London, Ontario, is a perfect city to buy a home. If your soon-to-be dream house needs a new roof, the last thing you want to do after working to sell your own house is to embark on another, possibly multi-layered, renovation. What if the home you’re selling or buying in London needs a roof?
The driving factor is the grade of shingle you use.
Do you really need to repair your 17-year-old roof before selling it? Is a buyer deterred from buying a house with a roof that they’ll need to replace?
When selling your house, you will benefit the most by replacing the roof if it looks like there is obvious damage.
- You will get your best Return on your Investment (ROI) by undertaking a high-end roof replacement with high-quality architectural shingles on an equally high-end renovated home.
- Ensure the bill and warranty are displayed for every real estate showing.
- Choose to increase a buyer’s trust by purchasing an extended warranty to benefit a potential buyer. Showing that the focus is on the buyer leaves them with a positive impression of the seller.
- Do not choose a type of roof that could be construed as custom, such as a metal roof. Stick to a generic material but choose the highest quality.
Selling a home is a significant undertaking that can make you a lot of money.
Any buyer will reduce the amount they will pay for a house that requires work, especially for a place that needs work on its bones, the structure that holds it together. They include windows, doors, a roof, and the home’s foundation. The costs of renovations can quickly grow, given the unknowns involved.
According to the Remax blog, “Renovations that save a homeowner money in the long run, will draw a higher Return on Investment (ROI), around 75%, depending on the scale of the renovation”
What should you consider when deciding if you should replace a roof on a house that you’re selling?
Is it incumbent that the seller pays for a new roof?
The seller can pay for the roof replacement and raise the value of the property, or lower the asking price, undertake no work, but lose attracting potential buyers by burdening them with the work. It comes down to whether the seller wants to present the house in a state of negotiation, requiring the real estate agent to sell a failing roof.
What buyer is the house sale attracting?
A buyer who responds to high-end finishes will look at a bargain shingle, knowing it does not fit the look of the rest of the house and will factor in the cost to tear it out and replace it.
It is helpful to be proactive and hire a home inspector or a trusted roofing contractor like Forest City Roofing to know the actual state of the roof before selling the house.
If the seller is unsure how much active life the roof has left, they must find out for sure. The sale of a house requires information to be truthful and on point. Buyers value a seller that knows about the home they are considering buying.
The Real Estate Council of Ontario says, legally, a seller must disclose patent (visible) and latent (not apparent or discoverable by a home inspector) defects of the house.
You do not have to legally replace your home’s old, unsafe, or faulty roofing, but you must disclose its condition. If you choose to replace your roof, please see the roofing portfolio of Forest City Roofing and contact us below.
Since 1993, the people at Forest City Roofing have been providing honest and respectful roofing and siding work for homeowners of London, Ontario and the surrounding area.
Please contact us at (519) 659 6937 or request a roofing quote online.