Buying a home can be one of the most expensive purchases someone can make in their lifetime. Zillow estimates that the average sale of a home in the United States currently goes for just shy of $300,000. This marks a 13% increase year-over-year and, after a hot spring selling season, Zillow forecasts the average selling point of a home across the country is expected to rise another 15% next year.
If you are looking to capitalize on the hot market, home renovations can be a good way to increase the overall value and curb appeal of your home. While often times it is bathroom or kitchen renovations that are the most attention grabbing, keep in mind that making sure your roof is in good shape can be a wise investment, being one of the bigger ticket items of a home.
Understanding this, we at MLM Home Improvement have provided a guide on how your roof can impact the home selling process.
Smart Renovations Make Money
The first thing a homeowner should consider is where and how their renovation investments should be placed. While it is difficult to quantify the exact expected return on investment of pre-sale renovations, the National Association of Realtors Research Group estimated that a homeowner who renovates a roof can expect to see approximately 100% return. Compared to only a 50 – 60% return on kitchen and bathrooms, replacing your roof potentially represents a better chance to recoup your money and increase the overall value of your home.
Reaching out to a trusted, local contractor to take an in depth look into the health of your roof could be a worthwhile avenue to explore as they’re uniquely qualified to spot potential problems that may scuttle a sale. If unsure of who to contact, look for contractors who are backed by national manufacturers like Owens Corning.
Aesthetics Add to the Curb Appeal
If embarking on a remodeling project, the roof can be that final puzzle piece in ensuring sure your home has maximum curb appeal from top to bottom. Considering the shingle color is important and should be able to fit in with today’s designs and those 10 years from now. While it may be hard to predict the design trends of the future, choosing a color and shingle design that is classic and understated can provide longevity to your home. Navy and heather gray, for example, are two shingle colors that have stood the test of time and fit into almost any home color palette.
Streamline the Selling Process
A pristine looking roof can give potential buyers the peace of mind that purchasing your home will not lead to more hidden costs down the road. Aside from visuals, a dilapidated roof can have real consequences on the home selling process. After all, the roof is one of the top priorities during an inspection and one that, if in need of repairs, can be a point of friction between buyers and sellers. While some homebuyers might be willing to overlook other problems within the home, a damaged roof can often times be a deal killer.
Therefore, work with a trusted contractor, who is qualified to spot potential problems that may scuttle a sale, prior to putting your home on the market.
While deciding to replace a roof before selling can seem like an unnecessary expense as you are looking to leave the home soon, it can not only can it increase the overall value of your home, but it would go a long way to instilling confidence in the buyer that your home is in great shape. To get the most accurate information on the state of your roof, reach out to trusted local contractor, such as one backed by a national manufacturer like Owens Corning, who can provide you with a thorough report and analysis of the current state of your roof.