Roofs can be one of the most expensive parts of the house—expensive to have it installed, and expensive to have replaced or repaired. But, did you know that this also means it maximizes your home value when the time comes you wanted to sell it?
According to the annual Remodeling Magazine’s Cost Versus Value Report, homeowners can expect to get 66 to 69% of the cost of a new roof back in home value. This is backed up by a research conducted by the National Association of the Remodeling Industry (NARI) and the National Association of Realtors (NAR) which founds that 45% of Realtors suggested sellers add new roofing before attempting to sell and 32%said roofing is what helped them close the deal. The organization argues the recovered cost is more than the spent cost (109%).
Replacing your roof does have a pretty high return on investment, especially compared to other house projects, but it doesn’t mean you can necessarily mark up the asking price dollar for dollar for what you spent on the new roof. Pricing a home is more complicated than that. Keeping up a roof well functioning and normal aesthetically should be part of a regular home maintenance, so a seller shouldn’t expect a buyer to pay extra for the roof, even if it is top-of-the-line and brand new.
What kind of reroofing does your home need in preparation for the sale?
Experts suggest that you should do an initial inspection before calling your trusted contractor.
If the roof is looking good and there are no active leaks, you should wait for the inspection. If the roof doesn’t look good, you should ask a roofing contractor to come out and make suggestions.
Maximizing your ROI with a new roof
If you plan to conduct a re-roofing project for your home (because it needs it) before a sale, here are some tips on how you can maximize your investment:
The question of whether you should replace your roof before selling is hard to answer. It will increase the value of your home and increase the chances of your house being sold in no time.