Many people often make the mistake of thinking that your roof is not an important consideration when it comes to valuing a home. This is totally false!! Your roof not only protects your home and everything inside but is also one of the largest and most obvious features that people see when they look at a home. So, the question is how much does your roof impact on the value of your home and what investments should you be making in it to ensure it holds its value?
1 – Curb Appeal
Curb appeal is one of the largest considerations when it comes to valuing a home. First impressions of your home can be the critical deciding factor as to whether someone places an offer on your home. As James Brooks of LJ Hooker Casino states “Vendors should ensure their homes façade is clean, welcoming and importantly, the reality matches the photos” (Paterson, 2017). The roof is one of first things people see when looking at your home! A new roof is often not needed to update the look of your home. A coat of fresh paint on your roof can do wonders to the look and feel of a home. A restoration will be much more cost effective than a brand-new roof and will add $$$ to the value of your home. However, if your roof needs replacement this will be a sound investment whether or not you are planning to sell the house.
2- Roof Condition
As previously mentioned, your roof is the only thing protecting your home and everything in it, so if your roof is in bad condition this is going to attract below-market offers as potential buyers know they will need to rectify this themselves. Keeping your roof well maintained may not be as expensive as you think and will actually save you (or make you) money in the long run. The main issues to look out for are cracked pointing, broken tiles, existing roof leaks, rust or mould spores/lichen. All these issues are easily rectifiable and not only extend the life of your roof but also boost the value of your property if in good condition.
3 – Energy Efficiency
Energy efficient roofing is also becoming a growing factor that more and more home buyers are considering. People are not only wary of the increasing cost of energy in Australia but are also taking conscious steps to reduce their carbon footprint. By offering a home with a roof that is well insulated, uses electricity free ventilators (e.g. solar vents or whirlybirds) or has a heat reflective coating may actually be very enticing to many potential home owners!
It is important to note that a new roof will not always provide you with the best return on investment, especially if the roof is in relatively good condition already! Concrete tiles have a minimum life span of 20 years and terracotta tiles have a minimum life span of 50 years, but often last much longer. It is important to talk to a roofing professional to consider what option will be best for you and your home and get you the most bang for your buck!
So, the big question is, how much will a roof restoration or a new roof add to the value of my home? The answer is, it depends! It’s very hard to say EXACTLY how much you can expect these improvements to add to your home. This is because it depends on so many variables including:
- Condition of roof it is replacing
- The condition of the current roof if only restoring it
- Higher priced homes will gain more value from a roof in good condition as buyers will expect a more expensive home to be move in ready
- Style of the new roof/ new colours chosen
To give a rough indication some data suggests a new roof can add around 10-15% to the value of your property, but it is best to contact a professional who can take into consideration all the factors of your home and give you an accurate figure.
If you are thinking of selling your home or are just wanting to maintain your current home, contact Brisbane Roofing Solutions today to provide you with a free quote! We can help with everything from a new roof to painting to a simple repair!