When selling a home, you want to ensure that everything possible is done to maximize the value. You might add a fresh coat of paint, spruce up the landscaping, remodel the bathrooms, and tend to any necessary repairs. Depending on the house, several things can be done to increase the value before listing the home. However, many homeowners overlook one significant factor – the roof. The quality and condition of a roof impacts the value and overall sale of the home in
Curb appeal is the first impression and is arguably the most significant factor when selling a home. Properties with great curb appeal tend to sell faster, have a higher value, and are overall more appealing to potential buyers. A new roof can significantly add to the curb appeal of a home, attracting more interest from buyers and increasing the value. In contrast, an older or damaged roof may have the opposite effect, as it is less attractive. Therefore interest may be discouraged, and the value is negatively impacted.
Once a potential buyer’s interest is piqued, they will evaluate the overall condition of the home. A well-maintained home is less likely to need costly repairs, making it more desirable. A roof that is in good condition indicates proper maintenance. This encourages buyers to feel confident that other areas of the home have been maintained as well.
Inspection failure is one of the biggest risks that a homeowner faces when selling their home. While leaks and other roofing issues may not be evident to potential buyers, a housing inspector will identify any damage or excessive wear. During a home inspection, the roof is thoroughly inspected for mold growth, loose or missing shingles, holes, gaps, cracks, overall life expectancy, and condition. While minor issues may be remedied, the process may take extra time. On the other hand, bigger issues can lead to a failed inspection, causing buyers to back out or lenders to disapprove of a loan.
The cost of homeowners insurance plays a significant role in the budget of buyers. Higher insurance premiums may force buyers to lower their budget, whereas lower premiums allow for a higher budget. Insurance companies pay a lot of attention to the roof. Older roofs typically come with a higher insurance premium. In fact, there are some companies that will not renew a policy if the roof is over 20 years old. However, a new roof can lower homeowner insurance significantly. Because a lower premium is enticing to many potential buyers, the home will likely sell more quickly and for top dollar.
A new or updated roof will increase the value of a home, period. Roof replacement is one of the biggest upgrades that can be made to ensure that your home lists for full market value. However, it is costly, and many homeowners worry if their investment will be worth it. Most experts agree that an updated roof offers the best return on investment compared to all other major home improvement projects. Even if the full ROI is not met,
it will still add substantial value to the house.
Selling Your Home?
When preparing to sell your home, consider the cost of a new roof when assessing the overall value. An updated roof creates several positive selling points and is a smart investment for those who want to sell their home quickly. Even if you are unsure that you will replace your roof, we invite you to schedule a professional roof inspection with Rose Roofing before listing your home. A professional inspection will not only give you the information needed to determine if you need a replacement, but it will also make you aware of any potential problems that may arise during the sales process.