There are many reasons why you may want to increase the value of your home. Here are just a few:
- Investing – Buy low, sell high. Purchase the worst house on the best street and then renovate it and re-sell at a good profit.
- Refinancing – Wanting to unlock equity in the home to spend on other things. One way to do that is increase the value of the asset and get the bank to re-value the home.
- Selling – It’s come time to sell and the house is tired and run-down, you need a quick easy face-lift to add value to the home to get a better sale price.
Whatever the reason, starting with the roof is always a good move to increase the value of the home.
Why is street appeal so important to the home valuation?
The street appeal of a home usually ranks at the top of recommendations when sellers are completing home improvements. Sure other home improvements will add appeal and value to your home like renovated kitchens, bathrooms and decks, but nothing gives that initial wow factor like a newly restored roof. You need to get the potential buyers to want to look inside the home first, and street appeal does just that! A fresh roof will add that street appeal and have the biggest impact on the largest number of potential buyers.
Why does a roof restoration make such a difference to the potential value of a home?
Not every potential buyer will see your new deck addition or renovated bathroom or kitchen, and these features may not be a high priority for every person. Polish the crown of the home (the roof) and people take notice.
If your house looks great from the outside, then a lot more people will want to check out the inside as well. This opens the home to more potential buyers and inspections. The more people that you show through the home, then you obviously have a better chance of receiving more offers on the home. More competition can also lead to a better asking price or bidding war if auctioned.
Replacing the roof of a home is a major home improvement expense. The average home buyer wants to avoid hassles if possible. Potential buyers may not even view your home if the roof and guttering looks old and tired as they will not want to deal with a potentially expensive roof issue down the track. Disclosing identified problems with the home to a potential buyer is important. Roofing problems are commonplace, but buyers are likely to ask for a discount on the price or for the repairs be completed if problems exist.
Increase your final selling price
Preparation is the key to get the price you want for your home. Try to address the key areas that would be of concern to potential buyers. Most buyers want an easy home that is ready to just move into.
Improving the home exterior and surrounding landscaping can add thousands of dollars to the final selling price.
- Street appeal makes a huge first impression on the potential buyer. Improve the landscaping – prune and trim shrubs and bushes, weed lawns and garden beds, ensure the lawn looks great. All these things can be done by yourself. It is time well invested and you will see the rewards when negotiating the final selling price.
- Clean the exterior of the home. The appearance of the home plays a critical part in whether it will sell and the final price. If the home looks tired and run-down on the outside, buyers may perceive the same for the interior of the home. Pressure wash exterior walls, touch up around windows.
- Painting and restoring the roof is the one biggest things you can do to the exterior of the home. Over the years a roof will start to look ugly, dated and drab. It doesn’t matter whether you choose to keep the same colours or go with something completely different to modernise the look. Not only does the roof protect the home, it is also a very big selling point.
- De-clutter the interior of the home. The old saying “less is more” is very true when it comes to selling the family home. Rooms will look more spacious. Remove any personal things or extra furniture as this will allow the potential buyers to visualise their own furniture in their new home.
- Shine it up! Clean, polish and dust your counter tops, windows, mirrors and the lights and ceiling fans. Add a fresh coat of paint on the interior walls, it is a very cheap way to brighten the rooms.
If you would like to discuss improving the value of your home through a roof restoration (and you live in Brisbane north to the Sunshine Coast or Brisbane South to Logan and Brisbane Bayside or Redlands) contact us at Bayside Roofing for all your repair, restoration and roof painting needs. We also have a roof maintenance service so we can check your roof on a regular basis.