Home Selling in Hudson>Question Details

Kendra, Home Owner in Hudson, NY

I bought a house in October and do not like it so I am putting it up for sale. A new roof increases the asking price right?

Asked by Kendra, Hudson, NY Tue Apr 3, 2012

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7
Anna Brocco’s answer
Is the roof in really poor conditon, any leaks, was it professionally inspected, etc. If you absolutely don't like the house and are set on moving/selling, consider inviting a few local agents from different realty companies and ask for a cma, comparative market analysis; review the data, ask opinions and determine worth--thereafter make a decision regarding the roof to replace, or not...
1 vote Thank Flag Link Tue Apr 3, 2012
A new roof is too subtle to be worth much to a buyer in dollars and cents, but the buyers may consider your home a better value for the same price. A house needs a roof. A new roof may swing a buyer in your direction if the competing identical home for the same price has an old roof.
1 vote Thank Flag Link Tue Apr 3, 2012
A new roof would most likely bring the price up to or even above other houses that are comparable in your area. If the roof is at its end and needs to be replaced most likely the price would reflect the cost of the new roof that would have to be put on by the potential buyers.
0 votes Thank Flag Link Wed Aug 1, 2012
A new roof does not increase the asking price. A good roof is expected by a buyer. Its one less thing a buyer will worry about when they purchase the house , but an appraiser will not give added value to this property because of it.
0 votes Thank Flag Link Thu Jul 26, 2012
Hi Kendra:

I'm looking for a home in your area and I can tell you that as a buyer, I expect to have a roof that does not need to be replaced. If my contractor tells me it needs to be replaced, then I will make a lower offer based on 1) Replacing the roof and giving myself a margin of error, in case even more expensive and extensive problems are discovered once the old roof has been removed; 2) Other unknowns; i.e., a roof that needs to be replaced is a red flag that the house may have other problems that even an experienced contractor will not be able to detect.

good luck!
0 votes Thank Flag Link Thu Apr 19, 2012
Kendra,

Buyers will often ask: "How old is the roof?" Replacing the roof depends on many variables... including how soon does it need replacement? How desirable is the property overall? Do you have the funds to replace the roof? The market in Hudson is quite active, and now is a very good time to list. I would suggest interviewing several realtors, and asking their opinion.

Good luck!

Tom Lynch
Associate Broker, Berkshire Property Agents
0 votes Thank Flag Link Wed Apr 11, 2012
Not necessarily. The house already has a roof and a roof is a home feature that most Buyers expect. (kinda like tires on a car). If the roof NEEDS replacing because its worn out, it WILL pay to replace it now, before listing. I tell Sellers "it may cost $5-10K to replace your roof, but it will cost $10-20K NOT to replace it". Why, you ask? The Buyer will look and say to themselves "well, I know I'll have to replace the roof soon and I DON'T know what I'll find when I tear off the old roof so I'd better make an offer that allows a margin for the unknown" thus... a lower offer. So the answer to your question is NO, replacing a worn out roof with a new roof of the same type will not increase the asking price. HOWEVER, if you upgrade say, from a 3 tab shingle roof to a metal roof, then YES, you will be able to increase the asking price, but NOT dollar for dollar what you have invested in the upgrade, maybe 25-50% of the cost difference depending on your market. Hope this helps.
0 votes Thank Flag Link Tue Apr 3, 2012
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