Deciding whether or not you need a new roof can be difficult for any homeowner. Deciding on whether or not this new roof is a good investment is an even harder task. In short, a new roof is usually considered a good investment. Below, we’re going to discuss the reasons why it is, as well as the general cost of a new roof.
You Can Limit the Consequences of an Old Roof
When you have an older roof, a number of different problems will arise. Your roof will be susceptible to the usual wear and tear, as well as the following issues.
When your gutters fail, a serious threat is posed to the overall structure of your home. Your gutters can fail for a number of reasons; however, the most common you’ll find is that your gutters have too much weight being placed on them. When weight collects in your gutters, your gutter joints will have difficulty holding it. Over time, your gutter joints will weaken and, eventually, they will fail.
Once one of your gutters fails, it is likely that the rest of them will fail as well. That’s because the pressure being held up from one gutter joint is placed upon the remaining joints, which cannot hold the extra pressure. Once all of your gutters have failed, your home is left vulnerable.
This is another complication of having an old roof. When your roof is subjected to wear and tear, you’ll experience an increase in damages. It’s natural that during extreme weather, your roof will be struck by objects like branches. The old your roof, the more likely it is that it will have scratches, broken tiles, or more.
When your roof is damaged, it’s more likely that things like rain will cause the structure of your roof to become compromised.
Leaks and Floods
We already talked to you about gutter and roof failure. These complications are actually precursors to other complications with your roof. When your roof is damaged or when your gutters fail, this will cause an excess amount of water to collect on your roof. Over time, this water will seep through the underlying structure of the roof and into your home. You can then experience things like chimney failure, floods, and leaks.
Once your home experiences a leak, you’ll go through a number of complications. For one thing, you might not realize you have a leak in your home for days or weeks. If this is the case, you can have severe water damage. Even worse, mold will collect in your home and you can experience health complications. Things like asthma or respiratory illness will be experienced by those affected by the mold.
Why is it a Good Investment?
We told you about the complications of having an old roof. That’s because your home and your health can be compromised when you don’t have your roof replaced. Still, why would this mean your roof is a good investment?
The answer is simple: replacing your roof is a long-term investment. If you’re not planning to sell your home anytime soon, this roof will serve you for decades in the future. All of the aforementioned complications can cost you thousands of dollars, especially if multiple problems arise at once. The simple solution to this is replacing your roof and while it might cost you a significant amount of money initially, it will save you money in the long-run. Even if you don’t replace your roof right away, you’ll have several complications and you’ll need to have your roof replaced anyway.
If you are planning to sell your home, however, you’re even more in luck. That’s because having a new roof can allow you to demand a higher asking price. When a roof needs to be repaired, it provides buyers with the opportunity to demand less money. Investing in a new roof will also ensure that you get a significant amount of money back. According to statistics, you’ll be able to recover 70% of every dollar you spend to have your roof replaced. While this might not seem in a particularly smart investment to make, it can also cause your home’s value to increase.
With a new roof, your home can increase in value by up to 6%. You should keep in mind, however, that this depends entirely on how long it had been since you got your roof replaced before putting it on the market. It also depends on which materials you’re using to replace your roof. At the very least, you can see an increase of 1% when you have your roof replaced. This might not seem too much at first; however, it certainly adds up over time.
A common debate among homeowners is whether they should have their roof replaced or not. This, of course, will depend on your individual needs and desired. Over time, you should know that you might end up experiencing added complications due to an old roof. To avoid these complications and to save money in the long run, you should consider replacing your roof. You should also replace it if you want to sell later. If you have any questions about your home, roofs, or real estate investment, let us know today! We love to hear about all inquiries and we’ll be sure to address them in our next blog post.