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One of the questions home sellers frequently have is whether the state of their roof matters all that much to prospective buyers. While it is impossible to know for sure, you can safely assume that the condition of your roof affects your home’s value and how prospective buyers regard your house.
Here is why your roof matters and why you may want to use the services of an experienced and expert roofing contractor before putting your house on the market.
Curb Appeal
The most obvious way your roof can affect your ability to sell your home is its curb appeal. Your roof is one of the first characteristics of your house that a prospective buyer will notice. A roof that looks brand new and has the documentation to prove recent replacement or repair will attract more people than a roof that looks ready to collapse.
A roof in disrepair, however, is not the only way a prospective buyer might be affected by your roof’s condition. If your roof has any of the following, it might affect the interest of a prospective buyer:
- Moss or discoloration
- Scattered leaves, branches, or debris
- Miscolored shingles and streaking
- Missing shingles
- Damaged flashing
- Broken shingles
- Sagging
- Fading
At the same time, a house in good shape has aesthetic appeal and communicates that it has had improvements.
The First Impression Message
Fair or not, everyone formulates the first impression of people, places, objects, and ideas, and it is very difficult to move them toward a more positive light once that impression gets formed. The law of first impressions applies to your roof and, by extension, your home.
Your roof is critically important to the rest of your house. If you do not care for your roof, what are the chances you take care of your appliances, windows, floors, etc.? You might be diligent in maintaining everything but your roof, but the message it sends to a prospective buyer is that you neglect one of the most important parts of the house you are selling.
Overall Value
If you need more than those two reasons to prompt you to make some roofing improvements, consider how a well-maintained or new roof adds to the value of your home. Adding value to your home can be positive and negative, however.
The Positive
Your home is worth an approximate amount based on what it offers and your local real estate market. If you add to what the home offers, you increase the house’s value. Even better, improvements help add value in two ways: Cost of improvement and perceived value.
Suppose you are selling your home and the flooring in your living room looks worn. The market price of your home will be based partly on the condition of that flooring and how it will add or detract from the house’s market value. If you replace the carpeting, you add to the house’s value, the cost of the improvement, and the perceived value of the new flooring.
The same principle applies to your roof. If your roof needs work, its condition will help set the price of your house. A realtor will assess your house’s value, compare it against the market value of your area and adjust your asking price accordingly. If your house’s roof needs repairs or shows age, your realtor will reflect that in your asking price.
If you repair the roof, the added value will be one amount, and if you replace the roof, the added value will be significantly more. The reason is that a new roof has a much longer lifespan than an existing one in good condition, and repairs add value but less than a complete replacement.
The Negative
While there are no downsides to repairing a roof, there might be some downsides to completing a full replacement. A total replacement may affect the property taxes assessed on your home. That can lead to a buyer evaluating whether the house’s asking price is a worthwhile investment.
In most cases, the increase in local or state property taxes will not be enough to kill a deal. That is only sometimes true, however. In localities where property taxes are already high, an increase can lead to a request by the prospective buyer for a reduced selling price.
Usually, however, replacing a worn roof will justify any increase in tax obligations.
Repair or Replace
If you and your roofing contractor have determined that your house will be enhanced and thus gain value by addressing roofing issues, the next choice is to repair or replace it. There are benefits to both, and the state of your roof should determine your choice.
If your goal is a quick sell, you might want to go the route of repairing whatever is wrong with our roof. Roof replacement is a good choice if you are looking for a larger asking or selling price.
Value From Roofing Materials
For the standard house, traditional shingles and other roofing materials add value to a house, but not so much that the house’s overall price increases by a lot.
Some materials, though, add significant value to a home. A slate roof, for example, will add much more value to a home than standard shingles.
If you opt to replace standard roofing with top-of-the-line roofing with an exceptional warranty, the added value to the home can be significant.
The same concept applies to the appearance of the materials you use on your roof. Roofing designed to enhance certain housing or create a specific look adds a lot of value versus using traditional shingles.
Final Thoughts
Your roof sets the tone for selling your house. If it needs repairs, it will add value to repair it. If it needs replacing, the added value is significantly more, but the costs associated with a replacement will also be more. Contact a qualified roofing contractor today to determine the best choice for you, considering your home-selling goals and needs.
