Families selling their homes in the greater Indianapolis area including Zionsville, Carmel, and Brownsburg are often confused about their new roof’s value in the market. They assume that their home with the new roof is worth more than the one just sold down the street with the older roof.
Often they are disappointed to hear me say that the reality is their new roof really has not added any monetary value to the home. The fact of the matter is, every home in the neighborhood has a roof, and as long as it is not leaking, then it’s a good roof. Older yes, but not necessarily bad.
What that new roof does do is increase your home’s perceived value. The new roof puts you in a better position to sell your home quicker because it gives confidence to a buyer that they will not have to spend money for a new roof in the near future.
So my advice is don’t assume you’re going to get your money back on a new roof. Instead, expect that a new roof will help your home to sell quicker. Make sure your agent markets your home’s new roof effectively – even consider a sign rider on your for sale sign that on that says “new roof”.
Understanding this as well as other facts about your home’s resale value will help you make the right decisions as you prepare to list your home.