How Reroofing Your Home Increases Its Value
4 min read
Planning to list your home/ it is a good idea to give it a new roof. Even seasoned real estate agents can tell you that potential buyers appreciate a new roof. It portrays that the buyer is not likely to invest in reroofing the home after purchase. Most buyers fear the enormous expense of reroofing a home they just purchased. Others might use the old roof to ask for a price reduction.
The truth is, an old roof will decrease the value of your home. So, replacing it is worth the investment. Before undertaking the project, you have to mind things like prevailing conditions in the real estate market, roof conditions, and buyer preferences. Giving your home a new roof will allow you to get the best return on your investment.
How a new roof increases home value
Boosts appraisal value
Before buying a home, savvy buyers and mortgage lenders hire appraisers to determine whether it’s worth the price tag. To lenders, appraising allows determining that the borrower isn’t trying to borrow beyond the home’s market value. After the appraisal, the value determined is the one for mortgaging the property.
A remodeling impact report by the National Association of the Remodeling Industry discovered that a new roof offers about 109 percent return on investment. This means that you make a profit when you invest in reroofing your home. Improving curb appeal through ideas like reroofing significantly boosts appraisal value.
Proof of good maintenance
A roof in good condition is proof of good maintenance. Contacting one of the leading roofing companies in Sacramento to reroof your home shows that other fixtures are in order. Potential buyers will see the roof in excellent condition and assume that other fixtures like plumbing are free from any issues.
Worrying about maintenance issues is a big concern for any potential buyers. Listing a property with a new roof will make your home more attractive to potential buyers. This is very important since most potential buyers are reluctant to put in money and effort to undertake significant repairs immediately after buying a home.
Matching the neighborhood
Is your home the only one with traditional shingles? It is a great idea to undertake a reroofing project to make your property match the neighborhood. You are less likely to get good value if your neighbors have modern flooring materials. Investment in high-end shingles if your home is in an upscale community is inevitable.
Meeting the needs of the market.
Styles come and go. So, do roofing materials. Homeowners have to stay up-to-date on trending home designs, including roofing materials. Apart from keeping up with interior design styles and themes, options for roofing materials have evolved too. Thanks to improvements in technology and innovation.
When planning to sell your home, you have to know the latest trends in the roofing industry . Getting ahead of the game will give you bragging rights among peers. The new roofing trends will give your home more value and attract more potential buyers when listed.
Matching a renovation project
Homebuyers want a well-maintained home. These judge a home by its appearance on the exterior. A nice-looking home with a new roof reflects the investment and energy you put into maintaining the home. This is true since the roof takes up about 40 percent of the home’s visual space on the outside.
So, it plays a significant part in your home’s overall curb appeal. Choosing designer shingles for your home’s reroofing makes a substantial difference in how prospective buyers see your property. The new shingles should match the design and style of other materials in the renovation project.
Passing roof certifications
Obtaining roofing certifications assures a buyer about the roof’s performance in a given period. Other roofing certifications might include a guarantee. According to the National Roof Certification and Inspection Association, professional roof inspectors have the skills to certify the performance of a roof. So, home buyers trust them more than home inspectors.
Homebuyers are less likely to remain interested in a home with an old roof. A roof certification is mandatory when planning to use a Veteran’s Affairs or Federal Housing Administration loan to purchase a property. You’re likely to lose offers when the certification discovers that the roof on your home won’t last.
Impressing insurance companies
When you invest in a new roof for your home, it impresses insurance companies. You’re likely to get a lower insurance rate when your home has a new quality roof. This is because a new roof offers protection in extreme weather. Potential homebuyers are more likely to get interested in a home with a lower insurance premium. You can bank on this to get a reasonable price for your home.
There are various benefits to investing in reroofing your home. Whether you want to match your neighbors or impress home buyers, a new roof will not disappoint. A quality roof will add value and curb appeal to your home.
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