When selling your home, it makes sense to make it as appealing as is reasonably possible to attract buyers’ attention. If your roof is in poor condition, you may be wondering if a roof replacement would be advantageous for your plans to sell the house. There are several factors that must be considered before you decide how to proceed. Let’s explore the questions you should be asking.
How Will a New Roof Impact Your Property Value?
Your home’s roof plays numerous critical roles. When the roof is in poor condition, the house is more susceptible to damage from the elements and pests. In addition, an older roof that is showing signs of damage will detract from the property’s curb appeal. Some potential buyers may not give a home in disrepair any consideration. These buyers could question how well other areas of the home have been maintained if the roof is visibly damaged. Even if a buyer does make an offer, the roof’s condition could be called into question by a property inspection report.
A new roof could potentially increase the property’s value. By doing so, you may be able to ask for a higher sales price than if the roof remains in its current condition. Your real estate agent can also use the new roof as a selling point. A new roof on a home for sale is more appealing to buyers and could entice them to make a higher offer.
Can You Recoup the Cost of a New Roof?
When you make a significant investment in a major home improvement and do not plan to continue living in the property, you understandably want to recoup as much of the cost as possible. A new roof is highly visible to buyers and has a major effect on curb appeal. More than that, it directly affects the impression that those buyers have of the property. Because of these factors, the investment in a new roof could be worthwhile.
Recently, Remodeling Magazine analyzed data on roof replacements in the Phoenix area. This data specifically centered on the return on investment for asphalt shingle roofs and metal roofs. The ROI for a roof replacement in 2020 was 70%. When you combine this high return on investment with the likelihood of a faster overall selling process and the potential for higher offers and more offers, you could reasonably decide that replacing your home’s roof is a worthwhile investment.
Does the Roof Really Need to Be Replaced?
You understandably do not want to pay for a roof replacement when it is not actually needed. Generally, a roof that has not benefited from routine maintenance and roof repair may need to be replaced after 10 or 15 years. This timeline may be extended a bit if you have kept up with maintenance. However, the best way to determine if repairs or a full replacement is a better option is to request a professional roof inspection. You may assume that a roof replacement is needed if shingles are missing or flashing is visibly damaged, but a repair may suffice in some cases.
Signs That You Should Replace the Roof Before Selling the House
- The roof is in poor condition and has reached its anticipated lifespan
- Significant roof damage is present
- Potential buyers who have toured the home have mentioned that the roof’s condition kept them from making an offer
Keep in mind that a professional roof inspection is beneficial regardless of your intent to sell the property soon. This inspection can help you to stay on top of its maintenance and repair needs, which can help you to optimize its longevity.
When Should You Not Replace the Roof?
While a roof replacement is beneficial and perhaps even essential in some cases, there are instances when it could be better to skip a replacement. For example, you may not have the funds available to replace the roof. The roof’s condition may still be an issue with potential buyers, but you could be able to avoid paying the roof replacement expense upfront. Possible solutions are to accept a reduced sales price or to offer a concession for the replacement through your sales proceeds.
In a hot real estate market, home prices typically rise, and buyers are in a frenzy to get a desirable house under contract. There are more buyers looking for homes than there are homes for sale. As a result, some buyers be interested in your home even if a roof replacement is needed. Consult with your real estate agent to get specific information tailored to your home based on current market conditions.
If your house will be sold as a fixer-upper or a potential development property, the buyer may be ready to make significant repairs or even redevelop the property from the ground up. In this case, a roof replacement may not affect a buyer’s interest in the property or the price that he or she is willing to pay for it.
What Should You Do Before Listing Your Home for Sale?
Our experts at JBS Roofing are available to complete a thorough roof inspection on your property. Through this inspection, we can provide you with definitive information about the roof’s condition and its need for roof repairs or a replacement. The details in the roof inspection report will also help you to prepare for potential issues that you may run into if you attempt to sell the house without making repairs or a replacement. If your roof requires repairs or a full replacement, our roofing pros in the Phoenix area will do quality work efficiently so that you can proceed with your plans to list your house for sale soon. Contact us today to schedule your inspection!
