Here at GreenPoint Roofing of Longmont, Colorado, a frequent question we hear from customers is, should you replace your roof before selling your home? This week we want to address this issue and discuss the pros and cons of replacing your roof before putting your home on the market.
Most homeowners will make at least some effort to catch up on maintenance in their home and ensure it is looking its best before they attempt to sell it. Replacing the roof is a big job that requires some serious financial and time investment. Keep reading to find out should you replace your roof before selling your home?
Will a New Roof Really Make a Difference?
For homeowners trying to sell their house, a visibly old roof with noticeable damage such as missing or curling shingles, structural sagging, mold and mildew growth is an instant warning sign to potential buyers. The state of the roof leaves a strong visual impression on visitors to your home. Before they even enter, they can be turned off by the sight of a roof in disrepair and may even conclude that the entire home is unmaintained. Some buyers are open to the idea of taking on a property that needs a lot of work, but most will want to be able to move in immediately without putting a lot of extra money into renovations.
If you do invest in a brand-new roof before putting your house on the market, the overall impression made on those viewing the home will be much better. You will not be limiting the potential buying market to those ready to take on a massive refurbishment project. With a new roof, your home will be instantly more attractive, and you can easily set a higher asking price. A brand-new roof will greatly influence a professional evaluation of your home, and this can give the seller better-negotiating power when it comes to finalizing the price.
If I Choose to Replace the Roof
When deciding should you replace your roof before selling your home, there are a couple of things to take into consideration. First, think about the cost versus the payoff. Get some quotes for the roof replacement and make sure the job is within your budget. Then, compare the cost of the full roof replacement to the change in asking price of the home you can reasonably set once the roof has been replaced. If the extra amount of money you can make on selling your home after a roof replacement is greater than the cost of the roof replacement, then it does make financial sense to go ahead and replace your roof. Buyers will consider not only the monetary cost of the new roof but also the value of the time and organization put into the job and the inconvenience of having the roof replaced.
Just because you plan on selling the home does not mean you can cut corners when it comes to replacing your roof. Find a professional roofing contractor with an excellent reputation and plenty of experience. If in doubt, check their online reviews and ask whether they are accredited with the Better Business Bureau to get some idea of their reputation. Check to see if a workmanship guarantee is offered in addition to product warranties. This is another bargaining chip you can use when it comes to negotiating the final price with buyers.
Some homeowners might be tempted to re-roof a layer of new shingles over the existing shingles instead of completely tearing off and replacing the roof. This will be cheaper and less invasive to do, but it may not adequately increase the asking price of your home. A re-roofing job can be seen as rushed, or a lazy ‘quick-fix’ to hide problems without really addressing them. This will also be noted in any home inspection or evaluation done on your home and is generally not looked upon favorably by professionals. A complete roof replacement with neutral colored shingles or tiles will be the most effective in appealing to a wide market and increasing the value of your home.
If I Choose Not to Replace the Roof
When it comes to should you replace your roof before selling your home, homeowners who stick with the existing roof will undoubtedly save a bit of money. If your roof is relatively new and in decent condition, you may not have much to gain by replacing it. Again, you need to compare the cost of replacing the roof to the increase in selling price. If this increase is not greater than the cost of roof replacement, then it might make sense to leave it alone. It may also spare you from the stress of trying to move out of the home while the roof work is in progress.
Leaving your roof as-is allows you to get the house on the market faster. Although the roof replacement itself takes just a few days, it’s not ideal if you really need a quick sale. Houses without up to date maintenance are still being sold at a decent pace here in Longmont and the Denver area. If there are numerous homes up for sale in your neighborhood, you can set the price just below the average in the area to hopefully attract buyers. If you can attract multiple buyers, one may be willing to skip inspection and an extended negotiation, allowing you to sell the home even if the roof needs replacement.
So, should you replace your roof before selling your home? The answer to this question depends on the condition of your roof, the local housing market and how quickly you want to make the sale. Once you have weighed out the pros and cons of both options and worked out the financial benefit of replacing the roof, you should be able to make a decision that makes sense for your situation. GreenPoint Roofing in Longmont is currently offering a lifetime workmanship warranty on all shingled roof replacements. For professional advice on replacing your roof and a free quote, simply contact us today.