Getting a New Roof Easily Pays for Itself
Probably one of the most commonly used words when homeowners find out they need to replace their roof is, “yuck.” We know, a new roof likely won’t increase your quality of living the way a new hot tub would, give you expanded living space like a new deck would, or even increase your curb appeal how a siding makeover could. But…getting a new roof could believe it or not actually save you the money – and pay for itself – so that those other projects could be conceivable sooner rather than later.
Most homeowners look at a new roof installation projects as a “have to” instead of a “want to” renovation. That’s perfectly alright because replacing a roof before its lifespan is up is a waste – of the environment, of labor, of finances, and more. However – when your roof has met its end of days it’s important not to look at the project as an unnecessary financial burden, but as a way to actually make money.
Your New Roof IS a Fancy Project
Are you going to be able to physically enjoy your new roof by climbing up and down on it every day and enjoying a picnic up there on the weekends – probably not. But there are ways your roof is going to pay you back both in unmeasurable ROI as well as in black and white.
The Unmeasurable Benefits of a Roof
First off a new roof is going to improve the comfort of your home. Foremost the enjoyment of NOT having to step through puddles of water leaks on the floor or endure the stains that damage your furniture, floor, ceiling – and bring with them mold.
Believe it or not a new roof will also help regulate the temperature inside your home. Even if you’re staying with shingles as a replacement for the roof that is currently on, the modern products absorb less heat which helps to create a more relaxing home environment. Getting rid of leaks and air gaps in the roof and surrounding areas such as soffit also helps improve the comfort of the home from air loss in the Winter. Upgrading ventilation while installing a new roof also aids in preventing mold growth which improves the indoor air quality of the property.
How a Roof Pays You Back in Black and White
Real estate agents are obviously more likely to push an open concept kitchen or a master bedroom with a walk-in closet as a way to sell a home instead of saying, “check out that roof”, but it doesn’t mean the feature is not important. A new roof can increase the home’s value by an average of about $12,000. At the very least, what a professionally installed roof with longevity does is NOT knock $12,000 of your home’s asking price because the new buyer needs it repaired.
Another financial benefit of roof renovations is the increased curb appeal. Nobody said roofs had to be the standard asphalt shingles that once adorned 80% of the homes in North America. Instead cedar shakes, tiling, metal roofs, and more create a unique look that improves the style of your home. If anything, the added curb appeal from your stylish roof could be what attracts a ‘drive-by buyer’ to come in and see the open concept kitchen or walk-in master bedroom closet that gets you the sale.
Nobody wants to wait until they sell their home to start recouping the financial benefits of any home improvement project. As long as you increase the energy efficiency, you can recoup tremendously with a new roof. The best way according to Cornerstone Roofing Company is to switch the kind of roof you have installed. What they’re saying is that basically a metal roof that reflects the sun instead of an asphalt shingle that absorbs it is going to save you 40% or more in cooling costs. Any modern products however are usually more energy efficient than their predecessors and will cut down on utility bills at least a bit – another thing potential buyers are going to be savvy about.
A new roof pays for itself in a kind of hidden manner as well. Say that you’ve upgraded and now your home retains more cooled air and absorbs less heat because of better insulating properties. This means your furnace and AC will cycle less, and not have to work as hard. Corresponding parts and components of the HVAC system won’t have to overcompensate so not only are your utility bills lower, but so is your furnace and AC repair costs. It’s not a stretch to say that a new roof can legitimately extend the lifespan of your HVAC system 5 years? 10 years? The roof virtually pays for itself in that regard alone.
Don’t Put Off a New Roof Installation
So after you’ve installed a new roof you’ve got a home that:
- No longer leaks water
- Is more comfortable temperature wise
- Is aesthetically pleasing from the outside to attract buyers
- Will not cost you deductions for repairs at sale time
- Cuts down on your utility bills
- Improves the air quality in your home
- Reduces wear and increases life span on your furnace and AC
…in a nutshell it may not be a hot tub, but a new roof increases your quality of living in a lot more ways than a soak does.