As it relates to a home, the phrase “roof over your head” usually calls to mind thoughts of comfort, protection, and physical security. But it can also reflect another type of security—the financial kind.
As long as a roof keeps rain out and isn’t riddled with holes from the latest hailstorm, let’s face it, the roof is often taken for granted. And nothing feels more like a punch to the gut than hearing a home inspector say, “You need a new roof.” A new roof is a cash outlay that might not sound like much fun, but when you discover what it can do to your home’s value, you may change your mind about replacing your roof.
Why We Invest In Our Homes
Homeowners invest money in their homes for one of two reasons: to improve home enjoyment or to increase its value. And regarding the latter, a new report from the National Association of Realtors and the National Association of the Remodeling Industry (NARI) finds that a new roof is the best overall investment, interior or exterior.
Their study looked at 12 interior and 8 exterior projects, and gauged the highest ratings in 3 different categories:
– projects with the greatest cost recovery,
– those that bring them the greatest joy, and
– projects that appeal to buyers.
Know what was the ultimate project winner? That’s right, a new roof. And a new roof is the ONLY investment that recovers over 100% of its original cost! That’s a profitable return on your roof investment—the only kind of investment you want.
Profitable Return on your Roof Investment
A new roof was the runaway winner when it comes to greatest cost recovery and projects that appeal to buyers. There was only one category that a new roof did not win. As you might have guessed, it didn’t win for “project that brings a homeowner the greatest joy.” Again, the roof can often be taken for granted…but it shouldn’t! Consider the joy a new roof will mean now that you know it recovers MORE than its original cost.
When you hear “investment options,” a financial advisor probably comes to mind. Now you can include a roofing company in the investment category. So if you’re looking for a profitable return on your roof investment, think of Rebuild Texas as a financial advisor, of sorts—they can give you sound roof investment advice, and even offer free, no-obligation roof evaluations.