Moving to a new place and thinking of putting up your Palo Alto home for sale? If your existing roofing shows signs of stains, leaks, sagging, broken or missing shingles—anything that reduces its aesthetic and functional quality—you can have the damage repaired or the roofing replaced altogether. A brand new roof, along with other improvements, attracts potential buyers more easily, and increases its resale value, as well.
According to a joint housing study by Hanley Wood’s Housing Continuum Study and Harvard University, 30% to 40% of buyers of existing homes make improvements within six months after purchase. That’s for buyers who are willing to spend for renovation, but will settle for a lower buying price on the house. For most buyers, however, especially those who can afford other options and can pay more, a leaking roof is enough for them to look for a new house elsewhere. If you want to get more out of your housing investment when you’re ready to sell, one of the ways you can make it sell faster at a much better price is to replace your old roof with a new one.
Of all the home improvements you could do for increased resale value, why should new roofing be on the top of the list? An extensive survey conducted by the Remodeling Magazine reveals that a new roof raises a home’s resale value by a national average of $12,000. It reports further that homeowners who have new roofing installed can recover about 62.9% of the installation cost with the added home value. In terms of ROI, this data puts new roofing ahead of backup power generators and an additional bathroom in terms of value-added features.
A Palo Alto roofing expert emphasizes the importance of curb appeal to attract buyers. Observe your home’s exterior from afar. If you drive by slowly, does it look worth slowing down for? A brand new roof significantly enhances your home’s curb appeal because it’s just as prominent as the main frontal structure. Without curb appeal, you already lose the battle for finding the kind of buyers who are willing to pay more for your home. Moreover, if you put your house on the market with a shabby exterior, not only do you ward off prospective homebuyers, but you also alert building appraisers and inspectors.
A new roof can help your resale efforts by a mile. Quality replacement by a reliable Palo Alto roofing company like Shelton Roofing can help you maximize the value of your investment.
(Source: Which Home Improvements Pay Off? HGTV)
(Source: Increase Your Home’s Value with a New Roof, Home Advisor)