Does a New Roof Increase the Value of Your Home?
October 20, 2014 at 11:30 AM
The decision to replace your roof can be a scary one. It’s expensive and more than you would want to spend, but think of it as an investment for the future.
A new roof can increase the value of your home on the market by approximately $12,000. In many markets, that is 15-40 percent increase on the value of the property. Not replacing your roof when necessary could have more financial consequences like mold, mildew and ruined walls which will be cause to replace the sheet rock.
Most home buyers will run the other way when they are shown a house that needs a new roof, or major roof repairs, as soon as possible. They know they will eventually be responsible of this cost. Old roofs also can create higher costs for electric and heating because they are not as energy efficient as newer roofs.
This valuable piece of advice only works when the roof is in dire need of replacement. You don’t need to replace a relatively new roof (within the last, say, ten years). Replacing a roof that is old and/or leaking, when you’re going to sell in the near future stops your home from losing value.
Most buyers will either low ball an offer on a house that needs multiple upgrades or they will pass and your home will be on the market longer than it needs to be.
Remember: your roof is one of the most important components of your home. You will live under your roof for many years, so it is important to make informed decisions when it comes to roofing replacements.
For more information on the roofing services H & S Roofing and Gutters provides for the Charlotte, NC and surrounding areas, visit our website today or give us a call at (704) 334-9934.