Sylvania Roofing: Article About New Roof Return On Investment
Anyone thinking about a new roof from a Sylvania roofing company is naturally worried about the return on investment. It's a big investment, and there can be benefits for both the current owner and any future owners. While specifics will vary based on location and other comparable homes on the market, spending the money to replace a roof at the end of its life cycle is probably a smart move to ensure a higher selling price.
Homeowners who get a new roof generally earn back about 60 to 75 percent of the money spent. That may not seem like a lot, but the ROI is comparable to other types of home improvement projects. There are other less tangible returns to be considered, however.
For example, replacing a roof that's in obvious disrepair adds a lot of curb appeal to the home and can cause the home to sell more quickly. This is especially true if other homes in the area are in pristine condition. Homebuyers understand that a roof replacement can be a big cost, so few people want to purchase a house only to have to make such a major investment soon after the purchase.
Upgraded roofing choices, such as solar shingles or metal roofing systems, can also add appeal to buyers.
The expert roofers at Johnson Construction of Sylvania OH can assist you with any questions regarding roof repair or residential roofing.
Both products are environmentally friendly, a fact that can appeal to the modern shoppers. However, if there are no other homes like this in the area, the higher cost expectations on part of the homeowner may not align with the potential buyers in the area. In those cases, the return on investment might be lower than expected.
In some cases, not making repairs to the roof can hold up the financing of the sale or cause the sale to fall through. In general, banks prefer to finance homes that are in good condition, and if the roof comes up as an issue in the home inspection, the bank may require a new roof as a condition of the mortgage. For some homebuyers, this won't be a problem, but if the buyer can't afford this expense in addition to the closing costs and down payment, he or she may choose a different property to purchase.
Of course, each homeowner has to come to a decision about whether or not replacing the roof is going to be worth the investment, but it's important to remember that some of the benefits go beyond money.