Increasing the Value of Your Calgary Home with a New Roof
Can a new roof increase the value of your home in Calgary? Like many questions in the real estate and housing sector the short answer is, it depends. At Century Roofing Limited, we know that that a strong, durable residential or commercial roof comes from working with a good roofing contractor to ensure the job is done right the first time with quality materials, and a professional and efficient Calgary roofing contractor. At Century Roofing Limited we are that contractor, often called in to fix the mistakes made by a previous roofer, and it’s why we are the preferred roofing contractor of so many insurance companies in central and southern Alberta and eastern British Columbia.
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.