Don’t Let a Run-Down Roof Impact Your Home Sale Value
When preparing to sell your home, you must take an inventory of improvements you’ll want to get done before putting up the for sale sign. Things like a fresh coat of paint, a new mailbox, and some eye-catching landscaping can undoubtedly improve the initial curb appeal and appearance of your home. However, it will take more than that to reel in potential buyers and get them to sign on the dotted line.
One thing many home seekers look for is a solid roof. If the top of the house is shabby, old, or leaky, it can leave your sale dead in the water. Roof replacement is expensive. If potential buyers see a terrible roof, they’ll think the house may be suffering water-related issues like warped wood, mold, and mildew.
Return on investment
According to Home Advisor, the cost of getting your roof repaired can run anywhere between $380 to $1,746, with the average price being about $1,050. This isn’t outrageous when it could mean the difference between your house selling or you being stuck there longer than you’d like. If the top of your house is beyond repair, and you need a whole new roof, you may need to take a seat.
New roofs are expensive, but there’s good news. A new roof can increase your home value by sixty percent of the cost of the roof. So if you spend $30,000, you’ll be able to tack on a reasonable $15-$18,000 to the price of the house. It all depends on the type of materials you choose.
For example, a seamed metal roof will yield a more significant return because it is sturdier and more efficient. This roof type has been gaining popularity since 2015, when, according to Bob Villa, about 50,000 homeowners went with metal roofs. Regardless of what kind of roofing material you decide on, it will add value and appeal to your home. Besides making the home look neater and more attractive, it will save money in the long run.
Energy-Efficiency and Durability
New materials and techniques allow for better energy efficiency and ventilation. This will keep your HVAC system from working so hard. Air will flow better through the attic so that it won’t reach an unbearable temperature. If you want to add to your home’s sale price, consider installing a fortified roof. These roofs are made from unique materials and are constructed in such a way that they can withstand natural disasters and severe weather conditions.
Many farmers use fortified roofs for their homes as well as barns and other structures. According to Successful Farming, sales of farmland and rural property remained stable in 2022. Sales are projected to stay steady through 2033. If you’re considering roof repairs or an entirely new roof, there are some things to look for in a contractor, especially if the purpose is to make it look good to potential buyers.
Inspections and Risk Reduction
To sell your home, you’ll need a home inspection, including the roof. So it’s best to get the roof done if you can. Surprisingly, many mortgage loan applications have been turned down because of the roof’s condition. No bank will take a chance of finding a home at risk of water damage or other dangers related to a faulty roof.
A brand-new roof will also allow you to hold firm on the asking price. A good tip when choosing a roofing contractor is to ensure they offer 24-hour service. The last thing you need is for an issue to pop up during the sale process.
Though a new roof or repairs can seem expensive, it will earn you money once the house is sold. Research several contractors and try to get a happy mix of experience, quality, and price.
