the type of materials to use, and the style of the roof itself. Aside from that, labor costs also vary. The best way to actually know how much new roofing installation will cost on your property is to get an estimate.
There are some markets where your new roof might not play as big a role as you anticipated. Depending on the general real estate market conditions, your new roof could add immensely to your home value or not factor in at all. If you are already planning to sell, getting advice fro your trusted real estate agent on the current conditions of the market could help you make a better-informed decision.
While you might not be able to get added value on the new roof that you had installed, the renovation would still be more likely to attract potential buyers. It could definitely be used as a major selling point if you are eager to get it off the market. Naturally, people are more likely to purchase a home with a new roof. Unfortunately, they might not always be ready to cash out more for the new roof.