If you invest in real estate properties, you know how every cost has to be figured out down to the percentage of returned profits. Professionals measure everything from the closing costs to the cabinet handles and have a tight checklist for getting things done. Whether you’re buying investment properties for the first time or you’re revisiting the idea of roofing alternatives for the first time in several years, don’t skip over the option of a metal roof. The same qualities that make them attractive to some homebuyers, such as curb appeal, long-term durability, and the materials, should figure into your calculations. Here are three types of properties that should have a metal roof:
Are some of your houses going to be long-term rental properties?
Rentals are a particular sort of investment. You want everything to look nice, but it has to be replaceable. You have everything to be neutral but not necessarily bland. Every renovation choice has to either be something that’s inexpensive so you can replace it between tenants (like carpet) or a long-term addition that can handle a lot of strain and just needs a good cleaning or touch-up (like tile). The same concept is just as true for your roof. If you’re going to hold onto the property for several years, even decades, then you can afford to look at the long-term price tag. Metal roofs come with high initial prices, but they also come with long-term energy savings, fewer repairs, and longer warranties for any repairs that do need to happen.
This is especially true in Minnesota, where both the summers and winters can reach weather extremes. Metal roofs deflect more heat and stand up better to ice and snow, which means fewer inconveniences for you and your property manager.
Is the house a high-end flip?
A lot of the benefits of metal roofs are oriented towards long-term property holders. They don’t require much maintenance, even as they age, and they age much more slowly than traditional roofs. But that doesn’t mean you can reap a lot of benefits just because you’re holding onto a property for only a short amount of time.
More and more homeowners are turning to metal roofs. Check the neighborhood the property is in and look for neighbors that have metal roofs. Not only does that establish that there’s interest in that neighborhood, you can pick the best styles and colors based on what people in the area think. Then turn all of those longer-term benefits into highlights on your property description and get a higher selling price. People are much more willing to buy a property with a metal roof than to get a metal roof themselves, and it also boosts curb appeal so you can ask for a higher price tag.
Are you building houses on undeveloped land near booming suburbs?
When cities grow, they often grow quickly. If you have land in a previously undeveloped area that is quickly being surrounded by Minneapolis suburbs, turn it into high-income housing with modern construction styles and metal roofs. Most new developments are marketed towards families with high household incomes, and your constructions should reflect this. Whether you’re focused on single-family residences, townhomes, or apartments, metal roofs keep them in demand for longer. They also help keep holding costs lower. New neighborhood developments are always a risk until they get their first few buyers, and metal roofs keep the properties in good condition with lower energy costs while you find prospective homeowners.
Some properties aren’t a good fit for metal roofs, but a growing number of investments are. Go to First Impressions Exteriors to start figuring the specifics into your standard checklists and investment equations.