Getting a roof replacement is considered one of the most significant expenses a homeowner must deal with before putting a home for sale. Potential buyers will always prefer houses with new roofs. That gives them peace of mind since they don’t have to worry about roof damaged in the near future.
Should I replace the roof before I put my home for sale?
Well, that depends. Every roof is different. So, the first step is to ask for a roof inspection. A professional roofer will examine your roof and let you know what might be needed. After that, you’ll be able to make an informed decision.
Did your roofer determine that you need a new roof?
Keep calm and don’t stress out! Answering the following questions will help you determine if it’s time to start a roof replacement:
1. Do you own the home?
The decision of replacing the roof may depend on whether you’re looking to get a lot of money by putting your home for sale. If you already own the house, for example, then you may not need as much of a return as someone with a large mortgage to pay and who still hopes to leave with some cash in pocket.
2. Will you need a home-equity loan or can you afford the cost?
You can use a home-equity loan to make repairs, but remember that investment will also need to be satisfied once the house is sold.
3. How is the competition in your area?
Is the market in your neighborhood hot enough? Do you consider that your home will receive many offers?
Check whether there are other properties priced in your range in the same area. If so, examine the conditions they are in. A new roof will always be a major incentive to potential buyers if you’re facing a lot of inventory on the market.
4. Does leaving the roof as-is have a negative impact?
Is it necessary to get a new roof to prevent other damage in your home? If you already saw the first leaks, you must act immediately. Keep in mind that it’s difficult for the buyer to get a mortgage if the roof is in bad shape.
5. Will insurance cover part of the bill?
Examine if your roof has been missing tiles due to storms. Insurance usually covers this kind of event. So, get ready to investigate how filing a claim will help you pay the bill.
Aren’t you interested in replacing the roof?
One thing you can do if you refuse to pay for a total roof replacement is to ask for a partial repair to address immediate problems on the roof.
You can also offer buyers a lower price or credit that factors in the potential cost of the roof.
In some cases, buyers are more interested in replacing the roof themselves.
Don’t know if it’s time to replace your roof?