When selling a home, one of the more important details that can often help or hinder your efforts is the condition of the roof. The last thing homebuyers want to deal with is residential roofs in need of repair or replacement. This is why most buyers conduct home inspections that include an inspection by a qualified residential roof company.
If you want to sell your home faster and get the most for it, take care of residential roof services ahead of time to prevent buyers from looking at your home.
New Roofs Increase Home Value
As both your realtor and any residential roof company will tell you, a new roof improves the value of your home. A study done on this topic revealed that homes with a new roof appraised at an average of 13% higher than before replacement. Why? Because new residential roofs look nicer and provide greater curb appeal.
A new roof also means no hidden damage needs repairing. A higher appraisal value is good for a number of reasons, especially when trying to sell your home.
A New Roof Is A Selling Point
When an inspection reveals the need for residential roof services, either repairs or a complete replacement, many buyers reconsider buying that house. Faced with the choice of buying a home they know will need roof repairs or even a new one versus finding a better house, many will simply walk away and look elsewhere.
Those who remain interested knowing they will need to hire a residential roof company later will use this finding as leverage to make a low offer. Once it becomes known that your house requires work, much of your ability to continue negotiating for a high sale price is diminished. Conversely, you can retain your negotiating power or even increase it if you handle all roofing work ahead of time.
Should You Install A New Roof?
New residential roofs, or those that are inspected and certified to be in good shape, can be a definite selling point in a competitive real estate market. The decision to have a new installation done should be made by considering a few important factors, such as those listed below:
- Present Condition - If your roof is in bad shape or nearing the end of its service life, a new installation makes sense since it will make the house more desirable to prospective buyers. It is also smart considering the fact that you will need to replace it soon anyway, should you decide to keep your home.
- Home Value and Sale Price - Depending on the increase in home value you may see by contracting a new installation with a residential roof company, you could get more for your home and it will probably sell faster. This could be especially helpful when the housing market is down, as it makes your house more desirable or even in a competitive one, bringing in higher bids.
- Affordability - In addition to the considerations above, you must also weigh the cost of residential roof services with how you will pay for them and what you are likely to get back for the house. Make sure you will be able to pay off any mortgage balance, including any equity loans taken to finance the work.
Before you decide that your roof is fine simply because it is not leaking, take a closer look. Old and unattractive roofs nearing their replacement time can work against you when trying to sell your house. Take the advice of your realtor and residential roof companies - consider putting on a new roof. Handling necessary residential roof services before you list your home can improve your chances of selling fast for the price you want!