Not all home renovations have the return on investment rates that sellers may expect them to. For example, major kitchen remodels tend to only produce an 80.9% return on investment, meaning that in the end, you may lose a bit of money.
How do you know which renovations you should invest in before selling your home and which ones you should leave for the buyers to handle?
One of the best investments a seller can make to boost their property value is the installation of a new roof.
Why does a new roof produce such stellar results? Read on to find out!
A New Roof Can Stand the Test of Weather
If a roof is older or bears a bit of structural damage (including something minor like a few broken shingles), it becomes much more vulnerable to the weather. Everything from high heat to heavy rain to snowfall is going to weigh on that damaged roof and can cause major damage.
When you work with a roofing company that knows your region well, like Shine On Anchors, you can rest assured that your new roof will stand the test of all your regional weather patterns.
A New Roof Protects Your Property’s Interior
Your roof may be an exterior structural element of your property, but it works wonders to protect your property’s interior. When roofing is damaged, it can lead to some very unpleasant interior issues. This includes water damage, pest problems, mold, heat loss, and more.
That’s why when sellers come across a property with a damaged roof, they see more than just the cost of roof replacement in their future. They know that residual damage can also add up quickly, which means that they’ll negotiate for a lower price than you may have expected.
A Damaged Roof Reduces a Property’s Move-In-Ready Factor
At the end of the day, your roof is one of the most important structural components of your property, second only to the foundation. If a seller is looking at a property with a damaged roof, they may not feel that the property is move-in-ready. That means that before they can even move into their new home, they’ll have to find a place to stay and store their belongings while the roof is replaced.
When you invest in a new roof, you add thousands of dollars to your property value. Not only does a new roof make your property move-in-ready but it also guarantees the new owners at least seven years of minimal effort to maintain the roof.
Get a New Roof and See a Great Return on Investment
If you’re not sure where to invest your money before listing your property for sale, consider investing in a new roof. A damaged or old roof is a huge red flag to both home inspectors and buyers. A new roof, on the other hand, will guarantee that your property goes up in value.
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