Will A New Roof Add Value To A Commercial Property?
With any commercial investment it is important that business owners are able to see both demonstrable benefits and a concrete return on their outlay. When it comes to commercial roof replacement some advantages are obvious – your roof will be aesthetically more pleasing, a new roof should require less maintenance, and depending on the style of roof you opt for you may benefit from increased building efficiency in terms of your heating costs. But exactly how quantifiable are the benefits of roof replacement in terms of cold hard cash?
If you are considering selling your commercial property then installing a replacement roof could be a very lucrative move. According to commercial property agents the nearly half of your premises’ curb appeal comes from its roof, with some estimates claiming as much as 6% in value can be added to your sale price with the addition of a new roofing surface.
If the sale of your property is a likely step you should aim to investigate what prospective tenants expect of your roof, in order to avoid under or overspending on roofing styles which may not be financially beneficial.
The Benefits of Commercial Roof Replacement
Much of the purported additional value from a new commercial roof comes from the assumption that a newer surface will provide the new owner with financial benefits in the form of lower maintenance costs.
By replacing a roof with a modern, reliable surface you not only reduce future spending on roof repairs, but you also eliminate the costs associated with the damage a leaking roof can cause. Eliminating the risk of mold, rot and pests in your commercial property is certainly going to add value to it, especially if this protection can be demonstrated over a significant period of time.
Adding increased efficiency to your commercial premises is another easily quantifiable financial benefit of full roof replacement. By calculating your current heating costs and the projected amount saved by the use of a more insulating surface, you can directly predict when your outlay will bring about substantial returns.
If you add additional features such as solar panelling or green roof systems these figures can be boosted further, with equally measurable financial outcomes. With many new tenants considering a building’s green credentials before purchasing, the energy efficiency rating of your property could end up being worth thousands of pounds more than the costs required to achieve it.
Of course it is recommended that you should discuss your financial expectations with commercial roofing contractors before undertaking any work, but most roof replacement specialists are happy to advise on the most financially worthwhile strategy for both your roof and budget.
If you have any questions on which roofing style might increase the value of your commercial property the most, contact Roofing Consultants today for friendly, expert advice.