An old, run down, poorly cared for roof can drag down the value of your home significantly. Replacing the roof is one sure way to raise a low property value.
Spring has arrived, and with it, the rush of the housing market. It's the season of rebirth and new beginnings, and it's the most popular time of the year to buy and sell a home.
If you're thinking of listing your home, you may also be considering things you can do to ensure that you get the best price for your property. Increasing property value can be done in a variety of ways, from boosting curb appeal to investing in serious remodeling projects, replacements, structural work and more. One such way to boost property value is through a roof replacement.
What is Property Value and Why Is It Important?
Property value is, quickly explained, the comparative value of your home judged against others in the neighborhood and surrounding area. To determine this value, professional appraisers utilize a 'comparative market analysis' and break down the components of your home and others on the market. In this way, an appraiser can give a good estimation on what price the home should be sold for.
Knowing the accurate value of your home before listing is essential, and one of the first things that you'll have to know before beginning the process. Property value can help you to determine more accurately what you can afford moving forward, and give you an indication of how to increase the value of your home if it's low at first estimation.
A New Roof and Increased Property Value
Of all the things that you can do to increase your property value, a roof replacement has a high rate of return, around 60% on average. While most of us simply think of our roofs as a layer of shelter between us and the elements, much like an awning in the rain, it's much more complex than that. The roof of the home is one of its most important insulators. Depending on the chosen roofing material, it could be a major energy efficiency feature of the home, absorbing and repelling heat as the seasons change.
An old, poorly maintained roof will only drag down the figure that you can anticipate to hear back from an appraiser. Depending on age, the materials could be dangerous--with components such as asbestos, or natural contaminants like mold and mildew--or could simply be beginning to deteriorate. If there are missing, curling or cracking shingles, the roof is no longer able to do its job properly and a new roof installation is necessary. The same can be said for gratuitous amounts of moss and plant growth on the shingles.
When Should A Roof Be Replaced?
The need for a roof replacement will largely depend on the following:
- The Material Used--Different roofing materials will have differing projected lifespans. Asphalt, the most common roofing material, typically lasts 20-30 years if well maintained. Other materials will have differing projections, and may hold up better than others.
- Proper Inspection/Maintenance Schedule--In general, it's best to have your roof checked over by a professional twice a year. Self-checks from the ground and the interior are all well and good, but a professional on the roof will be able to accurately assess the condition of the roof and decide if action should be taken, such as a full roof replacement.
- Climate--Here in the USA, we have a large landmass that stretches across different climates. Up in the Northeast, we have all four seasons and seasonal storms that can fling branches, drop hail and bury us in snow, all depending on the time of year. Other climates will face different challenges, such as high winds, blistering heat, or frequent precipitation and could require a whole new roof installation after a shorter or longer time based on environmental factors.
Finding a Local Roofing Contractor You Can Trust
If you're considering placing your house on the market this year, make sure your roof is fully intact and in good health before doing so. HomePro Match has a directory of local roofing contractors that can help inspect your roof to ensure that you get the best possible price for your home, and a better start in your next one!
Reach out to a roofing company near you to get started today!