Putting up your house for sale? Your home’s exterior is the first thing potential buyers will see and your roof is a major part of the first impression.
Chances are, if it’s not aesthetically pleasing, they might not even choose to have a look inside the house. Sure, if it’s only damaged in a couple of places, it might not put off your buyers. However, if the roof is in poor condition and seems like it’s about to collapse, you might want to address it before listing it in the market. A new roof can be expensive, but there are several reasons why you should replace it before selling your house. Here are some of them:
Here’s the thing: If you don’t do anything about fixing the roof, you might not get many potential buyers. Sure, there are more important things to worry about, for instance, having plumbing repairs done or a new paintjob. But look at it from a buyers perspective. They don’t want to buy a house and worry about fixing the roof. So, you’re less likely to receive an offer. Moreover, if you fix the roof, not only will the look of the entire house change, but it will also increase the value of your house. According to the National Association of the Remodeling Industry, new roofs provide a return of 109 percent, which means you can could make a profit from replacing the roof.
If you’re not going to fix your roof, you’ll have to lower your selling price. That’s because a potential buyer will not want to pay more if they’re going to be the one fixing the roof. Moreover, you’ll also have to watch out for bargaining. Even though you might be offering a lower price, the buyers might consider this as a sign to negotiate it further down.
To avoid all this and ensure a good return, it’s best you invest some money and replace or repair the roof. According to a 2019 Remodeling Cost vs. Value Report, spending money on the roof will result in a return of 68%. So it’s best to replace your roof and offer your home with a sound roof as this would put you in a much better bargaining position and get you higher offers.
Slower Sale Process
Not only will you get fewer offers if you have don’t fix your roof, but there’s a good chance that the buyer will drag the selling process. They might continue negotiating on the property to get a lower selling price. What’s worse is that the lender might make it obligatory for you to replace or repair the roof. If that’s the case (and it often is!), you will save yourself a lot of hassle and worry if you just fixed the roof before selling your house.
The curb value is typically the first impression people get from your home. Think about it this way: when you pull up your car against someone’s house, what is the first thing that grabs your attention? A well-kept lawn and a freshly painted roof? Or is it a front yard with overgrown grass and a roof that’s just on the verge of collapsing? It’s important to have a good curb appeal because most homeowners see it as an indication of how well-kept your house is—and a roof is an important component of the curb appeal. Moreover, realtors love to talk about curb value and throw in words like ‘a brand new roof of the property they’re selling. This helps them explain the higher listing price and market your property properly.
Avoid Roof Certification Problems
Even if you think that your roof is in good shape, you should get it checked out and replace it if you find a problem. Traditionally, lenders require homebuyers to get their roof inspected for loan approvals—a process called roof certification. It lets you know what condition the roof is in and gives you an estimation of how long it will last. If you have missing shingles or drip edges, you’ll have to get it replaced. Even if you don’t get it done, the seller might, and if there are problems, you’ll have to lower your price. It’s best to avoid this headache and get yourself a clean bill when the time comes.