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5 Reasons Roof Replacement Makes Your Home More Marketable

5 Reasons Roof Replacement Makes Your Home More Marketable
Roofing

There’s an ongoing debate within the real estate industry about the wisdom of installing a new roof on a home in order to help it sell. I can attest to the fact that the majority of things that can go wrong in a home start with roof problems! An old, worn-out roof is deferred maintenance and signals to buyers that a home may not be well cared-for.
 


According to the 2015 Remodeling Magazine “Cost vs. Value Report,” Americans will recoup an average 71.6% of the cost to replace a roof when they sell their home (interestingly, roof replacement was also one of only five home improvements to see a rise in return over 2014). However, Consumer Reports reports that 31% of real estate professionals believe the roof is one of a home’s most important selling points. That’s because of the effect an older roof has on the buyer:  a damaged or worn-out roof may turn prospective buyers away. Here’s more about how this issue could hurt you, the seller.

  • Old or damaged roofs detract from the value of a home. If the roof is worn-out, the loss in value is the replacement cost of the roof, plus the inconvenience.
  • A roof at the end of its life or nearing the end of its life will cost a prospective buyer more to insure. They may not even qualify for homeowner’s insurance without paying out more money for a roof inspection.
  • Once you hit the 15-year mark on an asphalt shingle roof, FHA and VA financing may not be an option for buyers until the roof is replaced. This narrows the pool of buyers to only those who are paying by cash or conventional loan.
  • If you are selling a house that needs a new roof, it gives the buyer a reason to bring the asking price down – possibly more than it would have cost to put a new roof on.
  • The consequences of delaying roof replacement could be pricey, including mold, mildew, and ruined walls and ceilings.

When buyers shop for a home, nearly all are looking for a turnkey property that does not require any major investments in the first five years. A new roof can make your home more pleasing to potential buyers, and help you stay competitive in the market.

For questions or to schedule an inspection of your Newport News roofing, call The Roofing Company today at (757)-867-6600. For more than 15 years, we have been the leading choice for expert roofing in Newport News, VA, Hampton Roads and the Virginia Peninsula region.
 

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FAQ

Frequently Asked Questions About TPO Roofing

Frequently Asked Questions About TPO Roofing

As fall starts, many homeowners are calling roofers in Chesapeake for roof inspection, repair, or replacement.

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