Should You Invest in a New Roof if You Are Selling Your Home?

A lot goes into getting a house ready to list. A picture-perfect house can sell faster and demand a higher price. It is important, however, to consider the return on your investment that can be realized with certain home improvement jobs. One job that gives many homeowners pause is a new roof installation. Some question whether it is worth spending the money on a new roof prior to listing their house on the market.

If this is something you are grappling with, an article published by Redfin Real Estate entitled, Should You Repair Your Roof or Sell As-Is?, may provide you with some useful information that can help you answer this burning question.

Some interesting points made in the article include:

  • Remodeling Magazine reports that return on investment (ROI) for a roof replacement averages 53.4% for a full replacement and 61.7% for a minor rehab.
  • You can get a professional roof inspection done to get an idea of what your potential buyer’s home inspector may find. This may help you decide whether a new roof is necessary.
  • If your roof is in good condition, you can ask a roofing specialist to certify your roof for an additional three to five years.  This may make it more amenable to potential buyers.
  • A new roof can enable you to sell your house faster.
  • Sell your house as-is if you cannot reasonably afford to replace the roof, but understand that this may affect the selling price and how long it will take your house to sell. 
  • If you have already bought a new house, paying for the roof replacement may be less expensive than paying two mortgage for several months.
  • If your potential buyer is financing through a VA or an FHA loan, their lenders may not be willing to issue a mortgage for a house with a failing roof so the deal may fall through.

You can learn much more by reading the full article here.

If you are thinking of having your roof replaced, repaired, or inspected prior to selling your Chicagoland home, be sure to call the experts at Baltic Home Improvements for a quote. Our roofing experts have been a fixture in thesouthwestern suburbs since 2004 and our quality workmanship and highly-rated customer service record speak for themselves. Contact us today to learn more.