How to Determine Whether You Should Repair or Replace Your Roof When Selling Your Home
Step 1: Get a Home Inspection
A home inspection, which can cost around $500, will allow you to find several issues with your home, including your roof. As reported by Fox Business, getting the home inspection puts the power back in the seller’s (your) hands.
Assuming the inspector finds a problem with the roof, then you’ll need to…
Step 2: Get a Roof Inspection
A roofing expert will find out if you need to repair or replace the roof and how much each of those options cost. Once you know that, you can go from there. Don’t know what roofer to call? Well, if you’re in the Phoenix or Tucson area, Lyons Roofing can certainly help. Contact us for a roof inspection.
You can also check out this guide: 3 Simple Steps to Choosing an Arizona Roofing Contractor
Does the Roof Need Replacing?
If your roof inspector discovers that you need a new roof (as in, the roof is beyond its usable life), then you should replace it before selling your home. Otherwise you may block a successful close.
You see, if a buyer is taking out a loan to buy the home, the lender will make the roof replacement or major roof repairs a condition for approving the loan. Then the repairs typically fall to you, the seller, to complete.
Replacing isn’t all bad since you’ll recoup much of the cost when selling the home. According to the 2015 Cost.vs. Value Report, replacing a roof in Phoenix costs $18,212 on average. And you’ll recoup $14,391 (or 79%) of that replacement cost. Not bad!
Of course, the actual replacement cost depends on the type of roof you have. For example:
- Concrete tile: Generally costs $300 to $600 per square (new roof: $7,500 to $15,000)
- Clay tile: Generally costs $700 to $1000 per square (new roof: $17,500 to $25,000)
Does the Roof Just Need Repairing?
Choosing to repair the roof or not depends on a few factors.
- How quickly you want to sell the home— If you need to sell fast, then consider repairing the roof.
- How competitive your area is— You may get lots of buyers, in which case you have the upper hand and can negotiate, making the roof repair a non-issue.
- If insurance will help cover the bill— If you’re missing tiles or shingles caused by a storm, file a claim with your insurance company to see if they will help you foot the bill.
- If you’re willing to price your home lower— This could actually work in your favor since it could attract more buyers, giving you leverage to negotiate.
The cost to repair your roof will vary. But in Phoenix, a roof repair can range from $375 to $2,000+ depending on the roofer, roof type and scope of the problem.
Want more information? Contact Lyons Roofing for help.