So you have found the perfect house. It meets all your families needs and checks off the long list of must-haves and even wants. It has been a long process and hasn’t been easy. There is just one problem. It is evident that the roof must be redone. You don’t want to give up what you have found here but know a good roof is integral to the home. Should you buy a house that needs a new roof?
The answer is that your dream home needing a new roof may actually work out in your favour. It gives you serious leverage in your negotiating power. But before you decide to negotiate know the value of the damage. Go beyond a home inspection. While a home inspector may be able to identify that the roof is in need of repair only a qualified roofing company like RJEneration Roofing can properly asses the full cost of the damage. A roofing contractor is needed to find broken seals, cracked shingles, spot leaks and many other deficiencies home inspectors are not thourally searching for.
Know your options
Once you know the true value of the roof repairs required consider it in the price you are willing to pay for your home. Basically, you have four options: 1) Get the seller to pay for a new roof before as a condition of the sale, 2) Split the cost of the new roof or repairs, 3) Pay for a new roof yourself, or 4) roll the price of the roof into your home loan.
Before making a decision remember that the power is in your hands. Most insurance companies will not issue a policy on a home with an older roof that is at the end of its lifespan. Also, mortgage lenders require buyers to get homeowner’s insurance as a prerequisite for closing on the loan. This puts the seller in a difficult position. They know the roof will make the sale difficult and that if the issue is not addressed in a sale with you that it will come up in a sale with someone else. It is a perfect leveraging opportunity. You can factor not only the cost of the repair of the roof into the house price but also the cost of the risk of the potential damage that may have or could occur from the roof not being at its best.
Know when to walk away
Rely on your roof contractors inspection. If they find leaks into the house the sale should be a no go. Leaks mean the entirety of the house was exposed to the elements. There is no telling how deeply the whole house may be in decay. Water does not take long to do devistation. If there is internal leaking it is likely best to pass on the deal.
Also, if the home owner is in denial of the roofs condition and unwilling to compesate you for the cost of its repairs in anyway then you might want to reconsider. In fairness the sale price should reflect the cost of a new roof or its alterations.
Outside these two conditions a roof should not be what stops you from getting your dream home. A house that needs a new roof can get you both a better price on your home and get you a brand new roof guaranteed to last for years in the process.