You can do many things to add value to your home. For example, a new driveway or a well-manicured lawn can add curb appeal while boosting your property’s value.
However, one renovation that often gets overlooked is a new roof. A new roof can provide an impressive ROI.
Curb Appeal
Regarding the value of your property, curb appeal plays a significant role. A beautiful, well-maintained roof enhances the aesthetic of your home from the street and helps to create a great first impression for potential buyers. When you choose a roof with the right style and pitch that complements the architecture of your home, it communicates to prospective buyers that your home is well-maintained and in good condition.
A professional roofing service can help you select the best color and design to complement your property’s appearance. They can also add upgraded features to make your home more energy-efficient and sustainable. These features are attractive to eco-conscious buyers and can boost the overall value of your home. In addition, a quality roof protects your investment from the elements, another factor in boosting curb appeal.
Tenant Retention
Regarding rental properties, tenant retention is a significant priority for landlords. This is because it’s typically five times cheaper to keep current tenants than it is to find new ones and because it prevents costly repair expenses that can occur when a space is unoccupied.
Regular maintenance, like the hot asphalt Elmhurst IL, on your rental property’s roof, is one way to improve your tenant retention rate. This shows that you care about your tenants’ comfort and safety, which is a significant factor in their decision to renew their lease or recommend the dwelling to friends and family.
However, it’s essential always to let tenants know when you’ll be performing maintenance on their property. This gives them time to make other arrangements if necessary.
Energy Efficiency
Roofing contractors can install roofs that enhance energy efficiency. This reduces a building’s reliance on HVAC systems and helps owners save money on utility costs.
A roof’s insulation levels and material significantly affect its energy-saving capabilities. The type of shingles used will also impact a home’s ability to reflect solar heat.
When it comes time to sell, a new roof will boost a home’s value. However, there are better ways to recoup your investment. Homeowners should check with local real estate agents to get accurate information about the resale value of a roof in their specific area.
Longevity
A roof is one of the longest-lasting home improvements. It protects everything inside, including people, possessions, and valuable data from weather conditions like rain, hail, sleet, snow, and high winds. Many homeowners believe investing in a new roof immediately increases their home value. This is only sometimes the case, though.
The ROI on a new roof depends on the roofing material type and location. According to Remodeling Magazine’s “Cost vs. Value Report,” homeowners in South Dakota see a 78% return on their investment when they install a new asphalt shingle roof. This is higher than the average ROI of popular home renovations such as a backyard patio or a mid-range bathroom remodel. However, these other projects may require a larger budget, so it’s essential to weigh your options carefully.
Reduced Repair Expenses
A new roof protects your home from rain, wind, sleet, snow, and hail. It also helps control your energy bills by insulating your house from the sun’s heat and cold air.
Roofing services may also include gutter cleaning to prevent clogging that can lead to flooding in your crawlspace or basement. The team can inspect your roof to identify any other issues and recommend repair services.
Although you won’t get a 100% return on your investment when selling your home, investing in a roof replacement is a good idea. It’s less risky than other home renovation projects and will keep your home in tip-top condition for years. Talk to a local roofing company for advice on the best type of roof for your home.