Resale Value & ROI
Let’s say that you’re looking to sell your home and you really want it to stand out to potential buyers, but you’re worried that any home improvement investment you make won’t achieve the desired goal. Well then, you’re in luck! Replacing your ten-year old roof with a brand new roof can be a major selling point for prospective buyers while simultaneously increasing appraisal value, hitting two birds with one stone.
A new roof typically costs between $5,000 and $31,000 (depending on the size of the roof), or around $5.00 to $9.00 per square foot. According to a survey conducted by Remodeling Magazine, you can generally expect to recover approximately 60 percent of the cost of installation through an increase in home and appraisal values.
Purchasing a new roof can also ensure that the value of your home doesn’t decrease unexpectedly in the future and remains a valued asset. According to Remodeling Magazine, a new roof can increase the worth of your home by around $12,000. Whereas, neglecting to install a roof in a timely manner can result in structural damage, potential safety risks, reduction in curb appeal and ultimately lower home appraisal values.
One of the most dreaded events for a homeowner to experience is an extreme weather event and the potential damage to your home left in its wake. Damage to your roof as a consequence of extreme weather events (deemed as “acts of God”) are typically covered by homeowners’ insurance if the roof was replaced under a twenty-year period since the last installment – but there are exceptions.
If your roof under the age of 20 suffers from major damage such as sagging or bald spots (an area of your roof devoid of shingles), your insurer may reduce coverage, or even deny it altogether, regardless of your roof being less than twenty years old. Although you should be informed by your insurer in the case of any lapse of coverage, it’s best to be proactive in the maintenance and replacement of your roof to avoid any potential complications down the road.
Insurers may also automatically assume there is structural damage “under the hood”, otherwise known as the roof deck, if your roof is 20 years old or more, and won’t cover damages from leaking if there is assumed negligence on the part of the homeowner.
- Granules of shingles (sand-like beads) collecting in gutters
- Damaged or missing shingles
- Torn flashing
- Sagging roof
- Blistering or cracking paint on ceilings
- Mold proliferation
Setting aside the detrimental effects these issues can have on your roof, such as potential structural damage or a proliferation or mold and mildew, this wear and tear may make your roof look dilapidated or unkempt – which is simply put, not a good look.
About Rapid Restore
Our mission at Rapid Restore is to provide a stress-free, refreshingly simple, world-class roof installation experience for our customers in Long Island, NY. We look forward to protecting you. With over 110+ 5 star reviews on Google, you can trust the expert roofing contractors at Rapid Restore to replace your roof on-time and within budget.
For a quick, no-obligation estimate on your next roofing project, fill out our estimate form!