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Will a New Roof Boost Your Home’s Appraisal Value?

fastorealestatesol

2 min read

Jun 11

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Investing in a new roof is a significant decision for homeowners, often driven by the desire to increase the property’s value. Here, Fasto Roofing, located in Mason, OH, explores whether a new roof truly enhances your home's appraisal value and the factors you should consider.



The Importance of a Roof

A roof is essential for protecting your home from the elements and maintaining its structural integrity. It shields your house from rain, snow, wind, and other external factors, ensuring the safety of its contents and occupants. Over the years, roofing materials and techniques have evolved, focusing on durability and performance.


The Cost of a New Roof

Replacing a roof is a considerable investment. Homeowners can expect to spend between $5,886 and $12,800 on a new roof, depending on location, materials, and the size of the home. While DIY projects may seem cost-effective, professional installation is crucial to avoid complications and future issues.


Does a New Roof Increase Home Value?

Return on Investment

According to Remodeling’s 2023 Cost Versus Value Report, homeowners can recoup about 61% of the cost of a new asphalt roof in home value. While you may not recover the entire expense, a new roof can make your home more appealing to buyers.


Market Expectations

A house is expected to have a functional roof, and buyers assume it is in good condition. Therefore, the cost of a new roof is factored into the home’s price rather than being seen as an add-on.


Factors to Consider

Roof Condition

If your roof has visible issues such as leaks or missing shingles, replacing it is advisable. A damaged roof can deter potential buyers and lead to lower offers.


Local Real Estate Market

In a competitive market, a new roof can give your home an edge. However, in markets with high demand and limited inventory, a new roof may not be as crucial for a quick sale.


Maximizing Return on Investment

  • Choose midrange roofing materials that offer durability and aesthetic appeal.

  • Ensure the roofing materials and style match the neighborhood.

  • Maintain regular inspections and upkeep.

  • Highlight the new roof in marketing materials.

  • Offer to transfer the roof warranty to the buyer for added peace of mind.


Conclusion

A new roof can boost your home’s value, though you might not recoup the full cost. It enhances your property’s appeal and can be a significant selling point. Weigh the immediate costs against long-term benefits, and consult with a real estate agent for informed decision-making.


If you want to know about the best tips and tricks by local roofing experts, click here.



fastorealestatesol

2 min read

Jun 11