The short answer is yes. Your roof’s condition will affect the overall value of your property. Both residential and commercial properties will have appraisals at some point and the condition of the roof is an important part of this appraisal. When looking over the roofing of your property, an appraiser will look at several things.
- Roof age – older roofing can cause the overall value of the property to drop. Installing a new roof, on the other hand, can add between and 40 percent to the value. More modern and up-to-date buildings are assigned a higher value, and this includes the roofing.
- Maintenance – Older roofing also indicates that the building owner does not care for his roofing whereas regular maintenance extends the life of the roofing. Owners that care about their roofing and keep it properly maintained positively influence appraisals. It indicates that the roof will not require much work or replacement in the near future, which is valued by new owners.
- The neighborhood – in real estate it is a standard to keep up with upgrades in accordance to neighborhood standards. If your roofing is different from the others in the area and stands out, this can lower its value.
- Roofing materials used – The roofing you choose needs to match the quality and aesthetics of the neighborhood. Your roofing must also be regularly maintained if the others in your area are also maintained.
- Eco-friendliness – Being eco-friendly is more important now than ever before, and appraisals focus on the efficiency of a roof. Products like reflective coating, insulation, solar panels, are all very important in saving energy and something your roof should have if you wish for the roof to hold its value. Older roofing that does not include energy-efficient elements is not seen to have the same value as a newer roof with those features.
When you are planning to sell your property, or just want to make sure your building doesn’t lose value, proper roof maintenance and upgrades are important. Schedule regular inspections to identify weak spots early, get repairs done quickly, and keep your roof in good condition for longer. Investing in energy-efficient features will also extend the roof life and increase its value. Reach out to us today with any questions on keeping your commercial roofing valuable.