Do You Have to Repair or Replace an Old Roof Before Selling?
Are you planning to sell your home? You’re not alone.
Every year, over 5 million existing homes are sold in the United States. However, every home sale is unique. Every home commands a different price and the sales process can vary.
What’s clear among all sellers, though, is they want to fetch as much as possible from the sale. But for this to happen, you need to repair or upgrade your home here and there, especially the roof.
If your home’s spotting an old roof, you have a decision to make: repair the roof or replace it. Which way to go?
Continue reading to find the information you need to make a sound decision.
How Old Is Your Old Roof?
Naturally, no homeowner wants to spend thousands of dollars on a property they are looking to offload. Unfortunately, an old roof can make it difficult for you to sell the home quickly and at your desired price point.
But then, how old is your old roof?
This is the first thing you should consider when making a decision on whether to replace or repair.
You see, a roof can be old because it’s been on the home for several years but this doesn’t necessarily mean it’s structurally unsound. In fact, an old roof that doesn’t have major structural issues can give you a couple more years. In this case, you might want to make repairs.
However, if your old roof is almost falling apart, no buyer will be willing to snap up at home, unless you accept their lowball offer. In this case, replacing the roof could be a better idea.
To know the state of your old roof, hire a home inspector. They will compile a report detailing the kind of repairs the roof will need, along with the associated costs.
Can You Afford to Replace?
A new roof can add some thousands of dollars to your home’s value. Not to mention the house will sell faster.
Unfortunately, ripping off a roof and installing a new one isn’t a cheap affair. Depending on the size of your home, style of the roof, and type of roofing materials, you can spend about $20,000.
Can you afford this amount right now? If you can’t, replacing the roof is out of the picture. You can take out a loan to fund the replacement, but there’s no guarantee the home will immediately become more valuable.
When your account isn’t looking up, making repairs is the ideal option. Be sure to find an experienced contractor, such as The Trough Man, to execute the job.
What if you’re unable to fund the repairs? If you have to sell the home right away, then the only option is to sell it as is. There are individuals and companies who buy homes in “as is” condition and they can make you a fairly competitive offer.
Repair or Replace Old Roof? It Depends!
Without knowing the state of your old roof, we’re not in a position to make a good decision on your behalf. But we have given you the information you will need to assess the situation and make an informed decision.
Keep reading our blog for more home tips and advice.
