Consider Using Your Tax Refund For a New Roof
About this time of year, people start thinking about filing their taxes, and then they start dreaming about what to do with their refund. While a new TV or a vacation in the Caribbean might be on the top of the list, sometimes there is a more practical use for a tax refund. If your roof is old and in need of repair, you might want to consider replacing it. And though it might not be as exciting as a tropical vacation, a new roof can be a really smart investment.
Most tax refunds will not cover the whole cost of a new roof. However, they can contribute a big chunk of the cost, offsetting what you might have to finance or take out of your savings. An asphalt roof can last for 20 to 30 years, and roof systems from specialty materials we install at Roofman can last a lifetime! Therefore, although a new roof is a big financial commitment, it is not something you need to do very often, and it is a good investment in the long run.
A Good Investment
There are several reasons why a new roof is a good investment. The first reason is that it protects your investment in your home. For many of us, our home is one of our largest investments, and a good roof will keep it dry, protecting it from moisture and damage that can result if you have a leaking roof.
Secondly, a new roof increases your home’s resale value. If you think you will be selling your home in the next few years, a new roof can make your home more valuable to potential buyers. Also, it helps with curb appeal–a home with a nice solid roof is very attractive to a buyer. At Roofman, our guarantees are all transferable to a new owner!
Increased Energy Efficiency
An additional reason a new roof is a good investment is improved energy efficiency. A sound roof keeps the house warmer in the winter and cooler in the summer. Asphalt shingles actually reflect solar heat, so they reduce your home’s cooling costs in the summer. Also, if you use Energy Star materials for your roof, you could qualify for a tax credit the year you have your new roof installed.
If your roof is nearing the end of its life expectancy, it is a good idea to consider replacement. Other warning signs that might indicate damage would include leaking, sagging, or dark spots. The best approach is to have a professional come out and inspect your roof. They will be able to guide you as to whether a repair or replacement is the best option. If roof replacement is the best choice, tax refund season is a great time to set the wheels in motion.