When it comes to making any major home improvement, it is important to consider the implications on the cost of your home in the future. Sure enough, your home should be seen as an asset, and as with any asset, should be invested in appropriately. A big mistake that many homeowners make is carrying out major home improvements without any consideration on the cost outlay vs the anticipated return on investment. Here at roofers Nottingham, we want to break down the cost to benefit analysis of having a new roof on your property, as what may seem like an expensive renovation, can bring much larger returns on investment.
One of the main factors to consider when having a new roof is the longevity it will provide your property with. A poor roof that is in a state of disrepair will eventually lead to leaks and early building degradation. This can cause you a lot of money (and headache) to put right. In addition, you may think that you are saving by not having your roof replaced, however when it comes to selling a property, vendors often must reduce their asking price due to the homebuyer’s survey picking up issues with the roof.
Research also suggests that roof replacements offer one of the best returns on investment of any other home improvement measures. Surveys suggest that roofs can provide over 60% return on investment, whereas other common improvements such as kitchen and loft conversions only achieve up to a 50% return.
Another often overlooked factor is the aesthetic appeal that a new roof will add to your property. A great first impression will make your home more desirable to potential future buyers, which will lead to a much quicker sale.
With the rising cost of roof materials, it is prudent to consider that a new roof today will likely cost a lot more 10 years down the line, and a roof that is installed correctly will last much longer than that! Also, rising energy prices mean that it is more important than ever to ensure your home is performing as efficiently as possible. A new roof with upgraded insulation will help to improve the thermal performance of your home, leading to lower energy bills. Throw solar panels into the mix and you have a real high chance of seeing a marked improvement in your energy costs.
How to ensure you get the most bang for your buck?
So now that it is clear that a new roof can be an excellent way to add value onto your home, what measures can you take to ensure you get the maximum return on investment?
Firstly, it is important to carefully consider your selection of materials. Higher quality materials will last longer and if you get the colour of your tiles right, this will really make your property stand out. Incorporating modern materials will also help to add the greatest value to your roof. For example, using single ply membranes on flat roofs as opposed to traditional felts is a great way to do this and incorporating solar panels onto your roof can also be a real selling point. If you are unsure, do not hesitate to ask one of our roofers in Nottingham for advice on the right type of materials for your property.
The initial cost of the roof will also play a big factor in your return on investment. A more expensive roof will make it more difficult to recoup the outlay, so be sure to get a competitive quote.
Finally, always utilise a reputable, professional roofing company to carry out your roof replacement. Poor workmanship will shorten the lifecycle of your roof and will be noticeable to potential buyers.
To make sure that your new roof becomes a valuable investment for your property, contact roofers Nottingham who will be able to take you through the process from start to finish!
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