April 14, 2022
As a proud homeowner in Florida, getting things done has a sense of accomplishment for you. If you spend your Saturday power cleaning your driveway, you have felt the joy that comes with a job well done. While you might accomplish most household responsibilities and tasks, it’s best to leave some things to the professionals.
Tasks like roofing are best managed by expert roofing contractors. Hollywood, FL residents can trust them to know which material works best for a cool roof and what to avoid. Besides reducing your energy cost by 10%, roofing is a powerful marketing tool when selling your house. Statistics show homeowners recover nearly 62% of roofing costs when they sell their houses.
How Much Value Roofing Adds to My House?
The research on how much value roofing adds to my house is somewhat mixed. One study concludes that roofing is a reasonable investment. While the Remodeling’s 2019 Cost vs. Value Report found that an average American spends nearly $22,000 on a new asphalt shingle roof of mediocre quality, which increases the house’s value by $15,427 on average, a staggering 68% percent recovery on expense.
On the other hand, The National Association of Remodeling Industry found that new roofs provide a 109% increment in house valuation. While putting a new roof on your house is a profitable investment, how do you know your roof will increase the value of your house? To answer this question, we’ll have to account for at least 3 factors that will impact the price of your house.
- Condition of Your Roof
Keeping your roof in good condition is considered an essential part of home maintenance. Just like plumbing, buyers will expect your roof to be in good condition. Otherwise, you’ll have a hard time selling your house. Most buyers will reject your house from a distance if your roof is in bad shape. After all, only a few buyers have the money and energy to undergo major roofing expenses when they purchase a house.
If you want good value for your house, your roof should be in pristine condition. To boost your house valuation, use premium quality material when roofing; this leaves a good impression on the buyer, and your house will sell for more than what you paid for.
Local appraisers will notice your roof if it’s in bad shape and accordingly reduce your house’s value. But if your roof is 5 years old and in good condition, roofing won’t increase its value.
Think from the buyer’s point of view, will you pay extra for a new roof while the previous one was in good condition? If your roof is fine, let it be. Don’t let greed get the best of you because buyers have a keen eye, and they’ll suspect something off-putting if you get a new roof.
- Market Condition
Knowing where the real estate market is headed is crucial before selling your house or paying for roofing. Ask for advice from your local appraiser to know whether it will be profitable to get a new roof. In most cases, a new roof always appreciates the value of your house, but different areas have different requirements. Some buyers might prefer new plumbing lines over roofing. It’s up to you to figure out whether roofing will help or not in your area.
- The Shingles You Have Chosen
The shingles you choose for your roofing have a significant impact on your house’s value. After all, the better the material, the expensive your house will get. For example, if you install new wheels on your car, its value will appreciate according to the price of those wheels. It’s an additional feature a buyer will get with your car.
However, it’s relatively hard to find buyers who will appreciate a quality roof. Some with limited budgets will prefer cheap roofing and pay less instead of securing their home for the future, paying once and for all.
You can say the downside of an expensive roof is finding the right buyer. Still, if you are buying a new house for investment purposes, you should buy an expensive roof. By the time you decide to sell your house, the real-estate and roofing market will be higher, and you’ll make a substantial profit.
Whether you buy expensive or cheap roofing material, the roofing will increase your house’s value. Undoubtedly, the real estate market will put a better price on your home after roofing. When looking for a reliable and well-known roofing contractor, Hollywood, FL’s J & K Roofing should be your first choice. They have over 30 years of experience in the business and work on both commercial and residential projects.
To talk to a roofing expert, dial (954) 961-9879 or visit our website for more information.