According to the National Association of Realtors (NAR) and the National Association of the Remodeling Industry (NARI), more than 30% of realtors credit replacing the roof with helping them close the deal. 

A roof is a delicate part of the core infrastructure in a house, and any complications in it can result in severe damages. Thus, homebuyers are extra keen on the roof’s condition when evaluating a purchase. 

So, what reasons might compel you to invest in roof replacement, and how do you tell which approach to take in getting a new roof? Keep reading to find out. 

1. If You Have a Lower Than Anticipated Asking Price

As you think about putting your home on the market, several factors play into the asking price you come up with. How much work and money you’ve put into the house is definitely a factor. What you think the home is worth to you will also influence the selling price you settle one. 

But what do you do when the price the market wants the house for is lower than what you wanted? 

Making valuable repairs and renovations is one way to add to the price. New residential roofing will add value to your home to the tune of between 67% to 68% of the investment. 

However, that doesn’t come without a few caveats. You need to remember that anyone buying a house expects it to have a roof. Roofing isn’t an add on but a base element of the house. 

With that in mind, you’ll be able to look at recouping on a new roof without matching it dollar-for-dollar. That is, you can’t raise the price of the house to match the exact amount you invested in the new roof. 

Still, adding a new roof is a compelling attraction for potential buyers who see that sale sign. Any roof that’s ten years old or more won’t attract top dollar as a new roof because the buyer knows they can rest easy after buying a house with a new roof for several years. 

2. When You Need to Speed up the Sale Process

A buyer’s mental positioning when looking to buy a house is that they want something that lasts. Putting down a ton of money for a home only to do the same for a bad roof is a significant turn-off. 

The moment you have an interested buyer, the roof will be one of their biggest concerns. Any existing problems will only serve to slow down closing on the sale. 

Having a new roof piques the attention of potential homeowners. When you snag a serious and willing buyer, the transaction will move ahead faster since a new roof delivers a valuable proposition. 

3. If You Don’t Have a Lot of Time to Spare

Unless you’re selling a house as-is, you’ll quickly learn that buyers will negotiate no matter how sweet the deal is. Even in as-is sales, negotiations aren’t absent. If you are trying to sell a house but don’t have a lot of time to dedicate to the process, the back and forth can become a drag.

Replacing your roof is one way to eliminate some of the cumbersome negotiations and take significantly less time to get to closing. Potential buyers won’t have room to use your roof as one more bargaining point to wear you down and get cheaper pricing, especially if it’s ten years or older. 

4. If a Lender Thinks Your Home Will Be a Difficult Sell

The age of your roof may not be as deep of a concern for you when it’s time to sell your house. At times, you may even line up a buyer who’s enthusiastic about a fixer-upper and doesn’t see the aged roof as a barrier to closing the deal.

But things get more complicated when it’s time for the lender to carry out their inspection on your house. 

To the lender, the liability lies with them until you clear the last dollar. As such, if they see a roof that’s aged and needs replacing, they can get cagey. If a buyer changes their mind about the roof and doesn’t buy the house, the lender could be left holding the bag. 

A lender will likely require a new roof before approving the loan, even if the buyer at that time assures them it’s not a barrier to the sale. An aged or caving roof will remain a liability, and that’s a complication a lender sees as avoidable. 

In such scenarios, investing in a new roof instills more confidence for the lender to facilitate the sale. 

Roof Replacement Options

There are two approaches you’ll have to weigh when getting a new roof becomes imminent. These are a tear-off and a roof over. 

With a roof over, you install a new roof over the aged one. Aesthetic-wise, the house will have a new roof. However, you won’t have removed the underlying roof, which saves you significant costs. 

On the flip side, a tear-off is where you remove the old roof before installing a new one. A tear-off gives you ample room to carry out an extensive inspection for other damage you didn’t notice. While a tear-off will run your bill up quite a bit, it also gives you bargaining power. You can even add it to your listing’s description. 

Don’t Let Your Roof Let You Down

The condition of a roof is a critical subject for homebuyers. Many potential buyers want to move in and unpack without immediately digging in for an elaborate project, such as a roof replacement. Do your homework to ensure that your investment in a new roof will add material impact to your sale. 

Are you looking to buy a new house? The roof’s condition is one of many things you’ll need to monitor once you close the deal.

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