Should You Repair Your Roof Or Sell As
Chad Dierickx is a Redfin Listing Agent in Seattle.
Just once, Id like a homeowner to call me and say: A meteorite punched a gigantic hole in my roof. Do I need to repair my roof before selling?
Not only would that be a pretty amazing story, but Id have a much easier time answering with: Yes, of course you should repair that giant, gaping hole in your roof! Then again, if you market the home as a tear-down, theres a case for not doing any work .
Unfortunately, the average homeowner who is thinking about selling is probably trying to rationalize a roof situation that isnt quite as clear-cut: Will replacing those shingles really factor into my home sale? Do buyers really care about that moss? Do I really need to repair my 20-year-old roof or can I sell as-is?
Those are more challenging questions to answer. If youre wringing your hands in indecision, then read on
Whats the big deal, anyway?
So, how do I decide?
Whats the damage?
If your inspection reveals there are issues with the roof, bring in an expert to tell you how much repairs will cost. Costs can vary by provider, so its best to talk to two or three local roofing specialists to get a range of quotes. Knowing the cost will tell you if you can afford to take action, but also how much is reasonable to adjust the sales price by if you choose to do nothing and it factors into a buyers negotiation over final price.
Bottom line is
Why Buyers Care About The Roof
If your house needs a new roof, its likely to sit on the market a lot longer. Buyers know a leaky roof can cause major damage to a home. Your house is probably going to sit on the market longer.
If your houses roof looks old, has discolored or missing shingles, or has obvious storm damage, buyers may forgo viewing your home even if they like everything else they see in your listing. Other buyers may lowball their offer in anticipation of roof replacement. Meanwhile, even a minor leak can quickly become a bigger problem during a storm, costing you not only the price of roof replacement but also interior repairs, and slowing down the sale even longer.
Buyers also know that replacing a roof is pricey. Because theyre investing a huge sum of money in a new house, they may not have the funds for major repairs. Most buyers expect sellers to tackle those projects or reduce the selling price to cover the costs.
Should You Buy A House With A Roof Leak
Roof leaks are never good. If youre questioning the severity of the leak, then its best to have a home inspector check for the root cause and signs of water damage throughout the house.
You may find that the leak is fixable with a simple cosmetic repair. Or that the leak hasnt yet caused significant damage issues. For instance, water may have been trapped by debris or blockage on the exterior shingles, causing a leak to come through the roof by not letting it flow into the gutters. Its an unlikely scenario for most slanted roofs, but it can happen.
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Does My Home Actually Need The New Roof
Installing a new roof when looking to sell your house is always a great feature for a buyer, but at Stay Dry Roofing, we believe in honesty and transparency. That being said, not all homes need a new roof to sell. In fact, if your roof is still in good condition, you may just be putting yourself through a lot of work for no reason. Our contractors can help you determine if you need a new roof or not during an inspection.
Some things to consider when deciding on a new roof before selling a home include the age of the roof and its condition. Typically a roof is nearing the end of its lifespan around 20 years old. So if you havent replaced your roof and you are around the 20 year mark, it might be a great idea! Additionally, if you have many cracked or missing tiles or shingles, it might be better to replace the whole roof rather than just repair it.
Should I Sell My Home As Is Or Repair It
The decision on whether to fix your roof or sell your home as-is has a lot of variables.
The part of the country you live in, the size and shape of your roof, and the kind of materials youll need will all play a part in your decision.
If you have the money, time, and energy to order and oversee any needed roof repairs, marketing your home, and negotiations with the buyer and their agent, then this gives you a chance to maximize the property value before the sale.
If you dont have the funds, time, and patience for repairs and the following traditional sale taking 2-4 months on average, you are risking further damage decreasing the property price while you wait. Selling your home in its current condition is an option that you should consider.
If you dont have the money to fix your roof, you shouldnt feel as if you have no options. Once you subtract the cost of repairs and realtor commissions from a full sale price in a traditional transaction, selling your house as-is to an investor may net you more money than you think.
