Home improvement projects are the bane of a homeowner’s existence. They are often likely pressing, time-consuming, and expensive. While roofs tend to last for several decades, eventually, they age and must be replaced. While there are up-front out-of-pocket costs, it is also a property investment that has one of the highest home improvement returns on your investment.
Anytime you perform a home improvement project, it costs more up-front, but it pays long-term dividends that increase your lifetime savings. Here are a few good reasons to replace your roof.
- A replacement increases the value of a home by 109% since the average investment for a roof is $7500 but is valued at $8150. You recoup any of your out-of-pocket expenses.
- A third of real estate agents site a new roof as the primary factor that helps close a home sale. Not only do potential homeowners look for these perks, but they won’t worry about having to save up thousands of dollars soon after moving into their new residence.
- The average homeowner spends an average of $650 each year for a leaky roof repair, so let’s crunch these numbers. A roof has a lifespan of twenty-five years (more for quality-grade materials and protectants). Over twenty-five years, a homeowner spends $16,250. Adding a new roof would save you $8750 in leaky repairs. Even if you budget $5000 for 25 years of maintenance checks, you will still save $3750 over a new roof’s lifetime.
- A new roof also increases your property value along with projects like hardwood flooring, vinyl windows, siding, and garage doors. If you are looking to put your home on the market, these are the home improvement projects that get you premium pay-outs.
- A new roof and gutter will restore your drainage and ensure you are leak free for decades to come which means that instead of major repairs, you only need to budget for upkeep.
- Your roof’s warranty will protect your investment, so if you suffer damage from defects, you will not have to pay out-of-pocket for the repairs as long as experts install it.
- Although a leaky roof is one of the most common reasons that homeowners file for insurance claims, they get denials for reasons such as neglect, wear-and-tear, mold, settlement, or rodents. This means that you will be paying out-of-pocket to repair your roof, the wall insulation damaged, and the replacement of your personal possessions. Even if it does cover your policy, your insurance will likely go up to recover costs.
- A roof replacement protects your material possessions inside the home from being damaged. While an insurance carrier may cover these losses, there is a possibility that poor maintenance or failure to adhere to warranty guidelines will leave you paying it. Imagine the cost of replacing one room’s flooring, wall insulation, and décor which the Qualified Remodeler cites is $20,000. When compared to a roof cost, it equals savings.
Whether you are ready to replace your roof or want maintenance to extend its lifespan expectancy, give us a call at (978) 977-3816 or send us a message on our Facebook page.