Before Putting Your Home on the Market, You Need to Consider What Needs Fixing.
If You’re Selling Your Home, What Should You Do About Your Roof?
Are you thinking about putting your home on the market? You might want to consider some improvements to garner a higher price. Now, while a roof replacement is a considerable expense, it will not only make your home look more appealing to prospective buyers but could also increase your overall market value.
The following information includes things to consider when deciding whether or not to fix or replace your roof:
Get a Home Inspection
First, hire a local home inspector to evaluate your home for possible issues. The inspector will check your foundation, electrical and plumbing systems, appliances and roof. If he or she finds any roofing problems, you’ll need to delve into the issue further.
Determine the Return On Investment
To help decide, figure out how much of the roof expenses you’ll recoup when you sell your home. You can expect to get back about 72 percent of a midrange roof replacement and nearly 63 percent for an upscale replacement, according to Remodeling Magazine.
So, why make repairs if you won’t get the entire cost of the investment back? Fixing your roof will help sell your home faster. A well-maintained home looks more appealing to prospective buyers and many like that the roof has been recently repaired or replaced.
If your roof’s at the end of its useful life, the best bet is to replace it before selling.
Selling Without Roof Repairs
If you can’t afford roof repairs or don’t want to put in the time and effort, you’ll need to sell without the fixes. Know that this will affect the sales price.
Sometimes selling a home at a low price compared to other neighborhood homes for sale works in your favor. In competitive markets, buyers might jump at the chance to score a home at a lower cost and may overlook minor roof problems.
However, keep in mind that major roof issues may cause problems with your buyer’s lender. Many lenders require major repairs be made before closing. If this happens, you may have to make the repairs anyway.
The Information Above was Found On angieslist.com