Should I Replace My Roof Before Selling My Home?

There are several schools of thought on this age-old question. Should I replace my roof before I put my home on the market or should I let the buyer worry about it? Your decision should ultimately depend on the housing market in your area, the condition of your roof and your own financial situation.

If you’re trying to sell your home in an area of high market saturation and need to set your home apart from the competition, replacing an old, worn out roof may differentiate your home from other, less well-maintained houses available in the area.

When mortgage companies send out an appraiser to ascertain a property’s value, one of the things they examine is the roof. If the roof’s integrity is compromised there’s a risk the mortgage company won’t even approve the loan. In that case, the seller will generally be forced to repair or replace the roof before the buyer can even make an offer.

If the roof is so compromised that it’s leaking you will definitely need to at least repair it, preferably before you begin showing the house. Buyers will look for things like water damage and stains on the ceiling from past leaks, so it’s definitely in your best interest as a seller to repair the roof and any damage previous leaks may have caused.

The last thing anyone wants to do is finance repairs for a house they are selling. If you were to finance a roof replacement with a home equity line of credit you would obviously need to pay it off before you sell your home, which somewhat defeats the purpose.

If you can prove existing roof damage was caused by a storm, such as blown off shingles, you may be able to get your insurance provider to pay for some or all of the repair or replacement costs. If you can’t afford to make repairs out of pocket it’s likely best you negotiate with the buyer to factor in future roof replacement or repair costs into the selling price.

Before you make any improvements to a home you’re selling, whether they’re elective or maintenance-related, it’s always a good idea to get an idea of the return you’ll get for the improvement. Generally, when it comes to maintenance investments, you likely won’t recoup 100% of the cost, as it’s not really a functional improvement like a new kitchen or bathroom may be. In Washington, the average seller recoups about 80% of a roof replacement’s cost in the sale value.

For example, if you spent $6,000 on re-roofing you can expect your home to sell for approximately $4,800 more than it would if the roof were in a severe state of disrepair.

If you either don’t want to or simply can’t afford to pay for repairs you may be able to defray the cost for the buyer by lowering the sale price during negotiations. If the cost of replacing the roof on your Spokane home is $6,000 you can offer to reduce the asking price by a percentage of that cost. You likely won’t need to reduce the asking price by $6,000 but you may want to start at $1,500 and negotiate from there.

Your negotiating position will be heavily impacted by inventory in your area. If the homebuyer has a lot of good options you’ll likely need to sweeten the deal more than you would if the buyer really wants your home and has few alternatives.

If you are considering selling your home and want to know the condition of your roof and how much life may be left in it, call Alpine Construction at 509-448-8099 to schedule a FREE estimate. We would be happy to give you an honest appraisal of your roof’s condition and estimated costs for repairs or replacement. Our roofing professionals can also give you an idea of how buyers, inspectors and appraisers may perceive your roof and whether or not you can expect your home’s roof to be a point of contention during the home selling process.