When you are looking to sell your home, there are a number of different home improvement projects that you can do to make sure that your home will be easier to sell and that you will get a buyer in the door in no time. One of the options that you should consider working on is replacing the roof.
In some cases, it is an easy decision to replace the roof of the home. For example, if you look at the roof and it has giant gaping holes in it, then choosing whether to replace it can be an easy decision. Many roofs will be somewhere in the middle, with the roof being a number of years old, but not in bad shape. And you may wonder whether it is worth your time to replace the roof or save it for the next buyers.
Why Your Roof Matters
A roof that has been damaged can be costly to fix and will rank low on the things that a homeowner will want to spend their money on. Because these repairs can cost thousands of dollars, it is easily something that a home buyer will try to negotiate when it comes to purchasing the home. You can refuse to do it, but the buyer may decide to walk away and not purchase the home at all.
Savvy sellers will understand that if they don’t put in the time to fix the roof, and the roof needs the work, then the buyers will walk away from the agreement or they will expect that they can pay less for the home. But paying for the roof can be expensive and you may not be able to get the full amount of the roof back when you sell it.
In fact, Remodeling Magazine reports that the return on investment of a roof replacement will average 53.4% for a full replacement and 61.7% for a minor rehab. But refusing to do the work at all can cause you to lose out on the sale of your home in the first place.
How to Decide Whether to Replace the Roof?
The best way to figure out where you stand with the roof is to take stock of the home, how the current real estate market is doing, and the nearby sales activity. As with any of the major systems in your home, you need to know as much information about them as possible before you even list the home.
Some homeowners will do this by having an inspection from a local service provider before they list the home. This lets them know what major and minor problems are present and then they can decide how to get it fixed. The minor stuff can usually be left out, but if there is something major, you will have more time to shop around and save to get it fixed, rather than rushing to get it done by closing.
If the inspector notices that your roof is in major disrepair, then this is probably a sign that it is time to get it replaced. You can talk to your insurance company to see if they will help with some of the costs and then look at the different contractors to find the one who will do a great job and make the house look great.
How Much Damage is On the Roof?
If the inspection does reveal that there is some damage with the roof, then you need to bring in an expert to give you an estimate on the cost to get it fixed. Keep in mind that the costs can vary by provider, so talk to at least three specialists to get a range of quotes and see who is best for you. Knowing the costs can help you get a better idea of what you can afford and then. You can make a plan on how to get the roof fixed and ready to go for the sale of your home.
Why Should I Spend Money on Roof Repairs?
The biggest reason why you may want to choose to spend money on the roof of your home when selling is to sell the home as fast as possible. A home that is well-maintained will have the potential to sell faster than others because they provide one less issue for the buyer to worry about and they show better when someone comes and takes a look at the home.
If the useful life of the roof is going to come into question when you are ready to sell the home, then it makes sense that you would hire someone to do maintenance service or replace the roof. You can then certify from them that the roof has a certain amount of time left before it would need more work again. This can take away some of the doubts that the buyers would have and can make it easier to sell. If you can do a full roof replacement, this can really entice the buyers to take a look because they know the roof will be good for a long time to come.
Avoiding Liens on Your Home
If you do decide to replace your roof before you sell your home, it is important that you pay off the contractor and make sure that your debts are handled before closing. If the contractor is not paid, they may be able to place a lien on your property and this can cause problems with the sale of your home.
Many buyers will hire a title company, like Sunnyside Title Company, to look over the title of the home and make sure that it is free and clear before they make a purchase. If something is wrong with the title, you will need to get it fixed or the buyer will no longer purchase the home. Setting up an agreement with the contractor ahead of time and avoiding non-payment before the close of the home will help the process go smoothly and can make the real estate transaction go as smoothly as possible.