When it comes to selling your home, it is likely that you have mixed feelings. After all, the home has served you well for several years and you have made some nice memories within its walls. Still, you have your reasons and you have decided that you need to put your home on the market.
Selling your home might seem easy at first, but you may face many hurdles and questions. One of the most common questions homeowners have when it comes to selling is, "Should the roof be replaced?"
If you have asked this question to yourself, you might want to ask yourself these three questions to determine whether you should replace your roof:
1. Do You Fully Own The Home?
Replacing the roof is expensive. If you already own your home completely, you may feel like skipping the roof replacement. Alternatively, you might opt for a roof repair to fix small issues that don't affect the longevity of the roof.
However, if you are still paying on your mortgage you might want to fix the roof. A home with a new roof will yield more money, which will allow you to pay down your mortgage faster.
2. Do You Have a Lot of Competition?
Look at your location and determine the housing market in that area. Homes in coveted areas will usually get multiple offers, even if the home is not in perfect condition. A home may also receive several offers if the homes in their area are all in similar condition; i.e. all the roofs in the neighborhood need to be replaced.
However, if you live in a not-so-friendly neighborhood or the homes in your area are worth more and in better condition, a roof replacement might be a good idea. It will help increase the value and decrease the renovations needed for your home, which will appeal to prospective buyers.
3. Will Your Insurance Pay For the Roof?
Sometimes, home insurance policies will pay for the cost of a new roof. If your home has recently been in a large storm or the subject of a burglary, your insurance may actually pay to have your roof replaced. Even if they do not pay the cost in full, a partial payment may make replacing the roof sound much more financially appealing.
Although you may not want to replace your roof, it may be worth it—especially when you are selling your home. If you do decide to replace your roof, contact a residential roofing professional for an estimate.