Whenever any homeowner prepares to sell a home, they typically have a budget for renovations. If you have a limited budget, you might have to choose between replacing a roof and spending money on staging, interior remodelling, and landscaping. Many roofing companies will offer a quote for a roof replacement. However, will they help you decide whether to hire roofing contractors to repair or replace your roof?
Calculate Your Return on Investment
Typically, a new roof will increase the sale price of the home by 60% of the roof’s cost. This means that if you spend $20,000 on a new roofing system, you could expect your home’s value to increase by about $12,000.
Compare Your Home to the Neighbourhood
When homebuyers see your home, they will naturally compare it to the houses around it. However, if the other homes in your area have aging roofs and yours rates better than average, you may have diminishing returns from your investment in a roof replacement.
A brand new roof surrounded by roofs in obvious need of repair might have a paradoxical effect, drawing attention to the neighbourhood and suggesting that the surrounding properties might drag down the home’s value even if the new owner invests in its upkeep.
Look at Your House’s Curb Appeal
Envision your home with a new, flawless roof. If the new roof highlights and complements changes that you have already made to your home, you might be able to profit from a synergistic effect. For example, you might choose shingles that match the colour of shutters, lawn decorations, or trees in the landscape. The roof could create a cohesive aesthetic impact when potential buyers arrive on the property.
Consider Upgrading to a more Energy-Efficient Roof System
Investigate the different types of roofing materials that roofing companies use. If your attic gets hot and stuffy, or if you have high energy bills in the summer, consider a metal roof to radiate heat or add additional insulation to the roof. A torch-on roof and metal roofs can have additional insulation added on top of the substrate before the new membrane is installed. This can be a great selling point.
Think About Your Timeline for Selling the House
A new roof can be a bargaining chip to get a quick sale. If your costs for keeping the house on the market are high, avoiding these costs might offset the cost of roof replacement. For example, if you plan to sell the house in the late summer or autumn, the new roof could save you the cost of several mortgage payments, winterization, and landscaping.
Discuss the Question With Your Realtor
A realtor who knows your area can help you get a clearer picture of the costs and benefits of replacing your roof. They will be able to tell you whether nearby homes with new roofs sell well in your neighbourhood.
Have a Professional Roof Inspection
You stand a better chance to benefit from replacing your roof if your roof is in a state of disrepair. Not sure if your roof is in good shape? Hire one of the roofing companies near you to inspect your roof. In turn, this can help you avoid surprises when a buyer wants a private inspection.
Problems could arise if you wait until the house lists on the market, including:
- Buyers might reduce their asking price to account for how much they expect to pay for a new roof
- Problems might become known while the house sits on the market, resulting in delays
- You might miss an opportunity to optimize your roof replacement
If you have your roof professionally assessed, be sure to talk with the roofing expert about any problems. If you want to know about different styles of replacement roofs, discuss the implications of each of your roofing options for the longevity, marketability, and energy efficiency of the roof.
Expert Roofing Inspection and Replacement by Canuck Roofing in Burnaby, BC
We want every member of the Burnaby community to have a clear understanding of their home’s value. We stand out from other roofing companies through our TRUE PRECISION process which upholds our core values of transparency, quality, and respect. To speak with an experienced Canuck Roofing Ltd. roofer about residential or commercial roof maintenance, call (604) 670-8065 today.