Does Replacing Your Businesses’ Roof Add Value?
In this post, we will examine; does replacing your businesses’ roof add value? Read along to learn ways to add value to your company.
Whether you are purchasing a new commercial property or looking to improve on your existing property value, you should start from the top and consider the condition of your commercial roof. The roofing on your commercial building is the first line of defense against a variety of common factors that can affect the value and longevity of your building.
There are many considerations to be made regarding your commercial roof, and the most crucial decision any business owner may face is weighing the cost of replacing the roofing of their business with the possible increase in value it may provide. In this article, we are going to go into the benefits to your business should you decide to replace your existing roof. As well, we will provide you with some things to look for to help you decide whether a full replacement is in order, or if repairing your roofing may be an option.
So, it’s time to dig into this topic and answer the question, does replacing your businesses’ roof add value?
The Benefits Of Replacing Your Commercial Roof
There are many benefits to replacing your old commercial roofing with a new and modern option. In addition to improving the resale value, there are many other ways a new roof can add value and savings to your business.
We’ve listed a few of these benefits below:
- Using energy-efficient materials adds value to your property by lowering your average heating and air conditioning bills. Options such as adding a white acrylic coating and energy-efficient insulation can begin saving you money immediately.
- A new commercial roof can also assist in lowering your building’s insurance rate with the use of fire retardant materials, making your roof safer. Always check with your insurance company to make sure you’re receiving all of the rate discounts you are eligible for
- Replacing your roof also aids in protecting your building from the weather, reducing the possibility of damage to your building from leaks, cracked sealants, and missing or corroded gutter and drains. Weatherproofing options also add value to your roof.
How To Decide Whether To Replace Your Commercial Roof
Now that you know some of the benefits of replacing your commercial roof, how do you decide whether your roof needs to be replaced? In some cases, it may be more prudent to have your roof repaired instead. We’ve put together a few general questions to consider when deciding whether repairing your roof is less cost-effective than replacing it below:
- What Is The Extent Of The Damage?: If the damage is limited to a small portion of your roof, a repair may be the better option. However, generally, if more than 25% of the roof has significant damage, it is considered to be more cost-effective to replace the roof.
- Where Is The Damage Located?: IF the damage is located in an area that is critical to business operations, over important or essential machinery, or you have done repairs on this section in the past, it may be time to replace your roof or at least the affected section.
- Do You intend To Sell The Property Soon?: If you intend to sell your property within the next two years, it may be more cost-effective to repair any damages rather than pay for a full replacement or roof installation. However, if you intend to keep your building for longer than this two-year period, a replacement of your commercial roofing may bring a better price when you do intend to sell.
- How Significantly Will Replacing The Roof Impact Your Business?: If replacing your roof impacts your ability to conduct business, it may be prudent to go with a repair-now, replace later option. It is best to replace your roof at the time of year; that will impact production and profits the least.
On Recovering And Coating
If you have decided to hold off on replacing your roof, recovering or coating your roof may be a happy medium. We’ve gone into the benefits of both options below:
- Restoration– If your roofing has been damaged but the insulation is still viable, recovering your roof may be the solution. However, this option works best if your roof has only one membrane that has reached the end of its lifespan.
- Coating- If your goal is to simply extend the life of your roof, a new coating may be in order rather than a full replacement. This is an excellent option for minor damages or improvements to your existing roof, as well as improving heat and leak protection. You may also receive one year of tax relief!
Remember, when considering any repairs to your roof or looking into a replacement, it is vital to have a licensed roofing specialist inspect and assess your roof to provide you with the best options for your commercial roof, as well as ensure your repair or replacement is completed efficiently and safely.
Now you know everything you need to answer the question of whether replacing your business’ roof can add value!