Home Seller: “Can I Get More For My House If I Put On a New Roof?”

More than WHAT?

My short answer to the question, “can I get more for my house if I put on a new roof?” is, “yes, you can.”

That is, if by “more,” you mean, “more than what you could have gotten for the home without a new roof — especially if the current one is leaking.”

Unfortunately, what most homeowners (and would-be Sellers) are really asking is, “If I spend $10k (or $15k) on a new roof, can I add at least that much to the selling price?”

My answer to that is an unqualified “no.”

Avoiding Discount ≠ Premium

That’s because home Buyers expect to buy a home with a functioning roof, that has at least some remaining useful life.

If instead the roof is demonstrably failing, Buyers will deduct not just the cost of a new roof, but another 20% to 30% for the related hassle and risk (there’s ALWAYS a surprise or two).

Of course, that’s assuming: 1) prospective Buyers are still interested in the home; and 2) their lender will let them close on a home with a worn-out roof (many won’t, in which case the Seller has no choice but to replace the roof prior to sale).

P.S.: The same analysis applies to any material defect in a “For Sale” home (foundation issue, malfunctioning furnace, etc.).

See also, “When to Spend Money on a New Driveway — & When Not To.”



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