Did you know that real estate values in Chicago increased by 6.5% over the last year? Experts say that this upward movement will continue within the next year, thereby increasing home values by up to 3.4% more of the current median ($194,800). Real estate professionals advise that if you live in Chicago, a roofing system replacement is one way to further increase your home’s property value.
Generally, repairing or upgrading your home is recommended if you’re looking to put it up for sale. But a roof replacement can do wonders on your home’s external appeal, which is usually the first strong and solid come-on for prospective buyers. In Chicago, roof replacement contractors are hired by homeowners to ensure that the job is done right the first time. While it could be tempting to repair or even replace the roofing system yourself, this may not be the best course of action if you are putting your house on the market. A job that’s professionally done will put the buyer’s mind at ease, and this could prove to be an extremely important deciding factor for them.
Moreover, if your Chicago home’s roofing system is not in good condition, potential buyers might see it as a safety hazard, which could immediately turn them away. The realtor’s assessment of your property’s value may also not be as high or “promising” as you expected. On top of all these, the prospective buyer could haggle and ask you to lower your price to cover the repair or replacement costs. In the end, you may simply agree to have the roof replaced, which can considerably delay the transaction.
Be on the lookout for the following signs of roof deterioration and have them fixed before putting your home up for sale:
• Sagging roof deck
• Leaks in the basement (if broken pipes have been ruled out)
• Brown or dark spots or trails on the ceiling
• Light seeping through the roof
• Damaged shingles
• Shingle granules in the gutter
• Mold growth inside the house
• Moist or damp interior walls
By how much will a new roof increase property value? Research shows that with a new roof, property value could increase anywhere between $10,500 and $12,000.
So if you’re putting up your home for sale in Chicago, roofing system replacement will definitely work in your favor.
If you wish to talk to a professional contractor in Chicago for roof replacement, check out AdvocateRoofing.com