Can you sell a house with an old roof in Monmouth County?
The majority of times yes you can sell a house with an old roof on top of it. The question becomes whether you want to replace the roof or leave it for the next homeowner to do, just be aware that there are pros and cons to each option. While you can in fact sell a home with an old roof you may not want too, there are many reasons why which we will discuss in this article. If you have considered selling your property over the last few years then you need to make a list of the selling points and pain points at your home. A selling point could be something like new flooring, new carpet, landscaping or a new HVAC system. Pain points for the buyer would be things such as water damage in the ceiling, broken siding and yes and an old. Generally speaking a buyer needs to have more selling points than pain points in order to pull the trigger and buy the home for the asking price (or near the asking price).
The first thing to consider when selling the home with an old roof is the limited number of buyers which can purchase the home. Many first time home buyer programs will not allow the purchase of a home if the roof needs to be replaced, siding is damaged or major repairs need to be done. This means that you can pretty much eliminate all first time home buyers from looking at purchasing the home. Having an old roof on the home also lowers the curb appeal which makes the home look less attractive to normal buyers and appeals to the “house flip” companies which would low ball the price of the home and then flip it for a profit. Since the number of people looking at the home would be reduced it may take longer for you to sell the home which in turn may require you to lower the asking price.
The other reason why selling the home with an old roof can become a negative thing is giving the buyer more negotiating power in the sale of the home. A home with an old roof on it will automatically appear as being open for negotiations, this means that you will have more low offers and people wanting to negotiate significantly compared to if the home had a brand new roof on it. If you do not want to install a new roof on the home before selling then the buyer can negotiate the price of the roof down from your asking price. For the purpose of this article let’s say that you are selling the home for $300,000 and the new roof will cost anywhere from $8,000-$13,000. If you sell the house with the old roof the potential buyer could negotiate the buying price down to $285,000 to cover the cost of a new roof and the time required to begin a roof replacement job. When the majority of buyers see a house with an old roof they will automatically assume that they can get a deal and will try to low ball you as the seller more often .
If you are unsure whether your roof needs to be replaced feel free to call our Monmouth County roofing company today so we can come provide an inspection. Our roofers will be able to determine how much longer the roof will last and if it needs to be replaced before you sell the home. When you hire an appraisal company to come look at the home they will include things such as the roof inside the value of the home. If your roof is very old and needs to be replaced it can hurt the appraisal price while in comparison if the roof is brand new then they will see the home as being more valuable.
Finally if the home you are trying to sell has active leaks in the roof, water damage and obvious signs of rot in the attic your main audience will only be house flipping crews. Like mentioned before, there are many insurance companies who will not insure a new home until an agent has gone out to the property to inspect the roof and make sure it is leak free. Generally speaking if your roof is made of asphalt shingles it will last between 15-25 years at most which should give you a rough idea on the condition of your roof. If you install a new roof on the home before you sell it you can also include phrases such as “brand new roof” which will be a highlight of the property and make it seem more appealing to the buyer. This will help the home sell faster rather than trying to sell it with an old roof. This is why we usually recommend replacing the roof before you sell the home. For any other questions you have regarding roofing be sure to call our residential roofers near Monmouth County today!
The first thing to consider when selling the home with an old roof is the limited number of buyers which can purchase the home. Many first time home buyer programs will not allow the purchase of a home if the roof needs to be replaced, siding is damaged or major repairs need to be done. This means that you can pretty much eliminate all first time home buyers from looking at purchasing the home. Having an old roof on the home also lowers the curb appeal which makes the home look less attractive to normal buyers and appeals to the “house flip” companies which would low ball the price of the home and then flip it for a profit. Since the number of people looking at the home would be reduced it may take longer for you to sell the home which in turn may require you to lower the asking price.
The other reason why selling the home with an old roof can become a negative thing is giving the buyer more negotiating power in the sale of the home. A home with an old roof on it will automatically appear as being open for negotiations, this means that you will have more low offers and people wanting to negotiate significantly compared to if the home had a brand new roof on it. If you do not want to install a new roof on the home before selling then the buyer can negotiate the price of the roof down from your asking price. For the purpose of this article let’s say that you are selling the home for $300,000 and the new roof will cost anywhere from $8,000-$13,000. If you sell the house with the old roof the potential buyer could negotiate the buying price down to $285,000 to cover the cost of a new roof and the time required to begin a roof replacement job. When the majority of buyers see a house with an old roof they will automatically assume that they can get a deal and will try to low ball you as the seller more often .
If you are unsure whether your roof needs to be replaced feel free to call our Monmouth County roofing company today so we can come provide an inspection. Our roofers will be able to determine how much longer the roof will last and if it needs to be replaced before you sell the home. When you hire an appraisal company to come look at the home they will include things such as the roof inside the value of the home. If your roof is very old and needs to be replaced it can hurt the appraisal price while in comparison if the roof is brand new then they will see the home as being more valuable.
Finally if the home you are trying to sell has active leaks in the roof, water damage and obvious signs of rot in the attic your main audience will only be house flipping crews. Like mentioned before, there are many insurance companies who will not insure a new home until an agent has gone out to the property to inspect the roof and make sure it is leak free. Generally speaking if your roof is made of asphalt shingles it will last between 15-25 years at most which should give you a rough idea on the condition of your roof. If you install a new roof on the home before you sell it you can also include phrases such as “brand new roof” which will be a highlight of the property and make it seem more appealing to the buyer. This will help the home sell faster rather than trying to sell it with an old roof. This is why we usually recommend replacing the roof before you sell the home. For any other questions you have regarding roofing be sure to call our residential roofers near Monmouth County today!