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 a roof that is in disrepair is vital for your home and your family’s safety. If you intend to resell your home, a newly installed roof can significantly impact 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. Things such as 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 can increase your home’s resale value by nearly $12 000. This thus concluded that considering all home renovation and remodeling projects, a new roof adds the most significant value to a 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 and improves your warranties, and it also 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 reselling your home, your roof is often the first thing that home inspectors and realtors check for. If your roof is in disrepair, you risk your home being placed in the “fixer-upper” category, automatically lowering your home’s resale value.
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 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.
One guaranteed way to ensure that you get the most out of your roof is to conduct regular estimates and tend to roof repairs as soon as possible.
Looking for professional residential roofing solutions in Rochester, give roofing contractor in Rochester, Carter Roofing & Exteriors a call today.