Updated: Jan 19
Selling a home with a bad, leaking roof can be a challenge, as it can significantly decrease the sale price of the home and make the house sit on the housing market for longer. A study by HomeAdvisor estimated that the average cost to repair a roof ranges between $751 and $4,216, with the national average being $2,169. Depending on the cost of the repair and the value of the home, a bad roof can decrease the sale price by thousands of dollars. Since the average home price in Washington state is $560,000 according to the office of financial management, meaning that even a 1 percent decrease in value could be a loss of $56,000!! Do you really want to chance that type of decrease in value?
A bad roof can also be a major deterrent for potential buyers. Many buyers are looking for a move-in ready home and a bad roof can be seen as a major repair that they will have to undertake. This can make them less likely to make an offer or can result in a lower offer. Additionally, a bad roof can also make it difficult for a home inspector to give a positive report on the house, which can further discourage buyers. This can cause delays or even prevent the sale from going through.
However, there are ways to mitigate the negative impact of a bad roof on the sale of your home. Improving your home's roof can help to improve the value of your home over time and avoid costly repairs. Getting a professional to repair or replace the roof before listing the house for sale can increase the value of the home and make it more appealing to potential buyers. It is also important to disclose any known defects to potential buyers so that they can make an informed decision.
In conclusion, selling a home with a bad leaking roof can be a challenge but by taking the necessary steps to improve the condition of the roof, the sale price and the chances of selling the home can be greatly improved. Remember to disclose any known defects and hire a professional to repair or replace the roof before listing the house for sale.
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