Do I Need To Fix My Roof Before Putting My Home On The Market?
When helping sellers put their home on the market one of the most common questions and concerns we hear is, will I need to fix my roof before I put my home on the market? In this blog, we will discuss the different variables that you as a seller will encounter and what options you may have in regards to your roof.
If you are thinking about putting your home on the market, there is a good chance you will have some repairs that you will need to take care of to get your home ready for sale. One of the most dreaded home repairs and expenses many homeowners will have to invest in is the roof. The roof is an essential component of the appraisal and inspection process, and it can make it nearly impossible for you to sell your home if the necessary repairs are not made.
How Do You Determine If Your Roof Needs To Be Serviced or Replaced?
According to Jason Payne from Gryphon Roofing, the age of your roof is a big factor in determining whether your roof may need to be serviced or replaced. Depending on the type of roof you have, its expected service life will be different. An asphalt shingle roof can be expected to last over twenty years; whereas, a tile roof can properly function for twice as long. At the same time, even though roofing tiles may be intact, the underlayment may need to be replaced after 25 years.
Jayson also states that the top 6 most common repairs that he often encounters and are a must before putting your home on the market are the following:
- Replace the broken/cracked tiles
- Secure all of the loose and slipped tiles
- Replace the broken mortar packs
- Remove the debris from the valleys and gutters
- Secure all of the pipe jacks and roofing penetrations
- Repair and remove any and all wood rot as that will definitely be a red flag
These repairs are not only essential to the curb appeal of your home but are also an important factor if you want your home to pass the inspection without issues and have your home appraised at value.
For more on what a typical roof inspection entails, follow Jayson through one of his roof inspections as he explains the process and the factors that help him determine what repairs need to be done.
How Does The State Of Your Roof Affect The Sale Of Your Home?
More Time on The Market
An old or damaged roof can really bring down the curb appeal of your home. If potential buyers are already hesitant from the driveway, chances are they will pass up your home and keep driving. Especially in sought after neighborhoods or a very competitive markets, that means you may be waiting longer to receive an offer than your neighbor down the street with a “Brand New Roof.”
The Value of Your Home
This is a tricky subject, many people will tell you that a brand new roof will add value to your home. The roof is considered part of the structure of the home, because of that, it doesn’t exactly add resale value.
However, it can devalue your home if you decide to sell as-is. Opting out on making any roof repairs can have a significant impact on the final sale price, as you will likely need to lower your asking price to compensate the potential homebuyers on what they will need to pay to repair the roof, thus bringing down the value of your home.
In a competitive market and neighborhoods with high demand, a brand new roof can be a great investment as it can be utilized as a marketing strategy and in return you are more likely to receive an offer faster and at value.
A roof that is near the end of its lifespan or has endured severe damage can potentially cause problems with your buyer’s lender. Specifically, if the homebuyers have finance through one of the following types of loans, Federal Housing Administration or Veteran’s Administration loans. These type of loans tend to have many requirements that the home has to meet and many lenders will require all major roof repairs to be done before closing as a condition of loan approval.
If the buyer has financed through a conventional loan or is paying cash, it will be easier to negotiate and proceed with the sale transaction without having to make major or any roof repairs.
We hope that this helps you make an educated guess on whether your roof needs to be replaced or is just in need of some tlc. We always suggested contacting an expert that can help you plan and find the best option for you and your financial situation. For more information on the services that Jayson Payne, from Gryphon Roofing offers, check him out at gryphonaz.com