3 Ways a New Roof Increases Your Home's Value
Did you know that adding a new roof to your home can boost your home value by around $20,000? According to Remodeling’s Cost vs. Value Report, roof replacements have one of the highest return on investment values for home improvements. There are several reasons that adding a new roof to your home increases its value.
1. Address Any Leaks or Other Issues
The main reason that a roof increases your property value is because it makes your home safer and more comfortable. When a house has leaks and other issues, its value declines. Not only is it worth less, but lenders may refuse to qualify the property for another mortgage. By putting a brand new, watertight roof on the house, you make it a more useful property that is worth more overall.
2. Boost Your Home's Curb Appeal
A new roof is also an excellent way of increasing curb appeal. You can pick an attractive colour and design that highlights your home’s features. Since a home’s look greatly affects its sale price, an attractive new roof means the house becomes more valuable. This is especially true if you live in a nicer neighbourhood where an outdated roof makes your home look shabbier than its neighbours.
3. Appeal to Buyers
Much of a home’s value is simply due to how much buyers are willing to pay for it. Hearing that a home has a new roof is a major selling point for most buyers. They feel reassured that the property is in good condition and enjoy knowing that they won’t have to replace the roof anytime soon. It’s an easy way to stand out in a competitive market, and when buyers are more interested in your house, they’re ready to pay more to purchase it.
As you can see, a new roof is an excellent choice no matter how long you plan on being in your home. Not only does it make your home more comfortable, but it also makes it more desirable to home buyers. If you’d like to learn more about roof replacements, contact Himalaya Group today.
