What Should You Do To Your Roof To Help Your Home Sell?
Do you need to repair your roof before selling?
That question gets asked 90% of the time when someone decides to sell their house.
It would be a much easier question to answer if a tree had just put a hole in the roof or a wind storm ripped it off.
Answering that question with a resounding yes is much easier than answering that question when the roof isn't obviously damaged.
Your average homeowner who is thinking about selling is probably trying to rationalize a roof situation that isn't quite as clear-cut.
Instead of fixing a storm-damaged roof, they have to decide if replacing a few random shingles will really factor into their home sale.
Will potential buyers really care about that moss?
Does a 20-year-old roof really need to be replaced, or can you sell as-is?
Those are the more challenging questions that have to be answered.
If you're trying to decide whether to replace your roof before you sell, then read on…
What's The Big Deal, Anyway?
A rooftop in horrible condition can be pretty costly to fix.
Roof replacement ranks very low on the list of things you want to spend your money on after buying a home.
A major rooftop repair can cost thousands, maybe tens of thousands of dollars, and it can quickly become a challenging negotiating point in any home sale.
Savvy sellers know that if they don't fix a roof that needs repair, buyers will expect to pay less.
But there are only a few types of renovations that reliably earn every dollar back when the home does sell.
A typical return on investment for a roof replacement averages 53.4% for a full replacement and 61.7% for a minor rehab for your home value.
Having a new roof will also increase the curb appeal of your home.
How Much Does A New Roof Cost?
If you need to replace your roof, you can expect to spend between $5,00 and $10,000. This breaks down to about $3.50 to $5 per square foot between the removal, labor, and materials.
Asphalt shingles are on the low end of the spectrum, while slate and tile are on the higher end.
These costs will vary depending on your location, the materials used, and your home's size.
It's possible to do the job yourself and eliminate the labor cost.
Still, there are various complications you could encounter, from water damage to choosing the wrong materials for your height and pitch.
This could end up making the job more costly for you in the long run.
For this reason, it's best to leave the job to the certified roofing contractors and hire a pro, especially if you are looking for a good ROI.
Why Should I Spend Money on the Roof?
Spending money on your roof usually means your home will sell faster.
A well-maintained home has the potential to sell much faster because they show better when people tour them in-person.
Also, fixing or replacing a roof is one thing buyers do not want to worry about.
If there is a leak in your roof you need to know if it means a repair or replacement. This is why you need to have regular roof inspections.
If your roof's life could come into question when you sell, you can hire a roofing specialist that can do a maintenance service.
After the service, they can certify your roof for an additional three to five years.
That certification will stand up against any doubts about how many years your roof has left.
If you decide to sell as-is, you have to be sure it won't block a successful close.
Minor maintenance to a roof typically doesn't factor in, but if your roof is nearing the end of its useful life or needs significant repairs, lenders commonly make the repairs a condition of loan approval.
If that happens, the cost almost always falls to the seller, and the repairs have to be completed before close.
If a buyer is motivated, they may meet you in the middle on repair costs, but don't count on it.
5 Tips From the Professionals To Maximize the ROI on a New Roof
If you decide to replace your roof before listing your home, you need to maximize the return on investment you get from it.
Here are a few tips to help you do just that.
1. Don't layer shingles
Some people opt to replace their roof by re-shingling on top of their old ones.
This is faster and cheaper, but it's very shortsighted and can be highly problematic.
Putting new shingles on top of old shingles can shorten your roof's life by up to 40%, trap heat, and add too much weight to your roof.
Buyers, their agents, and their inspectors are likely to notice this during a home inspection and bring up the fact that your roof has a double layer.
It's much better to avoid this hassle and take off your old shingles for a complete roof replacement before laying down new shingles.
And it's better for the health of your roof and your home.
2. Choose roofing materials that fall in the midrange
Buyers can tell if you put in the bare minimum, and they won't pay top dollar for a cheap roof.
Stick to the midrange, and it's a good idea to match the materials with the other homes in your neighborhood.
You should also consider new roofing as a way to invest in your home's insulation and energy efficiency.
Both of those features will matter to your buyer.
3. Check on your roof frequently
You need to maintain the roof between the time you replace it and the time it sells.
Check the roof after every storm.
It's much easier to regularly examine your roof for missing or broken shingles than to deal with water damage from several combined storms before you sell your home.
4. Pump up your marketing materials to show off your new roof as an asset
After a new roof goes on, you and your agent will have to decide whether or not to increase the price of your home.
This is a decision that should be made based on your specific house in your particular area.
But since you're competing with all the other homes in your area, you should do whatever you can to make sure your home stands out.
Make sure buyers know you have a brand new roof!
Buyers will love that they don't have to move in and immediately spend several thousand dollars more for a new roof.
Your agent should make sure that potential buyers know about your new roof and the conveniences that come with it.
5. Offer to transfer the roof warranty to the buyer as a selling point
A roofing contractor should offer transferable warranties after repairs or replacements.
You have to pay a nominal charge, but many buyers don't think to ask.
Offer this transfer to your buyer.
It will barely cost you anything in the grand scheme of things, and having that warranty on your roof could be what clinches the deal.
The Bottom Line
If your roof is beyond its useful life, especially if a storm has destroyed it, then you need to repair or replace your roof before selling your home.
Anything that's less cut and dry requires additional consideration.
You have to consider the level of repair, cost, market conditions, comparable sales, and how quickly you want to sell.
If you're trying to sell your home and need repairs done to your roof, contact TK Roofing and Gutters.
Offering the longest, most dependable warranties on the market, TK Roofing and Gutters is your reliable contractor for your roofing and gutter needs.
With experienced craftsmen, a "customer first" mentality, and affordable prices, TK Roofing and Gutters will make your home improvement projects a breeze.
Call TK Roofing and Gutters at (330) 858-2616 or click below to set up a free inspection and quote!
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