Increasing the Value of Your Calgary Home with a New Roof
When it comes to value or what business professionals call return on investment (ROI) there are a number of things you can do when it comes to your home, beginning with by paying off your mortgage. As an asset you own, you also have a financial stake in maintaining your home and investing in capital improvements that can also add value to your home, like a new roof. This ROI can vary based on a number of factors:
• the condition of the old roof it replaces, the more dramatic the upgrades the greater increase to the appraised value of a home;
• will help assuage fears of water damage, ice dams, squirrel infestation, and other home disasters that can result from an old, shoddy roof;
• a new roof that has adequate insulation can add value to your home is by improving the house’s energy efficiency;
• roofs that add architectural interest enhancing value more than traditional roofs that may cost less; and
• a new roof that includes solar panels provides you with free, renewable source electricity and may make your home even more attractive to the right buyer.
The value of a new roof on your home can vary widely. An ISoldMyHouse.com report suggests a ROI of 75 percent on a new asphalt shingle roof. According to 2014 statistics collected by Remodeling Magazine, upgrading to a standing seam metal roof offers a 63 percent ROI. The statistics show a 67.6 percent ROI for homeowners who install new 25-year minimum roofing shingles. This statistic puts new roofing ahead of building a bathroom addition in terms of ROI. Other reasons for installing new roof include:
• Improved resale - cost vs. value surveys suggest a new roof increases home value. A roof in poor condition can stop a home sale dead in its tracks.
• Appearance - new architectural-grade roofing provide for texture and color options that are truly amazing.
• Warranties - premium-quality roofing materials today offer warranties as long as 50 years.
• Technology - some types of roofing have an ENERGY STAR® rating because they are designed to reflect solar heat, thereby reducing cooling costs.
A new roof is a big investment and you should take the time to find a trustworthy contractor to complete the job – like Century Roofing Limited. If you have questions about roof maintenance, repairs, or replacement, contact Century Roofing Limited at 403-235-5457 today to plan your next project and get a free estimate.