San Francisco Roofing Company Offers Some Advice
One of the biggest decisions before selling a home is whether to replace or fix the roof. A new roof is a hefty investment, and for that very reason it is an attractive feature for the potential buyer—but when are you better off leaving the roof as is, and when is it to your advantage to get that roofing repair taken care of before selling?
If the roof was replaced last year, you aren’t asking yourself this question. At the other extreme, an old, unsightly, leaking roof screams “expect a bargain on this house!” In some cases, greatly reduced sale value is acceptable in exchange for passing the work and expense on to the buyer; but even then, the bank may decide the matter by refusing to issue a loan until the re-roofing has been done.
Most often, though, the roof is in the grey zone between these extremes. A house inspector’s assessment will provide valuable information on the actual condition of the roof. If the roof is in decent shape, you might want a way to prove it; a roofing contractor hired to do routine maintenance will certify the roof for several years (ask how many) from the date of the work, and certification will go a long way to reassuring the buyer.
If, on the other hand, the house inspector finds that the roof needs work, getting several roofers to provide quotes on the job will give you an idea of what you’ll need to shell out or how much to discount your sale price. Once you have this information, you enter the strange world of anticipating what will help your house sell more quickly: a lower sale price or a turnkey presentation. On the one hand, a low price may bring on a bidding war among buyers with less money and more willingness to do some work on the house; on the other, high-income buyers with little time or interest for home repairs will be looking for a place they can move right into. For this reason, local economy and demographics have a lot to do with the return on investment you can expect from roof repair.
Fortunately, the numbers have already been crunched. The resale value of home improvements, region by region, is the focus of an annual report published by Hanley Wood, the research and media company for the construction industry. Residential roofing is one of the 36 projects covered in the report, and it’s startling how much better the return on investment is here in the Bay Area than elsewhere. According to the Remodeling 2014 Cost vs. Value Report (www.costvsvalue.com), nationally a new roof recoups only 64 percent of its cost in added resale value. But in the San Francisco Bay Area, the resale value of a roof replacement is just over 100 percent.* This may make a serious difference in the decision whether to take on the repair or replacement of that old roof before you sell.
East Bay Emergency Roof Repair Is Our Specialty
Do you have questions or need assistance with your roof? Contact the team at Ben’s Roofing today at (510) 690-8570 for your residential or commercial roofing needs.
*© 2014 Hanley Wood, LLC. Complete data from the Remodeling 2014 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.