Getting a Tax Refund? Why Not Renovate With Roof Repair or Replacement?

Home repairs and renovations-- including roof repair or replacement-- are a great way to turn a tax refund into a home investment. Depending on the condition of the roof being replaced, you could see an immediate return of about 60 to 68 percent of the project cost, but it adds even more base value if you plan to sell in a few years, especially if a roof in poor condition is replaced by a new roof material such as tile or metal.

Broken Shingles

Broken or missing shingles are the most common reason to get roof replacement or repair. When the shingles become damaged, they allow wind and water to get beneath the exterior covering. In time the water under your shingles will cause rot and has the potential to promote the growth of mold and mildew inside the home by increasing the interior humidity. Additionally, loose or broken shingles are more vulnerable to blowing winds, creating a domino effect of damage.

Sagging Trusses

If there is a noticeable dip along the surface of your roof, it is a definite sign that the trusses beneath are either old or damaged and no longer able to support the roofing properly. Left alone, the whole roof will eventually cave in. This type of roof replacement will add a great deal of value compared to how it would appraise with the old roof. This type of roof damage is fairly rare, however, and typically develops over decades. 

Soffits and Fascia Boards

The bottom end of your trusses is capped with what is called a fascia board. This board creates a seal that prevents water from getting to the more porous truss ends. A soffit is the thin sheeting material used to box in the eaves. If you have a roof leak, both of these items are vulnerable to rot and may lead to extensive wall damage as well.

Storm DamagesIn heavy storms, debris can be blown long distances. Even if you do not have any trees near your home, branches can be blown onto it. In the most severe storms, all sorts of airborne debris could potentially cause damage. Similarly, leaves and twigs that accumulate in valleys and gutters encourage wood, metal, and asphalt to deteriorate more quickly. 

Build Property Value

Go for a leisurely drive and take note of the condition of the roofs on houses as you go. It is easy to see when a roof is in need of repair or replacement. Because a roof is highly visible, it will quickly degrade the home value if it is not well-maintained. Conversely, putting a new roof on a house that needs one will improve the perceived property value of itself and the homes in its immediate vicinity.

Home repair and renovation have to be done now and then. If you are lucky enough to avoid damages caused by heavy storms, the materials themselves will eventually decay. If you have been putting off getting repairs to your roof, consider that a leak can cause a lot of interior damage, including walls, ceilings, and floors. The longer roof repair is delayed, the greater the cost of interior repairs will be.