When you begin the process of selling your home, one of your first questions may be “What is a fair asking price to list my home?” There are many factors that go into determining a good listing price including looking at the average home cost in your area and the age of your home. Many homeowners preparing to sell their homes want to know whether or not the state of the roof is a factor in determining if their house will be more valuable when put on the market. One question they often have is whether or not getting a new roof installed before putting their home on the market would be a worthwhile investment.
Let’s go over a few factors that can help you decide if it is better to replace your roof before listing your home for sale.
Why Roof Replacements Are Necessary
No matter how well a roof is maintained, eventually it will need to be replaced. Shingles are covered in a layer of granules, which protect them from the sun’s UV rays. Harsh weather of Ottawa that includes Rain, wind, snow, and other inclement weather slowly knocks those granules off, leaving the roof vulnerable to UV damage. Eventually, that UV damage will cause the shingles to fail, and make a roof replacement necessary.
The lifespan of a roof can range from 20-100+ years depending on the material it is made of. With traditional shingle roofs, you should start to anticipate the need for some roof work soon. Therefore, a roof replacement may be requested by potential buyers or recommended by real estate professionals.
If you find yourself in this position, there are several ways a roof replacement can increase the value of your home, which is beneficial when trying to sell.
Higher Listing Price
Replacing your roof before listing your home on the market is of benefit to both you, and potential buyers. It helps reassure buyers that the home has been well maintained, by demonstrating the time and care you’ve put into taking care of it. As a result of this, potential buyers are more likely to invest in the home with confidence – especially those who might have been concerned about investing their hard-earned money into another roof so soon after purchasing yours!
When a seller invests in a new roof prior to selling the home, they are likely to recoup between 62- 74% of their investment and are more likely to receive full-priced offers on their home. If your roof needs repair or replacement, you may be forced to negotiate lower than you hoped to get a buyer to close.
New Roof Increases the Curb Appeal
Roofs are the most important part of a home’s exterior. In order to make your potential buyer fall in love with your home, you need to ensure that the roof looks amazing, especially if there is some damage or stains on it. Doing small tasks like removing leaves and pet hair, fixing broken tiles and areas where tiles have become loose will go a long way at making your buyer see that you care about keeping your own home maintained despite the fact of being away from it on a regular basis through work. Additionally, cleaning stained areas or any damage done by storms and other natural disasters will even make stucco roofs look more attractive and increase the appeal of your home to potential buyers!
An Added Benefit
Potential buyers tend to flock toward a home that has a new roof because they want one with no impending repair problems. Thus, it is necessary to call the costs of replacement into question. It’s additionally beneficial in situations where bidding wars are involved, as well as when two similar homes being considered in terms of price. The priority is placed upon the home that has had a newer roof installed over its older counterpart, as it increases resale value and also brings peace of mind knowing that most issues arising from deteriorating roofs can be avoided before they ever arise with the new roof’s structural improvements.
Replacing your roof before listing your house for sale can increase your house value. A well maintained house can be sold for a higher price as long as it is maintained well. This is why you should contact a service provider such as Parliament Contracting to inspect your roof. If you need a new roof, contact our team of professionals to get started. We have been in business for over 12 years and offer high quality work at the most competitive price per square foot. Call us now at (613) 913-3767 to book an appointment.