When you’re selling a home on 30A, your Realtor® will walk you through the things you need to fix and improve before you list it – but what about your roof? Should you fix it or replace it before you sell the house?
Here’s what you need to know.
Should You Replace the Roof Before You Sell Your Home?
Buyers think about roofing when they purchase a home – and because roof replacement is so expensive, they might shy away from a home that needs one.
Your best bet is to get a free roof inspection from a local contractor. Then, if the inspector says you need a new roof, get a second opinion. (Let the second inspector know that someone already told you that you need a new roof.)
If the home does need a new roof, here’s what to ask yourself:
- Would you need a loan to pay for it?
- Is your home likely to receive multiple offers?
- Will leaving the roof as it is cause more damage?
#1. Would you need a loan to pay for it?
If you’d need to take out a home equity loan to pay for a new roof, you may not want to purchase one. Remember, you’ll have to satisfy that loan when you sell the house. If the roof desperately needs to be repaired, you might consider taking some money off your asking price. Talk to your Realtor first, though.
#2. Is your home likely to receive multiple offers?
If there are few homes for sale in your neighborhood, but there have been bidding wars on the ones that have sold, you might want to skip the roof replacement. Ask your Realtor about the condition of the homes that have recently sold and whether they sold over asking price (a sign that there were multiple bids on the same home), and take that into consideration.
If your home isn’t likely to receive multiple offers, a new roof can be a big incentive to buyers.
#3. Will leaving the roof as it is cause more damage?
If the roof is seriously damaged and is letting water leak into the house, you need to replace it – if you don’t, it’ll cause damage to your home’s structure. You could end up having to repair that and replace the roof, so it makes sense to replace your roof before you sell in this case.
One other thing to remember: Buyers might have a hard time securing financing (i.e., getting a mortgage) if the roof is badly damaged and needs to be replaced. Lenders don’t like taking risks!
Are You Buying a Home Along 30A?
If you’re thinking about buying a home for sale on 30A, we can help you. Call us at 850-213-3048 to tell us what you’re looking for – we can help you find it.
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