SHOULD I REPLACE MY ROOF TO INCREASE MY HOME’S RESALE VALUE?
So you’re getting ready to put your house on the market. Moving is a big decision, whether you’re upsizing to fit your growing family, moving to a new city, or looking for somewhere smaller to settle during your retirement.
You want your house to sell for the best possible price – and you’re wondering whether redoing your roof will have a significant impact on the resale value of your home.
Well, one of the most important things that contribute to your home’s value is how well it has been maintained and kept up. Smart home buyers know that a house in good condition will serve them better in the years to come than one that’s aesthetically pretty, but full of structural issues.
Fancy upgrades are nothing in the face of making sure the basics are in prime condition. The roof is absolutely one of those essential basics that must be addressed if you want to get top dollar for your property.
Typical buyers don’t want to face major renovations or maintenance right off the bat. During the buyer’s home inspection, a roof in need of replacement may cause them to back out of a sale.
An old roof may turn off buyers by giving them a negative impression of the home’s upkeep. A roof in poor repair will bring down your home’s value when it is appraised and buyers may also use it as a reason to negotiate the price even lower.
Chad Baker, associate at ReMax Advantage Plus in Lakeville, MN, says the roof is the most important of what he calls the “big three” items that add value to a home that’s for sale. The other big value-adding improvements being new windows and new siding.
“A new roof not only helps your home achieve the coveted ‘move-in ready’ status, but it can literally add tens of thousands of dollars to the value of your home … sometimes as much as two or three times more than the cost of the new roof.”
In addition, says Baker, a new roof helps your home stand out from neighboring homes that may be on the market, especially if you choose materials that complement the rest of your home’s exterior, thus adding to its curb appeal.
According to Remodeling Magazine, a roof replacement increases the value of your home during resale by an average of 11.2 percent. This beats out a bathroom remodel, which is widely accepted as one of the best renovations to sell your home.
Simply put, the roof is an important part of your home’s first impression to potential buyers! One in need of repair – or one that isn’t looking great, even if it’s in good repair – can lower your home’s value.
Whether you need to completely replace your roof, repair a few shingles, or update the gutters and soffits, redoing your roof will undoubtedly help increase the value of your home when you’re ready to sell.
Do you want to replace your roof to improve the resale value of your home? NMC Exteriors & Remodeling can help! Call us today at 763-260-8537 and schedule a free, no-obligation inspection and consultation.
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