To maximize the value you get from the sale of your property to an investor, consider requesting a cash offer from HouseCashin. We are a national platform connecting homeowners looking to sell their house fast and for cash with real estate investors willing to help them.
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How Much Value Can A New Roof Add To My Home
Every roof is different, and the added value of a new roof depends on a range of factors, including the condition of the roof before it is fixed and the materials that are used for the new roof. The best way to determine how much value a new roof can add to your home is to consult with an experienced roofing contractor.
Determine If Replacing The Roof Is Worth It
So, now that youâve determined the extent of the damage and seen how much it costs to repair, you have to make a determination as to whether you should actually do the repairs. Sometimes, the answer is very obvious – if thereâs a significant, massive and obvious damage to the roof that will be obvious to any potential homebuyer, itâs an easy and necessary decision to go ahead with the repairs.
However, if there are only some mild tweaks and repairs that need to be done, youâll have to gauge whether the cosmetic factor for those repairs may be enough in the bottom line to offset the amount of money youâll have to lay out for the repair.
So gather all your information, and choose wisely!
What happens if I can’t sell it without doing the work first?
You may decide that the cost is too great, or that it’ll cause too much stress to do the work yourself. So you may go ahead and try and sell your home with its roof issue. Often, you’ll find a buyer who’s happy to take it on themselves, and you’ll still be able to get a decent price. .
What if no offer materialises though?
It could be a great option if you don’t want the hassle of repairing, or the longer waits that may come with trying to sell your home with a damaged roof.
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How Much Value Does A New Roof Add
Your homes exterior is the first thing a buyer sees and your roof is part of that crucial first impression. A few cracked shingles may not deter most buyers, but if your entire roof is in poor condition, youll want to take care of it before listing.
While a new roof can be expensive, it might be worth it when you consider the negative impact your current roof could have on your sale:
Fewer offers: A home that needs a lot of maintenance wont appeal to buyers looking for something move-in ready, so you may get less interest in your property.
Longer sale process: It may take longer to sell because buyers may want to negotiate the sale price, or they may request a roof repair or replacement before closing.
Reduced offer price: Anticipating the cost of replacing the roof later, buyers may not be willing to pay as much for your home in its current state.
A Consultation Is The Best First Step
If you plan to capitalize on high home prices and sell your house for top dollar in todays market, speaking with our roofing pros at Stay Dry Roofing can help you understand how a new roof can maximize your profits. Our team has worked with many real estate investors and agents to help the residents of the Tampa, FL area sell their homes. Reach out to our family owned and operated team today and we can schedule a consultation or estimate today!
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Will A New Roof Affect The Appraisal Of The House
You might think that a replaced and upgraded roof would automatically add value to the house, and therefore affect the appraisal. Surprisingly, a new roof doesnt usually affect the homes appraisal. This is because the homes value goes up only 60% of the actual roof replacement cost. With an average replacement cost in the Columbia area of around $8,000 to $10,000, that doesnt add a significant amount to the value of the home.
What Condition Is Your Roof In Now
To really get a good idea of what condition your roof is in, have a professional roof inspection. The inspector can pinpoint any problem areas that need to be addressed and help you make an informed decision. If your roof inspector recommends roof replacement, move on to addressing the following questions.
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What Happens If I Do Not Replace My Damaged Roof
If you do not repair or replace a damaged roof, then it will make it very difficult to sell the home. This is because you will not be able to hide the roof damage. During the home closing process, the home inspector, appraiser, buying agent and buyer will check the condition of the roof. If there are concerns, they can either order it to be fixed or suggest that the price be lowered to accommodate the needed repairs.
In other instances, it will completely deter prospective buyers from considering the home. By not fixing the home in a timely manner by repairing or replacing it, then it is likely to sit on the market longer than you would like and ultimately not sell for the asking price. It is generally more financially beneficial to have a professional repair or replace the damaged or worn-down parts of the roof.
