How much value does a new roof add to your property?

July 21, 2023 | Uncategorized | Comments (0)

Selling a home is a behemoth of a task. Contrary to what one may think initially, selling the house does not just mean finding a real estate agent and putting up a for sale sign. It comes with a bunch of additional tasks and precautions that the owners must take to get maximum value from their home. A house has numerous parts and spaces which need to be taken care of by the owner.

When putting a property up for sale, owners often find themselves incurring quite a bit of cost in terms of property repairs and renovations. This can also lead them to wonder whether and which parts of the house should be repaired and renovated and which can be skipped. When it comes to the roof of the house, the majority of people often wonder whether it is even worth getting the roof repaired. How much of a difference can adding a new roof to the home really bring to the property value?

Well, as it turns out, a roof can significantly increase or decrease your property value. In fact, some studies even estimate an increase to the tune of 60%-68% in the property’s value by adding a new roof. But, of course, this value depends greatly on where you are situated within Canada, the overall condition of the house, as well as the regional property values, among other significant factors.

So exactly how much value can a new roof add, and how?

It never hurts to check out what the potential investment and return on this investment would be. Don’t consider this repair or installation of the new roof as an expense. Instead, view it as an investment, the return for which will be achieved as soon as the property gets sold.

So how does a new roof make a difference, and by how much?

Great first Impression:

When a property is on the market, first impressions matter the most. A raggedy roof would not attract many customers, whereas a new roof would be another attractive feature of the house. As soon as people drive by the property, they first notice its exterior condition, and that’s where the assessment of “whether this is my next house or not” starts. If your roof is not too old or in bad shape, you can even choose to get it repaired. The main thing to ensure is that it should be in good condition, and must look the same as well. When a person is investing so much into a new home, they would surely like for it to look good!

Quick Inspections:

Inspections are a big part of the process of selling houses. The process becomes a little simpler by having a well-maintained and renovated house. The more the number of issues a house has, the lower it would be graded. Additionally, owners would be told to get the issues fixed before they can make a sale, especially if the repairs are of a dangerous nature. If the inspection is done once the house is renovated, it will lead to an excellent report, further building the buyer’s confidence. This, in turn, would help you get the best property price much more quickly.

Long-term value:

In most parts, roofing is relatively inexpensive. As such, this small investment must be done in order to get significant returns. A simple consultation with a real estate agent can help you understand how much you would be investing by getting the roof redone and how much it can elevate the price of the property. This also ensures that the new roof would be more robust and able to bear climatic variations easily. These are qualities that buyers look for in a house when moving ahead of just the looks of it. A strong roof, especially in cold places like Canada, is a necessity. As such, it should be regularly repaired and redone, if need be, before selling a property.

Give a new look:

Changing the roof of a house is perhaps one of the simplest ways of changing the look of the house. This works for great benefit when trying to sell the property for various reasons. A new look to the house is always an upgrade. It redefines the house and makes a statement. While a potential buyer who is seeing it for the first time may not understand this, it would be visible to you and the real estate agent. This would help boost your confidence and narrative when showing the house to potential buyers and increase the chances of getting a favorable offer. How the house is showcased plays a crucial role in determining how convinced a buyer is about its worth.

Better Strength:

On average, the life of a roof is about 12-18 years. It becomes pretty vital to change the roofing. However, if one lives in a colder region of Canada, this average life period could be shorter too. Similarly, depending upon the quality of the roofing installed, the life span of the roof varies. As such, it is essential to change the roofing before putting the house up for sale to ensure complete safety and security of the house along with added strength to the property. This would directly appeal to potential buyers who would be willing to pay a little more for the heightened strength and safety of the roof.

A roof plays a vital role in homes, especially in cold countries which experience a lot of snowfall. In these countries, the roofs can become weaker over time on account of all the absorbed moisture. This makes it even more necessary to keep up with the repairs and renovations regularly. These renovations and repairs help in keeping the building’s structural integrity, which plays highly in favor of the party seeking to sell the house. Potential buyers respond well to such renovations as it also shows the current owners’ responsible behavior. Additionally, it also takes away the burden of making repairs and renovations before or promptly after moving into a new home, which is always a plus.