Would a roof replacement make a significant difference in the overall value of your home? You are not the first homeowner to ponder this question.
Whether you are getting your home ready to list on the market or considering a better solution to the seemingly constant stream of roof repairs, the price of a roof replacement may be partially offset by the long-term investment you are making in your property.
Preparing to Sell
When you first decide to sell your home, you may feel overwhelmed by the long list of tasks designed to increase the property’s curb appeal and attract the right buyer at the right price. While you may be focusing on decluttering the interior and freshening up the landscaping, a new roof can add a final, commanding touch that sets your home apart.
Potential buyers automatically will be wary of homes missing roof shingles or that showcase algae growth. If the buyers are savvy, the roof may be one of the first home components they ask about. An aging roof is a consideration that will be on their minds if they make an offer, even if they love every other characteristic of your home.
Will it Pass Inspections?
Even if you accept an offer quickly without spending money on a roof replacement, the home inspector still has to sign off on the health of the home’s roofing system. He or she will conduct an in-depth interior examination of the attic, insulation and venting, and will look closely at the exterior shingling, flashing and drainage system.
The final report may reveal damage or wear that must be repaired, and you may be called upon to pay for those repairs before the sale will go through. If you suspect your current roof will fail the inspection stage, it might be wise to invest in a roof replacement now to avoid casting any doubts in the minds of your buyers.
Return on Investment
Overall, a roof replacement’s value will not completely recoup the money spent, but it will repay a significant portion. According to Remodeling magazine’s 2015 Cost vs. Value Report, roofing replacements offer a 71.6 percent return on investment as a national average. For the Mountain region, the return on investment is higher, at 72.8 percent. You may not be able to add the full value of a roofing replacement to your home’s selling price, but the fact that the project is complete may weigh in your favor when it comes to decision time for potential buyers.
Contact the Roof Doctor for a professional assessment of the state of your roof, and find out if it’s time for a residential roof replacement, especially if you are considering selling your home in the near future.