Buying a new home is one of the most stressful experiences one can experience, followed closely on the list by the stress of selling a home. It seems there are a million things you must consider when preparing to sell your home with all of them seemingly having an impact on your selling price.
While some of those considerations are relatively simple, one is what (if anything) to do to the roof of the home you’re selling. While many real estate agents will automatically say, “replace the roof!” when looking at your home, it’s not that cut and dry.
Why Replace Roof Shingles
Before you can properly analyze whether to replace the roof on a house you’re about to put on the market, you must think about why you want to. Is the roof leaking? Do you want to increase the “curb appeal” of your house with a new roof? Is it because your realtor told you it was something you must do?
There can be some good reasons to replace the roof of a house before selling, but before you do that, you’ll need to keep a few things in mind.
Is It Worth It?
Before you make the call to tell a roofer, “replace my roof, I’m selling the house,” remember that you will most likely not recover the amount it will cost you through an increased selling price. On average, homeowners will get about 60 to 70 percent of the cost of a new roof back in the form of increased home value. In other words, if your new roof costs $10,000, it may only increase the price your house sells for by $6,000.
This isn’t the only factor to consider, though.
Does the Roof Have Problems?
If the roof on your house is leaking, it may be almost impossible for someone to get a loan to buy your house at all. The longer a leaky roof is in place, the more damage it can cause. Mortgage companies frown upon loaning money to purchase a home that has major roof problems that need addressing before their customer can even move in.
If your roof has problems, replacing it may be the only way you will have a chance of selling your home.
Check Out the Competition
Another factor to consider when deciding if the cost to replace your roof is worth it is the competition in the area. What other houses are for sale in your area? How well are houses selling in your area or neighborhood, especially at the price point you plan to sell your home at?
Even if you can’t completely recover the cost of a new roof, it could mean the difference between finding a buyer or not. A new roof can be a major plus in the eyes of most potential buyers and could give you a leg up on the competition in your area.
Inspection Can Answer A Lot of Questions
When selling your home, you must decide which question you’d rather be searching for the answer to: “How much to replace roof shingles?” or “Why isn’t anyone interested in buying my house?” For many homeowners that are about to place their house on the market, it may very well come down to one of those two questions.
Authentic Restoration can help you find the most cost-effective answer to all your questions, and help you get the most from your house once it’s placed on the market. The cost of roof repair may be a small price to pay to sell your home.