I had a client talk to me about their roof the other day. They plan to put their home on the market soon and they wanted recommendations as to what they should do - New Roof or not. As a Realtor representing them, my job would be a lot easier selling their home with a new roof. However, what really needs to be asked -- "Is the investment going to turn into top dollar for their home?"
Here are a few things, in my opinion, that should consider:
- It's a Buyer's Market
We have been in a buyer's market for quite some time. Good Realtors will guide their buyers to properties that provide the most home for the money. I always tell my clients the two most important things to look at when considering buying a home is foundation and roof. After all, these can be the most costly if not in the best condition. Third and forth on the list would be plumbing and electrical.
- State of the Roof
The roof sheathing and outer roof over 20+ years of age most likely has experienced deterioration regardless of type of roof (composition, tile, wood shake, even metal). The cost of replacing your roof may provide a worthwhile investment to conscious buyers who are looking to get the most for their money in addition to "peace-of-mind" knowing the cost of replacing the roof will not be out-of-pocket. In my experience that lenders also put more positive weight on a new roofs than ones at the end of their life.
Before any decision is made, have more than one roofing professional out to take a look at your roof and provide a detailed report of the state of your roof and recommendations (have them include photos if possible).
- Competitive Market Analysis
Today, you not only have to convince buyers that the price they are paying for your home is worth it. You also have to convince the Bank! Homes that are priced quite a bit higher than others in the neighborhood, regardless of upgrades and updates, may not be able to capture the value they deserve. Banks are much more conservative than in the past and appraisers have tightened up their practices as well.
There are several situations in my recent past where, when asked, I recommended against a new roof and my clients opted for roof repair. The recommendation I would make is to know the state of the homes that have sold in your neighborhood, have intimate knowledge of the state of your roof (where there are leaks, drainage issues and deterioration) and have your Realtor or trusted Real Estate professional provide their view of value with and without a new roof. An informed seller is always more powerful these days!
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Dave Harbison
Long Beach REALTOR®
Main Street Realtors (562)618-9770
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Long Beach Realtor® / Real Estate Agent
Long Beach Homes for Sale, Condos and Investment Properties
Long Beach Relocation Expert
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Labels: Craftsman, Dave, edison, Future of Real Estate, Home Seller, Long Beach Architecture, Long Beach Bungalow, Long Beach Heritage, Long Beach Seller, Naples, roof, Virginia Country Club
# posted by
Dave Harbison @ 10:24 AM
I always say, a well placed investment of time a money are worth a lot when it comes to selling your home... One of the biggest hurdles to overcome to a successful sale is a old or bad roof. In today's buyer's market, it is even more important than ever to go into into your home sale knowing exactly what you are willing to do about your roof. Here are some tips worth considering:
First, Have all the paperwork available showing when your roof was put on and if the warranty is still in tact.
Second, have up to 2 roofing contractors come over and evaluate your roof -- The condition of your wood shingles, composition, tile, slate or stone. Have them also the flashing to see that they were done correctly and that all the plumbing pipes and vents are sealed with caulk. Again, ask them if it was done correctly and professionally. You'd be surprised how many roofers don't take the time to
do the job right!
Third, have the contractors go into the attic and evaluate the condition of the wood framing, sheathing and drywall for dry rot or termite damage. This will effect the estimate -- especially if there have been slow leaks that have effected the wood.
Forth, have them explain the material they plan on using, the life of the roof, who the manufacturer is and how long the warranty is in effect for materials and labor.
In today's real estate marketplace, it is highly unlikely that buyers will overlook the challenges that are presented for a property with roofing problems. Handle them up front and diffuse any questions they may have with logically, confident answers -- like you are in control. It is ultimately up to the buyer, however, it has been my experience that they will be less inclined to cancel or hardball a seller if they are presented a clear picture of the facts up front.
Labels: Belmont Heights, California, Homes, Houses, Long Beach, Los Angeles, Real Estate, roof
# posted by
Dave Harbison @ 4:32 PM
