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Should I Repair My Roof or Sell My Home As-Is?

There are plenty of things that can impact the value of a home, but perhaps none more so than the roof overhead. For homeowners looking to sell, the condition of their roof can be either a great strength or a massive detriment. Buyers looking at purchasing the home will put a lot of consideration into a roof’s condition, and homeowners know this, which often brings up an important question: if your roof is old and needs work, is it worth it to invest in the repairs or replacements before selling, or should you simply get an estimate and then work the cost into your asking price?

An Extreme Example

First, let’s get the extreme situations out of the way: if you have a massive hole in your roof because of something like a fire or fallen tree, then you’re going to have a really difficult time trying to sell your home at all, no matter how low you put the asking price at. While some buyers may jump at a good deal, knowing that fixing up the issue could lead to gains on their investment quickly, the truth of the matter is many buyers simply won’t want to deal with the hassle, and many will also wonder what other types of damage your home has sustained because of the huge hole in your roof.

So in this case, yes, you absolutely should replace your roof before selling. However, things are rarely this straightforward. What if you have a minor problem, such as a missing tile here and there or a few small leaks simply due to your roof being roughly 20 years old? Then the answer becomes a little cloudier and may depend other factors completely unrelated to your roof.

How to Decide

The bottom line is this: you need to know what’s going on with your home in order to take stock of whether or not paying for the repairs is worth it. Have your roof inspected by a local professional and let them tell you what they find in terms of damage. Odds are if they find anything, the home inspector that any potential buyer hires will also find it and serious issues will likely become a sticking point.

If the inspection turns up any damage, find out how much the repairs will cost, and don’t be afraid to shop around and get a few estimates from different providers: one may cost significantly less than another. This can tell you whether you can afford to get the repairs done yourself or how much you can expect to factor into your final price.

There’s another factor to consider: how quickly do you want to sell your house? The bottom line is simple: homes in good condition show better, garner more interest, and ultimately sell faster. If you’re on a time-crunch, such as have a contingency on selling your home or you’re moving a long distance, then you’ll likely want to complete the sale of your home quickly. At this point, investing in the repairs is more than just an investment in the value of your home, it’s an investment in saving you time.

When to Sell As-Is

There’s one situation where selling as-is will always be the way to go: when you can’t afford to make the repairs yourself. In this situation, you’ll need to be prepared to factor that cost into the final asking price for your home. Don’t go into serious debt in order to finance repairs.

However, selling as-is and pricing your home lower to compensate for it could also spark a lot of interest in your home, particularly in a hot market like here in Valencia. When buyers are abundant, a lower cost is sure to spark interest, and could generate a bidding war between multiple parties, which could drive your price back up again in spite of the fact that the home needs repairs. At this point, you don’t even have to do the negotiating work—the buyers will work it out for themselves and you’ll reap the benefits!

If you need help selling your home, talk to a skilled Valencia realtor by contacting Dippy at (661) 441-3304!