Are you thinking of selling your home soon? Then you may want to think about having the roof replaced. Let’s look at how a new roof can increase the value and sale price of your home.
The Salability of Your Cincinnati Home
Let’s be honest here. A new paint job and beautiful flowers planted in front of your home will increase its curb appeal. None of this, though, will make up for the obvious eye sore and legitimate fears created by a roof with visible gaps in the shingles, warping or severe discoloration. If the roof problems are so obvious that anyone who sees them will be afraid to buy the home unless they’re looking for a cheap fixer-upper, you won’t be able to sell your home to anyone. It takes time to find those bargain hunters, and they will never pay the asking price for your home. This is why a third of members of the National Association of Realtors say a new roof helps them close the deal. In these cases, they say that the ROI has a recovered cost of more than 100 percent.
At a minimum, you need to replace the roof if its condition will cause you to fail inspection. If the roof repairs will make it look like a patchwork quilt, a full roof replacement is better than making repairs. If the roof just doesn’t look good, ask a trustworthy Cincinnati roofing contractor to come out and make suggestions. You may be able to get by with cleaning it to kill algae and moss, or you may need to make repairs to resolve active leaks you didn’t know you had. Either way, knowing ahead of the sale is important.
The Return on the Investment When the Roof Is Bad
Suppose the roof isn’t so bad it makes people think the home is about to fall down. There are still cases when a roof replacement has a nearly 100 percent return on investment. For example, if your home’s roof is approaching the end of its life span, anyone who wants to buy the house will subtract the cost of a roof replacement from their offer for your home. If you put on a new roof, it will be both a selling point for potential homebuyers. and ensure that sale price equals the home value.
In other cases, the ROI on the roof replacement is directly proportional to the expected life of the roof. If the roof is expected to need replacement in two to three years, a new roof will provide peace of mind to prospective Cincinnati area homebuyers. It will certainly have a better return on investment than a potentially over-done kitchen. For example, forty percent of building issues are caused by water leaks from the roof, and these issues start to arise around year 15. If you have water damage in the home, it’s a good idea to replace the roof if you want anyone to be willing to pay full price for the home. Conversely, being able to dismiss minor water damage in the home by saying you replaced the roof is a point in your favor.
However, you should not layer shingles if you’re trying to upgrade your roof to make the home easier to sell. Layering shingles could actually reduce your roof’s life. Mentioning the double layer of shingles can hurt your home’s perception with buyers, because it means that the eventual roof replacement will cost more than average. If you are trying to add a new layer of shingles on top of an existing one or two layers, you could actually endanger the value of your home by adding too much weight to the roof and giving water many different ways in.
The Typical Return on Investment For A New Roof
The cost of a roof replacement depends on the size of the roof, the material you use, and the complexity of the job. For example, the steeper the roof, the more the job costs. Asphalt roof shingles are the least expensive roofing materials to use and repair. Slate is the most expensive. Clay tiles and wood shingles are somewhere in the middle. If the roof is several years old, the ROI of a new roof is anywhere from 50 to 75 percent. The average ROI is two thirds of the investment.
The return on investment for the new roof will depend on buyer expectations and fears. For example, if you put a asphalt shingle roof on a home in a community dotted with clay shingles, your home may look cheap. If you put clay tiles or wood shingles on a home in a community full of asphalt shingles, your home will appear more upscale, but possibly out of place. If you can show that you went above and beyond the basic requirements, such as installing storm-proof shingles or flame-resistant wood shingles, you may stand out from the competition.
Roofing Experts In Cincinnati For Repairs or Replacement
Want piece of mind? Contact the Cincinnati roofing professionals at Harper Siding and Roofing. We’ll provide an honest evaluation of your home’s roof, and affordable pricing if you decide to move forward with repairs or replacement. Either way, your home will be in a better place for getting top dollar when you put it on the market.