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 important for the safety of your home and your family. If you intend on reselling your home, a newly installed roof can have a major impact on 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 that aimed to determine which remodeling project had the greatest investment return, and it found that a new roof installation was able to 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 greatest 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, it improves your warranties and it also lower’s your utility bills, in comparison to an older roof. Homeowners often forget that your roof is a major 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, 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 roof 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, as well as 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 inspections and tend to roof repairs as soon as possible.
Looking for professional residential roofing solutions, give Dynasty Building Solutions a call today.