Replacing the roof of your home is no easy feat and major projects like a roof replacement can often bite a large chunk out of your savings. But replacing an old, unsafe, or leaky roof with one that will protect you from storms isn’t just smart for safety – it’s also great to help resell later.
Let’s take a look at how a new roof can increase the value of your home.
According to Remodeling Magazine, there are several home improvement and remodeling options that can increase your home’s resale value. Things such as kitchen renovations, bathroom remodeling, deck installations, bedroom extensions, and new roof installations. The magazine also conducted a survey that aimed to determine which remodeling project had the greatest investment return, and it found that a new roof installation was able to recover 62.9% of the original cost once the house was resold.
A new roof installation can increase your home’s resale value by nearly $12 000. This is because, according to statistics, it adds the greatest return on investment of all remodeling projects a homeowner might undertake in pursuit of improving their property.
How A New Roof Affects The Value Of Your Home
A new roof adds tremendously to your home’s curb appeal, it improves your warranties and it also lower’s your utility bills, in comparison to an older roof. Homeowners often forget that your roof is a major insulator. By installing a new roof, you’ll most likely be using new materials and technology than a roof that was installed 20 years ago. Due to technological developments over the years, chances are that your new roof will be better at keeping your home cool in the summer and warm in winter.
Your roof is the first thing home inspectors and realtors check for when reselling your home. If you don’t want to risk your home falling into the fixer-upper house, and thus getting less money out for your home, make sure it’s in pristine condition.
Roofing Cost vs. Value
On average, a new roof installation can cost you about $7500; this obviously increases and decreases based on the materials used, as well as the quality of workmanship. An excellent roof installation can increase your home’s resale value by $12 000, thus increasing your returns by a few thousand dollars.
One way to make sure your roof is in the best condition possible, which will also save you money and heartache down the line, is by conducting regular inspections on it. Get any necessary repairs done promptly so that they don’t become more expensive or intricate as time goes on.
Looking for professional residential roofing solutions, give Prominent Construction Roofing a call today.