Will a Roof Replacement or Roof Repair Help Me Sell My Home?
Selling a home can be an exciting and nerve-racking time. When getting ready to list your home, one important aspect is determining what needs to be repaired or replaced. And a roof is pretty important to add to that list. But will a roof replacement or roof repair help you sell your home?
The simple answer is ... it depends. While there are no clear-cut directives requiring roof repair or replacement for selling your home, there are several relevant factors to consider.
When to Repair Your Roof for Selling Your Home
Did you know if your roof is in mostly good condition, minus some spots here and there, you can probably just have your roof repaired? When damage is limited to one section of the roof and still has years left on its expected life span, replacing or repairing that section of the roof is often less expensive.
If your roof is not outdated, seems in fine condition, and has a localized problem spot, a professional roof repair may do the trick. And that repair can appeal to your home buyers.
Most buyers, especially today, want turn-key homes. They want to move in worry and hassle-free. Therefore, most home buyers who see a damaged roof, no matter how minimal, will expect to pay less in anticipation of making the repairs themselves. Or worse, they will walk away without an offer because they don't have the energy or money to undergo roof repairs after purchasing a new home.
Local appraisers will also notice if your roof is in bad shape, which will reduce your home value based on how severe the roof problems are.
You might know your roof has minimal damage, like broken shingles, whether from storms or aging. And it might be tempting to save money and skip roof repairs, but it might cost you more in the long run. Keeping your roof in good condition is fundamental to home ownership and maintenance. It's like plumbing! You don't want either one leaking.
Main Point: Roof repair is best if there are minor fixes. If your roof is five years old and in relatively good condition, a new roof does not offer you any benefit. As long as the roof looks good and is projected to last, most buyers will feel comfortable buying the home.
When to Replace Your Roof for Selling Your Home
If you sell your home, ask yourself, "how old is my roof?" In Kansas City, most residential roofs are asphalt shingles. Asphalt shingle roofs can last 15 to 30 years. Although not as common in KC, you do see metal and tile roofs. Metal roofs can last 40 to 70 years, and tile roofs can last up to 100 years.
Once you know if your roof is approaching the end of its life, you should know that it's probably the best idea to replace your roof before you sell.
Another great and easy indicator that it's time to replace your roof before selling is if your roof has a giant gaping hole or is sagging. In both scenarios, a roof replacement benefits you since you don't know how long it will take you to sell your home. And ignoring such severe problems could cause more damage in or outside your home and mean more out-of-pocket expenses.
Roof replacement is considered home maintenance, so it won't directly increase the value of your home, but you may recoup between two-thirds and three-fourths of your total roof replacement cost.
And in a competitive market, a new roof can make a difference in selling in less time. That's because listing your home with the phrase "new roof" is an excellent marketing plug that makes your home more attractive to buyers.
Other marketing plugs you can use when you have recently replaced your roof can include:
- Improved energy efficiency
- Protection from extreme elements, like hail, torrential downpours, and snow
- Excellent warranty coverage on products and labor
- Increased curb appeal -Your roof makes up to 40% of the visual space on the exterior and has a significant impact on overall curb appeal.
Remember that buyers will look at your roof and see it as a reflection of the energy and investment you have put into the rest of your home.
Main Point: Roof replacement is best if your house has an old roof or is significantly damaged- especially if that damage decreases your home's value.
When To Sell Your Home As-Is - Roof Included
Certain situations might allow you to sell your home as-is. For example, if you cannot afford extensive repairs or a roof replacement, or if your home would be considered a tear down based on the market and location.
A tear down home is an older, functionally obsolete house whose primary value is the land it sits on. A tear down home allows a builder to create an up-to-date home.
If you decide to sell the roof as-is and it's not a tear down home, you will need to remember that it can impact the final sales price. Similarly, selling as-is and pricing your home lower to compensate for repairs can entice a bidding contest. So, if your home is priced in the mid-to-low price range compared to nearby houses on the market, you might not need to do any repairs.
One other thing to consider when selling as-is is that a roofing system nearing its end of life or needing repairs can sometimes hinder a loan from being approved. If this occurs, any essential repair expenses typically fall on the seller and are required to proceed to close. Some buyers may meet halfway on costs, but they might not. It's better not to be blindsided by this and know it's possible.
Main Point: Sell your house as-is if you truly cannot afford to repair or replace it or if it's a tear down. Remember to go on the low to the mid-price range for your home and not the high end.
How to Decide Which Option Is Best For You
Before you list your house, have a home inspection completed. The inspection will list all the issues in the home, from minor to severe, that may arise in the selling process. Once you know all the items, you can create a plan of action on which repairs and replacements take priority to optimize the sale.
Your home's exterior is the first thing buyers see, including your roof. And while buyers may not pay more for a home with a new roof, they may choose it over a comparable home with a bad roof.
The National Association of the Remodeling Industry (NARI) found that home renovations that improve curb appeal are the best investments to increase home value. They learned in their study that "buyers develop faster emotional connections with homes that 'wow' them right from the driveway." And some may not even walk into the home based on the exterior.
Bottom Line For Your Roof When Selling Your Home
Act like you are the buyer. Ask yourself, "would you want a new roof on this home? Or at least repair any areas that may need it? Then do a roof repair or replacement before selling.
If you know your roof is past its life expectancy, replace it before selling. If you don't, you may just deal with negotiations on price, lack of offers, or a house that takes longer to sell than you had hoped.
Don't let the fear of costs prevent you from replacing or repairing your roof before selling. Instead, call a professional roofing contractor and get an inspection to let you know what is recommended for your roof and how much it will cost.
Accent Roofing Group is a leading professional roofing contractor in and around Kansas City. They have helped repair and replace roofs in Raymore, Independence, Belton, Blue Springs, Lee’s Summit, Overland Park, Olathe, Shawnee, Lenexa, and Spring Hill.
If you are ready to sell your home, call Accent Roofing Group for a roof inspection and get your house ready for it’s big selling debut!
Disclaimer: Disclosing any known roof damage or leaks is legally mandatory in some states. Know your state's laws and requirements.
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