How Quality Roofing Help Increase Your Property's Market Value?
What are you likely to see whenever you look at a residential area from a distance? It is the roof. The roofing gives the house a first appearance, which maybe either pleasing, dull or not pleasing. In reality, property sell by looks.
When people lay their eyes on a quality roofing for instance, they are more likely to develop a keen interest in the house, if it is on sale, compared to when they consider the roofing old, or of poor quality.
Roofing, therefore, has a bearing on market value of homes. We will discuss five ways on how quality house roofing can help increase market value.
1) Increases Demand
A house with quality roofing is likely to attract many buyers or bidders. This is because everybody wants quality. High quality increases the general appeal of every product and is considered a selling feature.
Market forces naturally push the prices up whenever the demand is high. This is what economists call the law of demand and supply. A higher demand occasioned by quality roofing, therefore is likely to increase the market value of homes.
2) Higher Appraisal
Property appraisers are likely to give a house a higher market value in general if the roofing is of higher quality. This is because during appraisal, depreciation rate, which is generally lower with quality products, together with building costs, are factored. A written appraisal is usually a key requirement when a property is purchased, sold, leased out, insured or mortgaged.
The buyer or renter of a house is likely to put into consideration various factors such as the state of the kitchen, bathroom and toilet, ventilation system, floor and ceiling conditions, the state of the painting and the quality and status of the roof.
This is because one cannot occupy a house where any of the above is in poor shape and have to fix any mishaps before assuming ownership. The cost of such repairs is likely to reflect on their net bidding prices.
However, the buyer is not likely to consider repairing the roof or getting a new one if the current one is of top notch durable quality.
4) Home Energy Efficiency
It has been scientifically proven that warm air rises and is replaced by cold air. When this warm air escapes the house courtesy of a poor roofing quality, you are likely to spend more on home heating.
If the warm air is contained and conserved within the house due to quality roofing, the temperature is likely to be warm and you are likely to spend less on home heating. Buyers are likely to consider this before purchasing a new home.
5) Quick Sale
Since quality roofing attracts many buyers, they are likely to sell quickly. This reduces marketing fees and estate agent commissions, which are considered expenses. This is likely to increase the market returns to the seller.
In conclusion, everybody wants to live under a safe, secure roof that neither leaks, nor dampens. Nobody would wish to spend on roof repairs daily. Home developers are nowadays going for high quality roofing to increase market value of property. Quality roofing from a roofing contractor in Ann Arbor Michigan for instance, are not as high as many people fear.