Does a New Roof Add Value to a House?
A new roof will not so much add value to a house, but keep it from losing value, says All of Austin Realty on Zillow. It will maintain the current market price, sell faster should it be listed, become more appealing and pass inspections. A roof can be costly, but without maintaining it, the damage could be a lot more expensive.
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Sells Faster
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Because replacing a roof costs several thousand dollars, having it already done within the past few years looks great to a buyer. It assures a buyer there will most likely be no leaks or issues with the ceilings and roof. However, buyers should always have an inspection done.
Curb Appeal
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A new roof adds curb appeal because for one, it looks nice. Some roofs are different colors and one will stand out more if it isn't the same as the rest of the roofs in the neighborhood. A new roof versus a roof that has missing shingles seems more approachable and welcoming. It makes a home look newer.
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Maintenance
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Getting a new roof is part of maintaining a home. Whether to replace a roof really depends on if there is a warranty on the roof from the contractors, storm wear and tear and the type of material. Some roofs may last more than 15 years while others only a few due to unfortunate weather such as a nasty hail storm.
Appraisals
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In an appraisal for a buyer looking into moving into a new home, a possible seller thinking of listing or for a mortgage refinance, a recently added new roof will score major brownie points in regard to the condition but not the actual value. Sometimes appraisers require that a roof be replaced if it does not meet up to their standards. Appraisers also check attics to see if there are any leaks from the roof or structural damage.
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- Photo Credit Roof image by Mohd Haka Khambali from Fotolia.com
