Do You Have To Replace Your Roof Before You Sell?

If you are planning to sell your home, you have to consider exactly what to fix before you officially put it on the market. One major consideration is whether or not to repair or replace your roof. Before you decide on what action to take, you need to consider several factors. 

Cost

Before you decide what to fix in your home, you need to come up with a budget for repairs. A new roof can cost between $5,000 and $30,000, a substantial amount of money for many homeowners. Fortunately, you can expect to recoup a significant portion of your investment when you do reroof your residence. You will probably see a direct 63% to 73% return on the price of your new roof when you sell your house.

Buyers

You will reap other advantages from having the job done. Major roof problems are frequently a deal breaker for potential buyers. Most buyers want to purchase a home that is ready for occupancy. Of course, some hardy house hunters are looking for a bargain and know that they will initially pay less for a house that needs a new roof, but you cannot count on finding these buyers when you need them. Another option is to have your roof inspected by experts who can "certify" the roof as having several more years of life in it.

If you live in a "hot market," buyers will be more likely to overlook a roof that needs some repair. If the houses in your area are moving slowly, you can bet that your damaged roof is going to make selling your home quite difficult.

Financing

If you believe you need a new roof to sell your home but do not have the cash to pay for it, you can investigate a home equity loan. You will have to repay it when the home is sold, but it will allow you to make the roof repair or replacement as well as other repairs that will make your home more appealing to house hunters. 

Your realtor will likely advise you to repair or replace your roof before you put your home on the market. In some instances, you may be able to sell your home "as is" and still make a decent profit; however, that strategy is an "iffy" one. Remember that price is not the only issue. Many home buyers want a house that will not require any repairs when they move in. Consult with a roofing professional about what options might work for you.  Contact a business, such as Armstrong Installation Service, for more information. 

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