Many homeowners go back and forth with the decision to replace the roof on their home before listing it for sale on the real estate market. There are various pros and cons to doing so, but it all depends on several individual factors. The best course of action to take when deciding to replace your roof before selling your home is to talk to a licensed Indianapolis roofing contractor. They can give you the information and recommendations you need to make a lucrative decision.
In the meantime, continue reading to learn some of the basic pros and cons to replacing a roofing system before selling a house.
The Traditional Rule
Most real estate professionals will tell you that you do not have to replace a roof on a house before selling it on the market, unless, doing so will get you a better price for the property. In some cases, the cost to replace the roof exceeds the additional profit you’ll receive on the house. In these cases, homeowners may want to consider some roof replacement alternatives instead.
In terms of advantages, replacing a roof is a great idea since most buyers look at the roof first. A new roof increases curb appeal, which may allow you to list your home at a higher price point, helping you recover more profit. Furthermore, the roof is a central component to a home, much like the foundation or the siding. When it looks bad, buyers are turned off, scared of the potential problems and costs they may incur in the future. Roofs that are sagging, cracking, leaking, faded, covered in mold, or missing shingles is a red flag for most potential buyers.
A roof in this condition will scare of the major portion of your buyer base. Possible approaches could include permitting an allowance to potential buyers for roof repairs after closing or discount the price to allow for the potential cost of roof replacement. However, many buyers will turn away just so they don’t have to deal with the trouble at all.
By far, the biggest disadvantage of replacing a roof before selling a house is the cost. As a person selling a home, you are already confronted with a long list of expenses, especially if you are moving into a new home. If you are flipping the house, you are also facing several incurred costs, many of which end up unplanned and unexpected.
The cost of a new roof will skyrocket your budget in both scenarios. If you are not going to make back from the roof replacement, it may not be a lucrative approach. There is simply no guarantee that a homeowner will earn back the amount of money invested in a new roof at the time of sale.