Whether you’re thinking of listing your home this year, or a few years down the road, the overall value of your home is always a big concern. Obviously, you want to be able to sell your home for a nice profit, and that means adding equity. You’ve probably already boosted the value of your home since you’ve moved in, by upgrading the appliances, knocking out that wall for an open floor plan, and renovating the kitchen, but did you know that your roof is another improvement you can make to seriously boost the overall value of your home?
Though it might not be as sexy as a kitchen remodel, a new roof can add serious value to your home if you’re looking to sell. Here’s a breakdown of how a new roof boosts your home value:
The most concrete benefit of a new roof to your home is straight-up value. A home with a new roof will always go for more money than a home with a bad roof. Buyers will be willing to pay a bit more money for the house with quality construction, and a good roof they know they won’t have to fix in the future. One study has shown that for sellers, a roof replacement can provide 105% return on investment. That’s a definite profit, meaning that you’ll make back any money you spend repairing the roof when you close the sale and then some.
New roofs are considerably more energy efficient than older roofs. They’re better insulated, so they prevent heat from escaping in the winter, and deflect sun’s rays in the summer, keeping the house cooler. This provides more added value for a buyer, as they’ll have to pay less on those heating and cooling bills than they would on a home with an older roof.
The roof isn’t something that people usually look at and say “Wow, now that’s a nice roof.” But a bad roof is glaringly obvious. Though people don’t usually notice a great roof, they’ll definitely notice a bad roof, and it will seriously affect their opinion of the house. A nice new roof will blend in nicely with the rest of the exterior of your home, giving you a cohesive, beautiful image, even if people can’t identify that it’s the new roof that makes the home looks so nice. Replacing an older roof before you sell the home can add value just by boosting your curb appeal.
One more intangible benefit of replacing your roof is the saleability of your home. With a new roof, you’ll likely sell more quickly than with an older roof. This is because you won’t have to negotiate for the price of a new roof in the sale price and because some buyers won’t purchase an older home until the current owner has replaced the roof. With a new roof, you can expect a lot less hassle during the sales process, and you can also plan to spend less time on the market than a home with an older roof that could use replacement. That means less time that you’re paying your mortgage, the realtor, and anyone else who’s helping you list the home. Less time on the market means more money in your pocket.
In the end, if you’re planning on selling your home, and can’t decide whether you should replace the roof or not, it’s probably not a bad idea to just go for it. You’re almost guaranteed to get a better price for your home, and you’re also likely to sell your home more quickly. So, whether you’re planning on listing now, or a few years down the road, know that a new roof can increase your home value, and help you sell.
If you have more questions about replacing your roof, or if you’re interested in replacing your roof before you sell your home, feel free to reach out to the experts at Werner Roofing. A trusted, local roofer, we can give you a free roof replacement estimate, and help you decide if roof replacement is the right option for you. Give our office a call today at 616-844-5382!