VIDEO TRANSCRIPT

Are you a homeowner who maybe needs to replace your roof, perhaps because of a hailstorm or maybe the roof is just at the end of its life. And you're wondering, how is this going to affect my property value is my home's value going to increase after I've put this expensive roof on? Well, that is a very good question. 

And unfortunately, the answer is no, it's not really going to increase your home's value. Now there's mixed information about this out on the internet. So if you were to look at the remodeling costs versus value report for 2022, it would indicate that you should see more than a 50% value increase to your property.

But that's not really figured in during the appraisal process, as far as setting the price for your house, at least not in the Des Moines area to the best of my knowledge anyway. And so how that works is if you have to get a new roof, well, the roof is sort of considered like a normal maintenance thing.

Buyers expect your home to have a roof that works. I know the nerve, but it's just one of those things that if you have a brand new roof, you're not necessarily going to get eight, nine, $10,000 more for your house, it will certainly help you have an advantage over a similar house on the market that does not have a brand new roof, but if you list your house for sale and the roof is bad and needs to be replaced well.

A buyer is probably going to take that into consideration and that may be reflected in their offer price, or it might be an issue that needs to be addressed during home inspection, but a new roof doesn't really increase the value of your home. It can make your property more competitive when it is up for sale.

It's unfortunately one of those joys of home ownership, where it lasts for a really long time. And then it's a maintenance issue where it is just expected that the roof is going to continue working. So if it's brand new, it doesn't really increase the value if it is old and in need of replacement. Cause an old roof is not necessarily a bad roof, but it is a failed roof.

Well, then that definitely does affect the value because that's an immediate expense that, that the next person is going to have so very unfair for home owners who have to replace the roof. So hopefully, hopefully cross your fingers for hail damage.

And then you can just make a claim with your insurance company and it won't cost you the full price of the roof, but rather just a deductible. Instead, if you have any comments, questions, or criticisms compliments, I'm here for those, you are welcome to comment below this Video, or you can always email me hello@mywrighthouse.com.

Or if you're thinking that now is the right time to sell your house, whether you have a brand new roof or an old roof, we would love to talk with you about our strategy for helping you get top dollar for your house in today's market. So I'll include a link below this video where you can schedule a call with me or my team. I'll talk to you soon.