The True Value of a New Roof
Updated: Mar 15
Selling your home? Now is the time. With the housing market the way it is, homes are currently selling at prices almost 20 percent higher than they were just at the beginning of this year. But, what does that mean for your roof?
The National Association of the Remodeling Industry Research shows that homes sustaining improvements that enhance its curb appeal *almost always* increase the property value. It's no secret that a home that's been taken care of to the point where it is visible to the untrained eye is more likely to spark the interest of buyers. A lesser known fact is that, not only does a new roof drastically changes the look of your home, it also reels in buyers looking for reliability and ultimately the long
term safety aspect one gets by being covered by a new roof with a transferrable warranty.
An investment in a new roof may not always pay off if, of course, you do not count the potential losses one might sustain by neglecting the need for roof repairs and/or replacements.
Some studies in the past have shown that the return on the investment in a new roof is, on average, about 60% (meaning that if one invested $10,000 in a new roof, that $6,000 would come back. However, current research is pointing toward a more generous return. The NARI's most recent remodeling impact report actually determined that, depending on the severity of the damage or wear of the existing roof, a new roof can bring over 100% return on investment.
In the end, it can be said that there are 3 factors that influence the property values for a roof replacement.
The condition of the current roof/ the roof to be replaced.
The current, local housing market conditions.
The type of materials used to replace the roof.
With all of this in mind, if you are looking into selling your home, have a professional roofer come out for an inspection. It could, in fact, be the difference of a $10,000 dollar return OR MORE! Using only the highest quality materials EVERY. SINGLE. TIME. You can trust Elite Roofing LLC to cover you and your buyers for years to come. :)