Should you re-roof your home before putting it on the market? It's always a consideration and can certainly affect the sale of your home, as well as the buyer's offer. Here's what you should keep in mind before listing your home in the competitive residential sales market.
Curb Appeal
It doesn't matter how beautiful your home is if you can't get a potential buyer to step foot inside. A dingy roof looks neglected and unappealing from the street view. In order to make your home as attractive as possible, you should always look at its external appearance. If you have algae or mold on your rooftop, you'll most likely attract a buyer who considers your home a fixer-upper, or you'll potentially turn off those ready to make a sound investment who don't want to worry about potential home repairs later.
Consider the Current Sales Market
Your real estate agent can help you determine whether re-roofing your home is a good idea in your current sales market. Location, demographics, and market conditions must be factored into the decision. In some cases, it's easier to negotiate the sales price or to split the cost of repairs. However, in a competitive market where other homes in your area have sold quickly, a roof that needs replacement can hinder how quickly your home sells. And don't forget potential buyers might low-call their offer with the intent of repairing the roof themselves.
Loan Approval
In addition, to curb appeal and sales price, you need to consider the loan approval process for a potential buyer. While minor repairs are usually not a requirement, a damaged roof will likely need to be replaced as a condition on the loan. This means that your buyer will not be able to complete the sale without the seller fixing it first. Because this might not be an expense you planned, especially if you're selling the property "as is" you might be forced to work with cash-only buyers if you don't want to re-roof your home as a condition for loan funding.
As-is Pricing
If you've decided to nix re-roofing your home you may want to consider as-is pricing and set it lower. This can work to your advantage as it may attract multiple buyers into a bidding war. If you price your home in the mid-to-low range compared to other nearby homes for sale, you may not have to worry about repairs at all.
Need Expert Advice?
Heritage Construction has been roofing Texas communities since 2011. In fact, we've probably been in your neighborhood. If you're ready to list your home for sale you should be aware of any roof damages prior so that you can be prepared to negotiate. Contact us today to book a free 25-point roof inspection. Because sometimes surprises aren't always a good thing! (Especially when you want to sell your home quickly at the max dollar.) We can help.
