Every part of a home and property delivers value. The property value is determined by several factors such as the age, maintenance, and aesthetic of different aspects of the house. The roof of a house is one of those aspects that can either make or break the value of a house. If you’re trying to sell your home, it’s important to figure out if the roof is in good shape to be able to figure out how much value it adds. Here are some things you should look at to figure that out.
Property’s Value: Functionality
The purpose of a roof is to protect everything that is underneath it. If it does not do that, it’s not very functional, is it? When picking a material for your roof, make sure you keep in mind the different hazards of your area that could impact the functionality of your roof, like frequent storms. Some materials absorb rainwater more than others, so if you live in a more storm-prone area, this is something you’ll definitely want to consider. Since the roof is difficult to reach, a homeowner may not be inclined to climb up there too often. Ensuring that professionals inspect it regularly prevents puddles from building up and hanging out over an extended period of time. Moisture weakens the material. In the worst-case scenario, it causes leaks that eventually cave.
A roof is an investment, so a seller has some decisions to make. If the decision is to leave the roof as is, the buyer may have to make those updates. A buyer is going to take that into consideration. They may subtract the cost of a new roof from the asking price. If all parties are in an agreement, then it is approved.
The type of material used for the roof of a home makes a difference. Sometimes, a homeowner or builder has to go with the most practical option due to budget constraints. In other cases, builders have to be practical due to the region of the property. Budget-friendly options that are also aesthetically pleasing do exist. Roof aesthetics add to the value of a property because it raises the property’s curb appeal. That’s one of the reasons stone-coated metal roofing is becoming more popular over regular metal roofing.
Stone-coated metal roofing includes tiles, trim, and nails. These types of roof materials cost less than slate and clay tiles. Stone-coated metal roofing is sold in shingle, tile, and shake varieties. Once you purchase the materials, the design possibilities are endless. One great thing about a roof constructed from stone-coated metal is that it requires little maintenance. Another benefit is that the look remains fresh for several years. The coating acts as a protective layer. Breaks, curbs and splits, as well as warping or water absorption, are less likely thanks to the durability. This material is known to stand well against extreme temperature changes in addition to wind, hail, and other elements.
Property’s Value: Age
Roofs last anywhere between 20 to 30 years. The average lifespan depends on the material. Some materials age better than others. The stone coated material is manufactured to stand up to the elements. Asphalt, wood, and metal are other materials that are durable. A seller should expect questions about the roof. The age is an important tidbit of information. A buyer is trying to figure out if the asking price is fair based on the condition of the property. If repairs are going to be required soon, a potential buyer may want to subtract those costs from the selling price.
The material a roof is made of causes the property’s value to fluctuate. There are materials manufactured specifically for durability while others are manufactured for their aesthetic appeal. There are also more affordable materials for your roof, but they may add less value to your home. A homeowner, therefore, has to decide the one that is going to meet their needs, budget, and property’s curb appeal best. Asphalt roofing shingles are light, inexpensive and easy to install. Slate is the most expensive that pairs well with historic homes. It comes down to a matter of taste, too.
Property’s Value: Technology
Technology plays a role in the value a roof provides to a property. Solar panels, for example, are a technology that some buyers and real estate professionals place a high value on still because it saves the homeowner energy cost and allows them to spend money in other areas of the home. In fact, if you want to use solar panels as a selling point for your home, you can use a solar panel calculator to estimate how much money they save you on energy. You can pass on this information to potential buyers. Green roofs have also become popular among some circles. High value is placed on roofs that can conserve water runoff or include reflective paint. There are also shingles that are energy-efficient rated.
Since climbing to the roof of a residence is not always an easy task, homeowners are encouraged to hire roofing professionals for the job. Regular maintenance prevents the buildup of moisture, mold, and pests. Consistent maintenance and inspections add value to a property because the homeowner is staying on top of its condition. Regular maintenance sets up a paper trail. That trail shows that it is being cared for so it can add to the property’s value.
Property’s Value: Warranty
Regular maintenance and a paper trail help maintain a roof’s warranty, too. This comes in handy when someone is trying to figure out if the asking price is fair. During a potential sale, having all the necessary paperwork makes the negotiating process simpler. It takes out the guessing. Warranties are also valuable, especially on large ticket items like a roof. People who are getting involved in a real estate transaction are trying to protect themselves and their assets. A paper trail is one way to accomplish that task.
A high-end roof can cost up to $25,000. A new roof automatically adds at least $12,000 of value to the property. This helps the resale value of a property. As mentioned earlier, a buyer will not necessarily be detracted from purchasing a home due to the condition of the roof. If the roof is not in top shape, they may simply ask for a reduction in the price.
The roof of a home is important. In order to help it add value to a property, regular maintenance is recommended. In the long run, it prevents unexpected and expensive repairs. Instead of expensive repairs, valuable upgrades can be made on the desired timeline.
If you want to figure out how much your home is worth, let us help you! We can give you a free, no-obligation CMA so you can get a good estimate of its value.
Steelbridge Realty LLC is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.