Investing in and financing a new roof is a way for you to add value and appeal to your home, while also ensuring your property’s protection and insulation year-round. If you are thinking of investing in a new roof, and you intend to do so by financing the project, there are a few tips and tricks to keep in mind along the way. The more familiar you are with the process of financing a roof, the easier it will be for you to get the job done with minimal delays, hiccups, or setbacks.
Estimated Cost of a New Roof
Finding the estimated cost of a new roof for your home is one of the first steps you should take, whether you are doing so as a homeowner or a real estate investor. It is important to note that on average, the typical roof size for a residential home is approximately 1,700 square feet in the United States, or 17 squares, according to Roofing Calculator. Estimating the cost of a roof replacement will help you align your goals and remain focused when you need to most as a homeowner or property investor.
Financing Options Available to You
As a homeowner, you will want to take the time to research and compare financing options that are available to you. Financing options that are available to you are likely to vary based on your current income, credit history, and any existing lines of credit you may also have open in your name. You can learn more about financing options available to you online or even by working with a local bank or business advisor.
Roof Materials Optimal for Your Home
Choosing the best materials for your new roof is another major decision that should not be made lightly. One of the biggest factors when determining which new roof to purchase included durability among 88% of participants in a consumer survey, followed by longevity, which captured another 83% of surveyed individuals. Whether you’re interested in a traditional asphalt roof or if you’re seeking a solar, concrete, metal, or slate roof, it’s important to become familiar with your options before settling on a decision that involves a major investment.
Finding the Right Roofing Contractor or Company
Anytime you require inspections, repairs, or a complete replacement of your roof, you will want to find the right roofing contractor or company to get the job done right. Qualified roofers will not only present a portfolio, but also proper licensing, insurance, and certifications. Always verify the legitimacy of any roofing company before allowing them to work in or around your property.
Plans for Selling Your Home in the Future
If you have plans to sell your home in the future, you will want to ensure your roof is new or well-maintained. A new roof can fetch up to a total of 85% of its value in resale, according to Home 365, making it one of the best investments for any homeowner or real estate investor. Taking the time to invest in a brand-new roof for your home can be one of the fastest ways to boost your ROI, especially if you are just getting involved with real estate investing for the first time.
Whether your goal is to save money while investing in a new roof or if you intend to add as much value as possible to your property, you can do so by preparing ahead of time and conducting adequate research before making any decision. Working with the right roofing company will also help you learn more about your options when comparing different roofing materials and solutions that may be ideal for your home at the time. Understanding various roofing materials on the market and solutions that may be optimal for your home is a way for you to ensure you are making a wise choice each step of the way.