Believe it or not, your roof has a big impact on the value of your home. When it comes to real estate appraisals, there are many factors that are taken into consideration and your roof is a big part of that.
Here is how your roof affects the value of your home.
Keeping Up with Maintenance
When it comes to owning a home, it is crucial to keep up with the maintenance of the property. A benchmark in real estate is to make sure you are up to date with any improvements or upgrades in your neighborhood. However, it is equally important not to exceed them. If you decided to update your home with a roofing material that is high quality like copper, while the rest of the neighborhood decides to use asphalt shingles, you will have a difficult time regaining the expense of the roof in resale value. Also, when you choose a low-quality roofing material while the rest of the neighborhood uses a roofing material of higher quality, your property value is likely to decrease in comparison.
Another factor to take into consideration is the general upkeep of the neighborhood. If your roof is poorly maintained and looks unkempt while the rest of the neighborhood has new or well-kept roofs, that can bring down the property value of your home while possibly depleting the value of your neighbors’ homes as well.
Keeping Your Home Energy Efficient
Today, new roofing products can help keep your home energy efficient. These products can include better insulation underneath roofing material, reflective coatings to help reduce heat, solar paneling to help generate electricity, and stronger bonding agents that keep your roof from leaking. If you have an older roof and it does not offer any energy efficiency, the value of your home would be significantly less than if you were to have an updated roof with those newer materials. That is why it is important to evaluate when it is a good time to revamp your roof.
Out with The Old, In with The New
An older roof can negatively impact the value of your home, especially if it was not cared for properly. However, a new roof can increase the value of your home by as much as 40 percent. For instance, a $100,000 home could be increased to $140,000 by simply adding a new roof. This goes for places of business as well. If you have an older roof, the value of your home can be considerably less than if you were to have a new roof. When a roof is updated it gives the impression that the property owner cared about the maintenance and upkeep of the home. A new roof will often inform potential buyers that the home was well taken care of, increasing the likelihood of an offer being put in for the property.
Consider a New Roof
Overall, an updated roof will help increase the value of your home. If it has been a while since you have had your roof inspected or it is about time to redo your roof, make sure to give us a call here at Eagle Roofing and Construction. We will be more than happy to help you!