Buying a new roof for your house is one of the best ways to increase its value. When you compare the cost of a new roof installation with the benefits, it becomes clear that this is an excellent way to add value to your home.
One rule of thumb when trying to determine how much money you can add to a home’s value by spending on improvements like appliances and fixtures in kitchens and baths, landscaping and exterior upgrades such as fencing or decks is that they typically add half their costs back in equity if you sell the house soon after making them.
Of course, that also means there’s a risk because if you hang onto your home longer than expected, those improvements will be worth much less when it comes time to sell (most homeowners try to recoup at least 90% of what they initially put into a property in the sale).
A new roof typically adds 14% of its cost back in equity when you sell your house if it is done soon after buying the property. If you keep the house long enough to pay off the home loan, that percentage drops down to around 8%. Not all homes are eligible for a new roof, but those that are definitely will benefit from it being added to their property.
Here we look at how a new roof adds value to your house.
A new roof will last from 12 to 20 years, depending on the materials used. A longer-lasting roof means you won’t have to worry about repairs for a long time, and if you do need to fix it, it’s best to use the same material as your roof is made of so it matches perfectly. That means another investment opportunity if you repair instead of replacing your roofing since your house is expected to retain its new look for quite some time after the renovation.
Roofs designed with environmentally conscious materials allow more light while still protecting you from outside elements like heat or cold air that could seep into your home without proper insulation. That can save money on bills by not having to turn up the air conditioning or heating system to compensate for cold or warm weather coming in through your old roof.
A new roof can be worth around 14% of what you initially put into installing it, so if you spend $10,000 on a new roof, expect to get back $1,400 when you sell your home. You won’t see this amount completely added onto your final selling price but showing potential buyers that you made an investment in improving your property is usually enough to encourage them to make an offer that’s closer to the asking price than they would otherwise.
Before putting up the For Sale sign in front of your house, take time scouring through online reviews and testimonials about roofing companies in your area. Your goal is to find one with an excellent reputation so you can convince buyers that your home was built or renovated by a contractor who’s done similar jobs before and has the skills needed to ensure they don’t deal with expensive repairs within the first few years of owning the property.
Better curb appeal
A new roof is usually accompanied by renovations like replacing shingles, adding drainage systems, and waterproof materials topped by fresh layers of ceramic tiles that make your house look better not just from inside but also outside (if it’s visible). That increases its overall value since people are likely to put in higher offers for homes that look well-maintained rather than neglected.
Before signing off on the work, always make sure the roofing company you’ve chosen offers a warranty for their services. That gives you some peace of mind in case something goes wrong with the new roof within a certain time frame after installation.
One of the main reasons people invest in new roofs is because they offer protection against weather conditions that can damage a home over time. Heavy rains, snowstorms, and wind can all take their toll on shingles, tiles, and other roofing materials, so it’s important to have one that can withstand everything nature throws at it.
Putting a new roof on your house is a big decision that comes with a lot of benefits. Not only will it increase the value of your property, but it’ll also make it more durable, energy-efficient, and appealing to potential buyers. So if you’re in the market for a new roof, be sure to do your research and find a roofer (https://hubbardexteriors.com/) that can offer you a quality product backed by a solid warranty.