When selling your home, you want to make improvements so you can get the best asking price for the property. At the same time, you don’t want to sink in so much money for renovations where you won’t get a high return on your investment. When listing your home with an older roof, you may consider whether its worth it to place a new roof on the house. These are several factors to consider before hiring a Cincinnati roofing contractor to do the job.
What is the Roof’s Current State?
A roof can last for over 25 years up to 50 years depending on the materials, quality of the installation, and scheduled periodic maintenance. Yet many things can impact the roof’s longevity, including harsh weather, pest infestations, damage caused by tree branches, quality of the materials, and other factors.
Hiring a roof inspector can help you determine the current condition of the roof and how long it can last before it needs to be replaced. They may recommend some light repair work without having to partially or entirely replace the roof. If the inspector does not recommend roof replacement for the next 4+ years, then you can avoid this investment.
Most homebuyers will not see this as a breaking point for closing on the property.
If the roof is extremely damaged, then you should invest in a new roof, if possible. You may not be financially able to get the roof replaced, and that is understandable to many buyers who may still place a bid for the home. However, be prepared for their bids to be below asking price.
What If I Decide to Not Replace the Roof?
Several different circumstances can happen if you decide not to purchase a new roof. A buyer may still be interested in the home but will consider the costs that they will have to pay to replace the roof. They may use this replacement cost to offset the price of the bid, lowering it below your asking price.
Other times, the buyer may request that you repair or replace the roof before the closing transaction. This factor can extend the buying process, which may force you to not only pay for a new roof but also to continue making mortgage payments until the house is sold.
What if I Decide on a New Roof?
A new roof can become a great selling point to attract more potential buyers. It can show that you have put the proper maintenance in the home as it is ready to move in. Also, a new roof can increase the curb appeal of the property. People who live in the neighborhood and see that the roof is being worked on by a trusted Cincinnati roofing contractor will take this into account and it may persuade them to place a bid.
If you need roof repairs, replacement, or an inspection, contact the professionals at Brandstetter’s KangaRoof.