We know how hard it can be to save money to invest back into your home, and when you finally get the money together in order to make improvements, renovations, and upgrades, you don’t always think about investing in your home’s exterior. In fact, when you have the choice between installing a new roof and renovating the master bathroom, our bet is you don’t even think twice about the roof. But that’s where you may be running into problems. There is clear debate, especially in the world of real estate agents, what value a new roof will add to a home, especially if you’re looking to sell within five years. The field is clearly split. Keep reading to learn more about this debate and the return on investment (ROI) that a new roof for your Denver home can provide.
Get a Great Return on Investment
On one side of the debate, there are real estate agents and appraisers who say that a new roof on a house can provide you with a great return on investment, especially if you go to sell. According to CNBC, “Spending $14,000 on a new roof can add curb appeal and up the asking price by $10,500, for a ROI of 75 percent.” Compare this investment to a large kitchen upgrade, which may only provide you with a 67 percent return on investment, depending on what you opt to have done. Roofing your home not only provides the curb appeal, but if it really needs it, it helps to protect the integrity of your home. A ROI for a roof is calculated by looking at a variety of factors including structural integrity, material longevity, and energy costs, just to name a few.
Can’t Sell Otherwise
On the other side of the debate are real estate agents and appraisers who will tell you that you will receive absolutely no ROI from investing in a new roof within a few years of selling your home. However, these same individuals will freely admit that if your roof looks worn or is flagged on an inspection, you definitely will not be able to sell the house. Individuals in these situations end up having to re-roof their home in order to sell it anyway, so isn’t it best to do so when you aren’t under the time crunch and stress of trying to sell your home?
Experience the Benefits
As we just discussed above, if your roofing material is worn out, dingy, or storm damaged, you’re going to have to replace the roof one way or another before you sell in order to get a good offer on your home. However, whether you’re in the group that thinks you get a fantastic ROI or you’re in the group who thinks you should just replace your roof to sell, you will gain benefits either way. A new roof reduces your home insurance premiums and helps to protect the rest of your house from any environmental damage.
If you need to have a new roof installed on your home, contact the experts at Crest Exteriors for your estimate today!