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House prices have been surging, and many people are choosing to cash in on their investments by selling their home. However, over time their homes have deteriorated in many ways, and getting them fixed up and ready to go for sale is sometimes a difficult task. But when it comes to pre-listing repairs, far too many people tend to ignore the roof over their head. Buyers are looking for a home that’s going to protect them, and nothing sends them running for the hills faster than a roof that’s in desperate need of replacement or major repairs.
This brings up a question we receive quite frequently: is it better to invest in roof repairs now or try to sell the home for cheaper in “as-is” condition? The answer isn’t always so cut-and-dry, as everyone is in different situations with different roof conditions and different selling timelines.
Attracting a Buyer
Any good listing agent is going to promote the selling points of your house, but if you think you’ll be able to hide a roof that’s been neglected or has outlived its lifespan, then you’re in for a rude awakening. Buyers are not fools, and they’re going to ask questions about the most important parts of your home, including your roof. If they don’t, they’re going to get a home inspector who will find it, at which point you could see the deal completely fall apart.
On the flip side, being able to advertise in the listing that your roof is new is like a moth light to buyers: knowing that they won’t have to worry about the condition of the roof over their head for the next several decades is an extremely nice benefit—one which many buyers are willing to pay extra for. So believe it or not, investing in your roof now may actually net you a better final price and even help sell your home faster.
On a Time Crunch
Let’s take a look at two different scenarios as a seller. First, you’ve had your offer accepted on a new home but you can’t go through with it until your current one sells. In this case, you won’t have an unlimited amount of time to sell your home, so the more you can do to speed the process along, the better. When this is the case, it may be worth investing in the roof repairs—being able to say your roof is certified or even brand new with a warranty will increase its value and attract more buyers, which is something you might need on a time crunch.
Second, let’s say you’re in it for the long haul. You’re not in any hurry to sell your home, as you’ve purchased your new property already, and you simply want to get the best deal you can for your property. In this instance, it’s not necessarily prudent to spend an abundance of money which you then may not necessarily recoup from the sale. Or perhaps you can’t necessarily afford the cost of your new roof outright and don’t want to go into debt to finance them. In this case, you may be better off listing your home as-is and then negotiating with your buyers. You may be surprised—if the rest of your home is in good condition, you may be able to split the cost of the roof repairs with your buyer and save yourself a bundle on it.
Have your roof inspected by a professional Phoenix Roofer or schedule repairs before selling your home by calling Lyons Roofing at (520) 447-2522 today!
