Is a New Roof Worth the Return on Investment?

If you’re considering selling your home, you may be wondering what you can do to increase its value while still making it a profitable venture for you. While new carpeting, appliances and landscaping can improve your bottom line, they aren’t going to be as great a draw as other improvements, such as remodeling or a new roof.

Should You Invest in a New Roof?

This can be a tricky question to answer, but in the majority of cases, the answer is yes. If you’re planning on selling your home, you have a better chance of receiving the offer you want if the most important parts of your house have recently been updated. Considering the roof protects the rest of the home from the elements, it may just be the key to getting that offer you’ve been hoping for.

When deciding whether you should replace your home’s roof prior to listing it on the market, you may want to ask yourself these questions:

  • Is the roof in need of repair right now?
  • How old is it?
  • If it was replaced in the last decade, is there still a warranty on it?
  • What would be your return on investment if you replaced it?

Some Reasons to Consider a New Roof

Depending on your answers to the questions above, you may be thinking it is time to have your home’s roof replaced. For instance, if your roof is older (depending on what part of the country you live in, the style of roof, etc.), it may be a wise choice to go ahead and have it replaced.

Older, weathered roofing materials have a much higher rate of failure, which may make or break the deal with it comes to inspection time. It can also put you in the position of having to pay for repairs or replacement out of pocket to make the deal go through.

According to an article in Realtor Magazine, replacing the roof will give you the most bang for your buck and you can expect to see a 105 percent return on your investment. That’s like receiving most of your selling agent’s fee back!

If you’re considering selling your home, give Mimms Roofing and Water Restoration Services a call at 931-378-6092. They can provide you with the information you need to make the right decision for repairing or replacing your roof — a decision that might just put you even further into the black!