Replacing your roof is a major endeavor. Big repairs like a whole new roof require planning and thousands of dollars.
If your roof is in bad shape, it can become a negotiating point when selling your house. Prospective buyers will likely angle for a discount or repairs before closing the deal.
Before you make a decision about your roof, take a good look at your house and your local market. Get your roof inspected, so you know everything about it before your house goes on the market. Look at your local laws — some state and localities have specific laws about inspections and repairs that must be completed prior to selling.
For some people, it makes sense to add a new roof before putting their home on the market; for others, it doesn't. Here are some things to consider when trying to figure out if you should give your roof a makeover before selling your home.
Should You Replace Your Roof?
Depending on the specifics of your home and your local market, replacing or making major repairs to your roof before listing may make sense.
Replacing a roof is an expensive endeavor, but it also comes with a lot of benefits.
A new roof gives a house an instant makeover. Curb appeal is a big part of selling a house and your roof is one of your home's most prominent attributes. New shingles add color, texture, and life to any home, and make it pop when potential buyers pull up for the first time.
A new roof also adds value to your home. Whether the value you gain is more than the cost of your expenses depends on the specifics of your home and local market. The cost of the replacement and value it will add depend on where you're located.
If your roof is in really bad shape, you should probably replace it before you list your house. Essentially all mortgage lenders require a thorough home inspection before they finance a final sale — and an unreliable roof can be a breaking point. If your roof needs major repairs or is unlikely to hold up much longer, the lender may require repairs as a condition of approval.
How Much Does a New Roof Cost?
The cost of your new roof or roof repairs will depend on where you're located. Some roof repairs are minor and cost as little as $150. However, replacing an entire roof will cost you thousands.
Nationally, a new roof usually falls in the range of $6,600 to $9,000.
Of course, the exact amount of the replacement will depend on a number of different factors. The materials you use, modern features you install, the steepness, or pitch of your roof, the number of layers, local code requirements, and the size of your home can all create major variances in cost.
How Much Value Does a New Roof Add?
A new roof will increase the value of any home, but your return on investment will depend on a number of things.
Before you make a decision, bring in an expert to take a look and layout your options. The first thing you need to figure out is exactly how much your new roof will cost.
The next step involves figuring out how much value your new roof will add. This depends on the specifics of your home and your market. At this step, you should do a comparative market analysis, to see how your house stacks up to the competition.
When you conduct a comparative market analysis, or CMA, you compare your home to similar properties in your town or neighborhood. It's one of the most accurate ways to figure out how much your home will be worth on the open market.
A new roof can add tens of thousands of dollars to your sale value, but whether or not you'll be able to get that much will depend on the specifics of your property and your market.
Thinking About Adding a New Roof Before You Sell?
Have you talked to a real estate agent about whether to add a new roof before putting your home on the market? Local realtors are in the best position to give advice on whether it makes financial sense to replace your roof before you sell.
Clever Partner Agents are all top-rated in their areas and can help you sell your home for a fraction of the price of traditional real estate agents. Partner Agents will also help you conduct a comparative market analysis for your property, free of charge.
Contact us today for a free, no-obligation consultation.