Roofs are perhaps one of the more dreaded maintenance items on many homeowners’ lists. They are expensive and can feel unimportant. However, maintaining a good roof is important for ensuring your home is safe and energy efficient. Moreover, a new roof can increase your home’s value significantly. Read on to learn more about how a new roof can positively increase your home’s value today and in the future.
New Roofs and Property Value
With a lifespan of about 20 years for a typical shingled roof, it is no secret that prospective home buyers want to avoid replacing a roof soon after purchase. Due to the expense and work required to coordinate a replacement, many prefer to have a new roof ready for them with their new home. Here are a few reasons new roofs can increase your property’s value in the selling process.
Buyers Pay More
As mentioned previously, many buyers want a totally move-in ready home with little to no maintenance required upfront. The buying process is stressful, and many are just ready to enjoy their new homes. For this reason, many buyers will actually pay a premium in order to have it totally done. A new roof is definitely of monetary value for a prospective buyer.
For the same reason as above, a home with a roof about ready to be replaced often means a smaller pool of buyers. With a smaller pool of buyers comes a smaller number of offers for you to pick from. In a hot market like the one we currently are experiencing, you want to maximize the number of offers in order to get the best offer possible.
With a smaller pool of buyers also comes a longer selling process in general. This is not always true, but many buyers will not even look at a home with a roof in disrepair, which could mean longer time on the market for your home.
How Much Can A New Roof Affect the Value?
According to Zillow, you might not see a 100% return on your roof. This is not uncommon for home improvements in general; most don’t get a full recoup of the money spent. However, it can still be worth it for the other reasons mentioned above, particularly making negotiations easier and the time to sell faster. If you are considering replacing your roof, you’ll want to know how much return on investment, or ROI, you can expect. This differs greatly for the different types of roofs.
For standard asphalt shingles, you can expect an average ROI of 68.2%, which is based on average national costs and resale values. Metal roofs can expect a similar figure of 60.9% return, as these have a significantly higher replacement costs, but are also desirable by prospective homeowners for their overall energy efficiency.
AWS Roofing Can Help
If you are looking to learn more about how a new roof can potentially help your home’s value, AWS Roofing would love to help consult with you. We have over 30 years experience in the industry with all types of roofing. We are a family-owned business that cares deeply about our Volusia County community. We are fully insured and licensed, so you can feel good about the investment you are making to your home, knowing your home will be in good and trusted hands.
Call Us Today!
If you’re looking to take the next step in increasing your home’s value, then give us a call today at (386) 210-7278 or email us at email@example.com. We’d love to hear about your roofing needs and how we can make a roof repair or replacement easy and profitable for you and your family.