You are preparing to list your home, but you have a dilemma. The house you are selling has an older roof that probably needs replacing or extensive repairs. Do you make the large investment to replace the roof before putting the house on the market? Or, do you leave the roof as-is and hope the buyers don’t negotiate too low a selling price? Alternatively, could you get by with just doing some essential repair work?
It’s not an easy question to answer. The decision on whether or not to re-roof before selling your house can be complex and requires considering the following factors:
- What is the cost of replacing the roof?
- How much of the money spent on replacing the roof can be recouped?
- How motivated are you as a seller?
- How is the market in your neighborhood?
- Can you afford the cost of a new roof or will you need to take out a home-equity loan?
- Will leaving the roof as-is cause damage to the house?
- Will repairing the roof be a viable alternative to replacing the roof?
Potential buyers will probably first see your house online. An old roof in poor condition will be obvious in photos and may turn potential sales away. If your roof leaks or has other problems, replacing it may be the only way you will be able to sell your home. Potential buyers may be unable to obtain a loan if the roof is in poor condition.
On the other hand, a new roof will beautify the house and be a favorable selling point in the listing details. A new roof is often worth a lot to potential buyers because it puts them at ease about future roofing issues. If there are lots of houses for sale at your price point, a new roof may be a major incentive to potential buyers.
A home in good condition will usually sell faster and for a higher price than a home that requires major repairs. However, it is important to look at the cost of replacing the roof versus the value that it adds. Generally, you can recoup most, but not all of the cost of a new roof.
Replacing a roof that is in poor condition is expensive, but consider these advantages:
- Market value increases.
- Curb appeal goes up.
- Sales process can be shorter since buyers won’t need to request a roof repair or replacement before closing.
- A house that is move-in ready appeals to potential buyers.
If you have an older roof that seems to be in good condition, the best thing to do is have a roofing specialist examine the roof and advise you on whether your roof needs to be repaired or replaced before putting it on the housing market. Sometimes, a few simple repairs are all it takes to get your roof back into an acceptable condition to attract potential buyers.
The choice is up to you on whether to replace your roof. But with so many factors to consider, the choice is not simple. Fortunately, the roofing experts at Pfeifer Roofing can provide you with a free inspection and professional advice on what your options are.