Increasing Your Home’s Value With A New Roof
Buying a home is one of the best investments that a person can make in their life. According to new statistics from Betterment, the average return on investment for a home in the United States is 10 percent. This can vary depending on the exact location. If you are looking to increase the value of your home, one of the best ways to do this is by adding a new roof to your home. Here are some of the main reasons why a new roof will increase the value of your home and encourage buyers to pay more.
#1 Peace of Mind
One of the main reasons why a new roof will help you get a higher offer for your home is that it provides home buyers with added peace of mind. Home buyers will feel a sense of relief knowing that the home they are looking to buy has a new roof. Typically, a roof will need to be replaced every ten years. Home buyers will feel secure knowing that they have about ten years or so to save for a new roof replacement.
Potential home buyers will also see a new roof as a sign that the current owners of the home took excellent care of the house. They will often see a new roof as a sign that the rest of the house was well kept. For instance, if a home buyer sees a home with missing shingles or leaks, they may assume that the house has mold or other issues that they cannot see. This would naturally decrease the overall value of the home and interest in the home.
#2 Improved Curb Appeal
A new roof is a great way to improve your curb appeal. Curb appeal is one of the main factors that influence a person’s desire to buy a home. A new roof will create an immediate positive first impression and can help improve the overall value of the home.
#3 Pass Home Inspections
Another way in which a new roof can increase the value of the home is when it comes to home inspection. For almost every transaction in the real estate market, a home inspection is necessary. If a home has a new roof, it will certainly pass this portion of the inspection and help increase the appraisal value of the home.
If you have a leaking roof or damaged roof that shows up during an inspection, it may lead to negotiations for a lower offer on your home. Potential home buyers can use this as a way to get a better deal on a home. Try to avoid this by replacing your roof before you go to list your home.
#4 Save Potential Home Buyers’ Money Upfront
Another way in which a new roof will increase the value of your home is by helping home buyers save money upfront. Most people looking for a home are going to use their entire savings for their down payment on the home. They will rarely have extra money left over to do major renovations, like a roof replacement. If you are looking to sell your home, you can add a new roof and increase the overall value of your home. You can then list the home for more. Most potential home buyers are willing to pay a higher purchase price for a home and avoid repairs.
Adding a new roof is an ideal way to help increase the value of your home. You can opt for adding an extra layer of shingles to your home or replacing the roof entirely. The choice is up to you and the professionals you use to replace the roof. Either way, you can rest easy knowing that a new roof will absolutely increase the value of your home and help you sell your home faster.