Replacing a roof is a very expensive project that most homeowners avoid, but a recent report shows a new roof gives homeowners a 109% ROI on the project.
Homeowners usually undergo home improvement projects with the expectation of upgrading their current space into something they have always wanted. Although homeowners sometimes expect that this upgrade will significantly add value to their home, most home improvement projects won’t add that much to the bottom line if you go to sell your home. With that said, there are home improvement projects that combine aesthetic upgrades with upgrades to your home’s value and a new roof is one of them!
R.O.I Of A New Roof
Replacing a roof is a very expensive project that most homeowners avoid. Even though the cost can be an issue for homeowners, if a roof is damaged or needs to be replaced it can affect more than just a home’s overall value. It can cause increased energy bills, reduce curb appeal and may impact your homeowner’s insurance rates.
According to the Qualified Remodeler report, homeowners who replace or upgrade their roof see 109% return on their investment when they go to sell their home. That’s great news for homeowners!
What makes the ROI of a new roof so high? To start, the roof of a home accounts for about 40% of the overall curb appeal. An old, damaged or ugly roof can negatively impact a home’s list price and the length of time it stays on the market. In fact, according to the Qualified Remodeler report, however, 32% of real estate agents claim that a recently replaced roof helped close the deal.
In addition to curb appeal, a new roof often improves a home’s energy efficiency and can reduce overall insurance rates. Roofing materials today are far more advanced than they were even 10 years ago and offer superior protection against leaks and potential damage. All of these benefits give homeowners peace of mind and that’s why homes with a new roof are sought after by home buyers.
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