Once you’ve decided to put your home on the market, you have to look at the condition of your HVAC system, plumbing, and roof, among other things. If your roof is past its prime, should you invest in putting on a new one? Will a repair suffice? Oaks Construction takes a look at how your roof affects selling your home.
Impacting Your Sale Price
When deciding to sell your home, determine the current market value based on home sales in your area. Next, take a look at the primary operations in your home. Buyers will be looking at your HVAC system, electric, plumbing, appliances, and roofing. You may want to ask a local home inspector to help you determine what areas may be called into question by buyers, realtors, and lenders.
If there are issues with your roof, you’ll need to discuss whether you are a candidate for repair or replacement with a roofing professional. From there, you’ll need to get quotes for cost and determine whether you wish to assume those costs before listing your home. If you choose not to, you may have to adjust your sale price accordingly during negotiations.
Selling Without Repairs
If your roof needs to be repaired or replaced and you choose not to, the final sale price may be affected. If there is a lot of competition in your local housing market, buyers may be willing to buy your house as-is — even with roof issues.
When selling your home without roof repair or replacement, be aware that if a potential buyer uses a lending institution to finance their purchase, their ability to get a mortgage may be affected. If loan approval hinges on making roof repairs, you may find that you are required to make the repairs or replace the roof before closing. You cannot count on the buyer assuming or splitting the costs with you.
Replacing Your Roof
Replacing your roof will definitely increase your home’s value. If you are looking to replace your roof before selling your home, or if you would like an evaluation of your current roof, contact Oaks Construction at 585.247.OAKS.