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Are you getting ready to sell your house? Not sure if you should replace your roof before putting it up on the market? This question is going to depend on whether or not you have the money to replace (or even just repair) the roof and also what condition the roof is in and if the value increase will be worth it to you.
If you’re stuck wondering whether it’s a good idea or out of the question, keep reading because today, we’re going to sort through all of the positive and potentially negative things that might come up when you’re making such a big decision.
Buyers Will Go Looking
No matter what happens, when you put your roof on the market and potential buyers start coming around to consider the purchase, one of the biggest “deal breakers” they’re going to spend a lot of time looking into is the condition of the roof. If your roof is in sore need or a replacement, you’re going to have a hard time selling because a roof is one of the biggest concerns for a home buyer.
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And do we blame them? A typical roof can cost thousands of dollars and no potential buyer wants to shell out all of the money for the house and then another $10,000 on a new roof. If you need to sell quickly and for a good profit, we recommend replacing it just based on the buyers who will go looking.
Cost VS Value
This is one of the most important things you need to consider when it comes to whether or not you’ll replace and/or repair your roof before selling. The cost of replacing a roof can start anywhere between $3.50 and $5.00 per square foot. You’re looking at a total replacement cost of between $5,000 and $10,000 for the average, single-family ranch home.
You need to look at the value of your home from at least two perspectives.
One: How much will you sell the house for if you do a full replacement of the roof?
And two: How much will you sell the house for if you don’t?
Remember, by not making necessary repairs or making the full-replacement your home may be begging for, you could be looking at a major drop in the value of your home which will mean you won’t be able to sell it for as much.
Is It Worth It?
Selling a home that needs a roof replacement can cost you tens of thousands of dollars. So ask yourself: is it worth it? It’s more than likely you’ll get at least market value for a house that has a new roof. Homebuyers gobble things like that up pretty quickly because 1) It doesn’t seem as daunting and 2) It will save both of you heartache and money in the long run.
Deciding whether or not to replace or repair your roof before selling can seem like a difficult and sometimes very costly decision, but if you want to get the best money out of your house, making those repairs or getting that replacement can be one of the best decisions you ever make.
Remember: a house is a very large investment and because of this, buyers will always beware and be careful when it comes to big investments within that investment. Like the roof. If you’re not sure what decision will work best for you, call a roofing expert to take a look and give you information about what will be most cost-effective and value-increasing when it comes to your home. Best of luck!