4 Reasons To Replace Your Roof Before Listing Your Home For Sale
If you're putting your home up for sale, you may be wondering if it's worth replacing your roof before listing it on the market. Buyers typically expect a home's roof to be in good condition. A roof that leaks or is near the end of its usual lifespan presents a massive obstacle for buyers — buyers often do not want to make expensive repairs the moment they move in to a new home.
While replacing your roof is a major investment, it makes the selling process much easier and may even help you receive a higher price for your home. To help you make the decision, here are four good reasons to have your roof replaced before you put your home up for sale.
1. Stops Water Damage From Ruining Your Home's Value
When your roof is nearing the end of its lifespan, leaks are more likely to develop. A leaking roof can ruin your insulation, cause severe water damage and invite a serious mold infestation in your home. You don't want your roof to begin leaking while your home is up for sale — the problems that arise from a leaking roof will significantly reduce your home's selling price and cause buyers to look elsewhere for their next home. Replacing your roof prevents leaks along with their catastrophic effects on the value of your home.
2. Prevents Buyers From Negotiating a Lower Price Due to the Condition of Your Roof
Many buyers don't have the funds available to immediately replace the roof as soon as they move in. Both buyers and their home inspectors will check the condition of your roof as part of the selling process — if a buyer finds that your roof is in poor condition, they may require that you significantly reduce the selling price of your home or they may require that you replace the roof yourself. Not only does this reduce the amount of money that you receive from the sale of your home, but it can make the selling process more complicated due to the negotiations required. Replacing the roof on your home before you put it up for sale will simplify the process and stop buyers from asking you to reduce your selling price due to the condition of the roof.
3. Allows Buyers to Easily Obtain a Mortgage or Homeowners Insurance
If your current roof leaks or is near the end of its expected lifespan, buyers may be unable to obtain a mortgage for your home. Some financial institutions will refuse to mortgage a home with a leaky roof or one that needs immediate replacement. This significantly reduces your pool of potential buyers, which makes it more difficult to sell your home.
Similarly, homeowners insurance companies will often refuse to insure a home with a leaky roof or one that is very old. Many buyers are aware of this, and will avoid homes with roofs that are in poor condition — they don't want to go through the hassle of trying to find a homeowners insurance company that will take a chance on an old or leaky roof. This also cuts down on the number of people who will be interested in purchasing your home.
When you replace your roof before you place your home on the market, you avoid the possibility that buyers will run into problems with their bank or their homeowners insurance company, which will entice more buyers to consider buying your home and make the sale go more smoothly.
4. Improves the Appearance of Your Home's Exterior
Finally, a new roof will improve the appearance of your home's exterior. Having a beautiful exterior helps to bring in more potential buyers and helps your home sell faster. It can even aid you in selling your home for a higher price. On the other hand, a roof that is in visibly poor condition can cause buyers to avoid your home entirely.
Before you put your home up for sale, call a professional roofing replacement service for a roof inspection. A roofing contractor will come to your home and evaluate the condition of your roof — if it's in poor condition, it's likely that the roof will dissuade buyers and reduce the selling price of your home, so you should seriously consider replacing your roof before selling your home. Contact a service like AlphaOne Exteriors for more help.