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home improvements

Is it possible to get a ballpark estimate on the increase to a property's value by installing a new roof and heating system?  Thanking you in advance.
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May 28 2011 - Clayton
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Ask a local Realtor how those improvements will add to the value of your home.  If you are considering selling your home, ask that Realtor what other improvements you should make to prepare your home for the market.
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May 28 2011
Hi Clayton,

It's a hit or miss scenario. These questions frequently come up and I consistently discuss "cost effective repairs" with all of my clients. These repairs include your basic paint, carpet, minor landscaping, and clean-up work. In regards to the heating and roofing, I highly suggest installing a standard roof in today's market to show that "its new". (don't go overboard as you'll lose money). Same goes with the heating. Heating should add $2-4k, roof should add $4-7k.  

I hope this answers your question.

Best,

Arbi
The Sold By Arbi Team
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May 28 2011
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May 28 2011
Ask a local realtor for the valuation of your home today vs the potential improvements you are considering.
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May 28 2011
Profile picture for wetdawgs
On Zillow, you can use the "my estimate" feature on the home details page.  It will give a rough estimate on the value added for new roof & new heating, as well as remodeling and other upgrades.
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May 28 2011
Profile picture for the_country_hick
It will add very little. A house is expected to have a roof and heating system. The big difference is if the house has those things needing replacement the cost of replacement and some extra gets taken off. It does add to desirability as new roof and efficient heating systems mean fewer costs to arrive quickly.
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May 28 2011
Yes, $0.00.

The roof will add almost no value, unfortunately, because most buyers only regard that as an issue if the roof is clearly old and needs to be replaced...otherwise it is not even noticed or considered.

Heater might add a small bit of value if it is high high efficiency....but probably not due to same reason above per roof issue.

Paint, carpets, wood decks, and front yard minimal landscaping probably add as much or a little more value than the cost.

Sorry!
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May 28 2011

Value is based on what an actual buyer will pay.  That said, a roof, unless architectual in design like spanish tile, is like paint.  It creates an attractive sfeature.  Any house with an unattractive exterior is valued lower on a buyer's view point.  The real cost advantage comes with no request for deductions from the buyer and "if you needed it anyway, you won't have to worry about leaks to repair on the interior".

As to the heating system, unless you change the type, ie. electric baseboard to HWBB or Central Air, you are mostly avoiding the buyer's request for a deduction again.  Higher efficientcy will give you a minor perk for the buyer.

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May 29 2011
 
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