What’s with the roof, anyway?
Of all the enjoyable things to do with a home, you are about to sale spending your income on repairing or even reroofing it is not even one of the least favorite thing to do. This is because of the high cost that accompanies it, as it’s also a key factor when negotiating for a sale of any house. You must have heard of the different types of roofing thus from cheap to expensive so does the roof condition matter. According to a survey conducted by the remodeling, magazine discovered that on average an entire roof replacement has a return of roughly 54 percent while a small rehabilitation gives a 61.7 percent on the return on investment.
So, what should I do?
By getting to know your homes worthy, surrounding house sales activity and the current market. As it’s with every other commodity thus be it your electrical, air conditioning, plumbing, motor vehicle or any other item. It’s a great idea to have all the information about the item before putting it out there on the market, so is your home. Before listing get a local house inspector to inspect for you understand what really matters to the prospective buyers or even lenders. If the inspection indicates any issues to do with the roof be it small or big, then that’s something you should worry about.
How bad is it?
If from the inspection report there is a roofing issue, contact an expert in the field to explain to you the total cost of the repair. Repair cost can be different, so ensure to contact more than two roofing contractors for you to settle with the one with a fair price. With the cost of repair, you will be able to know how much you will increase the sale with and if it’s within your reach. Note that without repair this will negatively affect your final price.
Why to should you go for repair before a sale?
Spending your money on the roof repair gives your house a maintained look hence your sale might be quicker as they give a good picture most especially when the potential buyers visit them. If you paid the roofing expert and certified the roof for additional years let’s say 3 to 5 years. This information will take you a long way in clearing any doubt to the buyer on the roofing condition.
Factors that can lead to selling as it is
The first reason might be because you cannot afford the repair or lack of sufficient time. This decision will consequently impact on the final price. For those in competitive estates, there are high chances that buyers won’t give much focus on the dents which as a result leads to the final price sale not interfered with. Alternatively, you can price your home lower to attract a high number of buyers resulting in a bidding war. In a bidding war scenario, buyers are expected to inspect the home being sold before giving their offer. This means if your house is priced between medium and low price, repairing your roof shouldn’t be on your worry list.
The selling it in its current condition about the loan approval. If the repair to be done a minor one, this cannot affect the final price but if the house needs reroofing entirely the repairs will be catered by the seller. In rare circumstances do buyers chip in but as it is it’s rare.
Before selling your house, the roof condition matters. If its usefulness is almost over its recommended, you get a replacement. Repair if necessary and this decision should be backed by a status of the market, similar sales, and how fast you need to make this sale.