When selling a home, you need to weigh the cost options for improvements before deciding what to tackle. Sometimes, making a major repair is a good investment and will increase the selling value of your home. Other times, it just makes sense to let the new homeowners handle the repairs and sell the house for less money. Let’s take a look at some of the important questions to ask when determining if a roof replacement is right for you.
Do You Own Your Home Outright?
If you already own your home and are not making mortgage payments, you might be able to get away with not repairing the roof. Taking a loss on the price of the home is sometimes easier than taking the upfront cost of repairing the roof. But, if you still have a mortgage payment on the house, you might need to recoup some of the costs with a higher selling price. Installing a new roof can increase home value and will give your buyers another good reason to purchase your home.
Do You Need a Loan?
You can use a home-equity loan to repair the roof on your home, but, once the home sells, the loan must be repaid in full. Taking out a loan to fix the roof might actually hurt your profit margin and cause another headache. Think carefully before you take out a loan if you are putting your house on the market any time soon.
Is the Roof a Negative Selling Point?
If potential buyers take one look at your roof and walk away, it might be a good investment to replace it. If the roof is leaking or causing other damage inside the home, buyers may have a hard time getting a mortgage to purchase. In this case, it is probably a good investment to replace the roof. In the homeowner’s mind, it’s one less challenge.
Another good idea is to look around your neighborhood and compare the homes for sale. Is everyone offering a house with an older roof, or is there competition? One way to stand out and to draw in more potential buyers is to install a new roof. It will give your listing a higher value and entice more potential homeowners to come take a look.
Some repairs you can forgo when selling your home, while others you can’t overlook. Adding a new metal roof on your home will entice buyers and help to increase the value of your home. By adding a metal roof, you are offering new homeowners peace of mind for the next 50 years, and Erie Metal Roofs offers a transferable warranty that stays with the home. Talk to us today about how a new metal roof can help your home sell faster.