When looking to sell your home fast re-roofing can help boost your asking price. Here is everything you need to know.
Selling a home can be an exciting process, but it can also turn stressful if it takes too long to seal the deal.
If you’re trying to sell your home quickly, you may wonder if re-roofing is necessary or if you can sell your abode as-is with its current roof.
Before you spend your hard-earned cash on a new roof, read on to decide whether or not getting one before selling is a good idea for your home.
Determine the Extent of Damage
The average roof has a lifespan of a couple of decades, but this can vary depending on where you live and what type of material your roof is made of. Older roofs can be more prone to leaking, and they might raise a red flag for home inspectors.
Assess the current condition of your roof by hiring a professional roofing company to perform an inspection. They can take a closer look at the condition of the shingles, the underlayment, and gutters to decide if you need to consider a brand-new roof.
In some cases, any existing damage or wear and tear to your roof may just need some TLC. Simple repairs can cost you a lot less than re-roofing and it should help the roof pass the home inspector’s test.
A professional inspection can pinpoint areas where your roof might need repair, or it may result in the need for a total replacement job. Either way, it’s best to find out before you list your home on the market so you can be prepared.
In humid areas of the country or places that are prone to storms, your roof may show more wear and damage than other places. Homes in drier climates with mild weather will likely result in a roof that can last a lot longer.
Consider the As-Is Asking Price Before Re-Roofing
If your main goal is to sell your home as quickly as possible, you can always consider selling it as-is. When you list an as-is property, you’ll need to disclose anything that could cause issues later.
For homes with an older roof, it’s easy to simply inform potential buyers of its current age. Let them know that the home is being sold as-is in its current condition and that the roof is “x” amount of years old.
Keep in mind that when you sell a home as-is, you’ll need to lower the asking price. Take the roof into consideration when you’re deciding how much to list the home for.
A new roof is expensive and you likely won’t get the same return on your investment when you go to sell. For many homeowners, it’s still more advantageous to sell the home as-is without replacing the roof.
If your roof is in serious disrepair and you’re about to enter a turbulent weather season, you might want to consider re-roofing. However, if the weather is mild and it’s a hot seller’s market, listing as-is could end up saving you money in the long run.
It’s very important to note that many mortgage lenders won’t approve a loan if the roof is in serious disrepair. Unless your buyer is paying in cash, a damaged or old roof could hinder the deal from getting closed.
Financial Factors and Your Roof
For those who happen to own their home outright, getting a new roof might be a smart option. You’ll still likely end up with a decent profit in your pocket at the end of the day since your home is already paid in full.
However, most homeowners are still paying on their mortgage and the cost of a new roof can put them into debt. If you’re set on a re-roofing job, make sure you get several estimates so you know you’re getting the lowest price available.
The cost of a new roof can vary, and it mostly depends on the size of your home. A larger home means a more expensive roofing job, while a smaller home will obviously cost you less.
You can always opt for the cheapest shingles available just to say your home has a new roof. Make sure you save all of your receipts to show potential homeowners so they know you’ve recently had the roof replaced.
It’s important to take your current financial situation into account before you list your home. Getting a new roof is just one part of the bigger picture when it comes to trying to sell a well-maintained home.
Hot real estate markets mean faster sales, and this could mean you can avoid worrying about a new roof altogether. If you notice that a lot of homes near you are selling as-is and selling quickly, you can always give it a try. Pay close attention to your local real estate market to try and get a feel for how fast you think your own home will sell.
Raise the Roof and Raise Your Asking Price?
Once you’ve weighed the pros and cons of re-roofing your home, you should have a better idea of whether or not it’s worth it to you. For those sellers in a hot real estate market, you might be able to skip a new roof installation altogether.
If you’re worried about the home passing inspection, hire a roofer to take a closer look at the condition to give you an estimate for repair. These simple tips will give you clearer insight as to whether or not a new roof is worth it to you.
If you want to sell your home fast in the Boise area, visit our website and click here to find out more.