Should I Replace My Roof Before I Sell My Home
This is one question that comes up a lot. Your roof is getting on in years, but you are planning to sell your home soon. Is it better to let the next guy deal with it or should you take care of it yourself?
Well, there are a few things to consider. For one thing, you should know that any sensible home buyer is going to have a home inspection done before buying. And any home inspector worth a darn is going to take a good hard look at that roof. He is working for the potential buyer, and he is going to make sure he finds every possible problem. That’s his job.
Then the buyer is going to bring up any problems the inspector found in the negotiating process. And their game will be to use any issues against you when settling on a final price.
Roof Replacement Assessment
Most roofing companies like Absolute Roof Solutions will offer an evaluation of the condition of your current roof.
If you choose a reputable company, they will give you an honest appraisal, and you will have some idea of what a home inspector will say.
If there are just a few minor details needing repair, rather than a general problem with the age of the roof, then the roofing contractor can take care of those before the buyer does his inspection. This will save you money and trouble in the long run.
Controlling the Cost of a Re-roof
The other major consideration when deciding whether or not to replace the roof is the legendary “Curb Appeal!”
Absolute Roof Solutions can help
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Can I Just Sell As
This is definitely an option if you cant afford the necessary repairs or you simply dont want to be burdened by the planning, coordination and supervision of a roof replacement project. However, it should be clear to you that selling as-is might impact the final sale price. Try to read up on the current pace of the market and see how your home compares to recent nearby sales. If you are able to sell in a competitive market, you might just find some luck as buyers might be more willing to overlook minor roofing issues. In this case, you might just be able to sell your home at a favorable sale price.
Alternatively, you can opt to lower your pricing so as to attract multiple buyers in a bidding war. This can work in your favor since a bidding war generally encourages buyers to do an inspection prior to making an offer or waive inspection altogether. Either of these scenarios eliminates the possibility that the buyer will renegotiate the final price later on.
Why Would You Choose To Repair The Roof Prior To Listing It
The main reason to repair a roof prior to listing a home on the market is to sell it faster. Well-maintained homes sell much quicker not only because they look better during tours but makes things much easier on the buyer who can make a decision without deciding on what is and what is not worth the hassle when it comes to problems with the home.
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Opt For Roofing Materials That Fall In That Goldilocks Midrange
To reiterate Christmans point from beforea buyer can tell if you put in the bare minimum, and they dont want to pay top dollar for a new roof they didnt even pick out.
Stick to midrange and be sure the materials match the other homes around your neighborhood. Also consider new roofing as a way to invest in your homes insulation and energy efficiencyboth features that matter to buyers.
What Are The Advantages Of Replacing Your Roof Before Selling Your Home
If your roof needs to be replaced, the advantages of replacing it before your house is photographed and listed are plenty. For one, you will get more offers. More people want to buy a house thats move-in ready than one that needs work, and that includes a roof replacement. Whats more, the less work your house needs, such as a roof replacement, the faster the sale process is once you have a serious buyer on the hook. In addition, if youre replaced that worn out roof, you have a better change of receiving your asking price.
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Reasons You Should Not Replace Or Repair The Roof Before Selling
For a lot of sellers, time is of the essence. If you find yourself without enough time to go through with a full roof replacement before you intend to move and sell your home, that is a good enough reason to leave the roof the way it is. Lets face it, moving is stressful enough on its own and you dont need to add more to your plate.
Another important factor to consider is your financial situation. The decision to replace a roof isnt the same as deciding what to get from the dollar menu. It is a sizable investment and a decision that isnt made lightly. If you decide replacing the roof isnt in your best budgetary interest, its a perfectly good reason to leave the roof as it is before selling.
Lastly, warranties dont always transfer ownership! Many people dont realize this. If youre selling your home and want to replace the roof, make sure that warranty will transfer to the new buyers.
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He has talked about selling or Its not his house, not his worry, and anytime anything breaks or doesnt work as well as brand new, he is looking at me to fix or replace it.
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