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Roofing Cost vs. Value Explained
Most people think of a roof as a one time expense that doesn’t add value to the home. They believe that it’s a sunk cost, but that is not the case! A roof is a great investment to make at any stage of owning your home because it increases the value of your home more than the cost of the roof!
Every year, Remodel Magazine puts out a report called the Cost vs. Value Report. It get’s broken down into region and it looks at approximately 25 different home remodel type projects. They look at the average cost per project and then the average return on investment for each of those projects.
Fortunately for us, San Diego is such a big market that it get’s its own report. Over 2,000 construction companies, real estate offices and appraisers compile their data and this report sorts by project type.
Here are some examples of home improvement project costs and their ROI.
It’s not always about creating an ROI from a home improvement project, but it’s nice to know that the money you’re investing will be there when it’s time to sell.
The National Association of Realtors (NAR) says that the two most common items requested improve are painting and flooring, no big surprise there. But, the third most commonly requested, after the inspection, replaced item is a roof project.
A new roof in San Diego may seem like a daunting process, but it doesn’t need to be. We offer free consultations to give you an estimate of your costs. Even if you’re considering selling, a new roof can make you money on your sale.