HOW DOES YOUR ROOF AFFECT THE VALUE OF YOUR HOME?
The roof can have a significant impact on the value of your home when you sell it. Although you may think buyers only consider the exterior of your home, its condition and how it is decorated, structural and roofing factors are more important than that to investors or buyers who know better.
A roof in need of repair or that looks old and worn may deter buyers from looking at your home. Here are some negative consequences of a poor roof.
- You might receive fewer offers
A new roof may be an extra cost that buyers don’t want to pay. The same applies for a roof in dire need of repair.
If you aren’t willing to lower the price of your house to attract them, an old roof or failing roof could make your property less desirable.
- It is possible that the sale process will take longer
Undoubtedly, buyers will negotiate the price of a home that has a roof that is badly damaged or needs to be replaced or demand that it be replaced before they sell.
These negotiations will undoubtedly slow down the buying process and leave you with a home that is not sold.
- Offers might be lower
You may not be able to get the asking price for your house if the roof is in poor condition. They may also offer less to cover the cost of replacing or repairing the roof.
What can a roof do to increase your home’s value?
Although most homeowners won’t get a 100% return on investment when replacing the roof of their home, they will receive more offers than they receive from sellers. Making the most of your investment could include:
- It is important to remove the old shingles and not to layer the new ones
- Professional roof maintenance and inspections
- Choose mid-range roofing materials, but not too expensive
- Transferring the warranty to buyer
If you decide to replace or repair your roof prior to putting it up for auction, make sure that this is stated in the sale listing.
Although it is a smart investment to have your roof replaced before selling your home, it might not be necessary in every case. Before you sell your home, have a professional roofer assess the roof’s condition.
This post was written by Ted Williams! Ted is the owner of A Old Time Roofing, one of the best roofing companies in Saint Petersburg, FL! Ted is a Master Elite Weather Stopper GAF Roofing Contractor, a double award winner of Best Steep-Slope Contractor from GAF and achiever of Master Elite Consumer Protection Excellence from GAF. He has been serving the Pinellas County area since 1978. Old Time Roofing has a tradition of quality workmanship, servicing residential and commercial properties. Click here for more information!