Replacing your roofing system is not an easy task, and significant home renovations projects like roof replacements can cost quite a bit of money. However, replacing a roof that has fallen into disrepair is vital to the health and safety of you and your family. When reselling your home, a newly installed rooftop can ultimately determine your home’s resale value.
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. These include kitchen renovations, bathroom remodeling, deck installations, bedroom extensions, and new roof installations. The magazine also conducted a survey to determine which remodeling project had the most significant investment return. It found that a new roof installation could recover 62.9% of the original cost once the house was resold.
According to statistics, a new roof installation will likely increase the resale value of your home by up to $12 000. This, therefore, concludes that when considering all home renovations and remodeling projects, a new roof installation adds the highest value to your home’s resale value.
How A New Roof Affects The Value Of Your Home
A new roof adds tremendously to your home’s curb appeal, improves your warranties, and lowers your utility bills compared to an older roof. Homeowners often forget that your roof is an effective 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, the chances are that your new roof will be better at keeping your home cool in the summer and warm in winter.
When you’re ready to sell your home, one of the first steps in the resell process is inspections and engagement with real estate agents. If inspectors find that your roof is in disrepair, some buyers could consider it an “eyesore.” This may potentially lower its resale value, which is not something that any home seller wants.
Roofing Cost vs. Value
On average, a new roof installation can cost you about $7500; this increases and decreases based on the materials used and 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.
The best way to guarantee that you get the most out of your rooftop is to conduct regular inspections and tend to any roofing issues as soon as possible.
Looking for professional residential roofing solutions, give Texas Select Construction a call today.