Does it make financial sense to get a roofing replacement before selling your home? In most cases, the answer is no. That’s because there’s no guarantee you’ll be able to immediately recoup your investment.
However, this doesn’t mean you should sell home as is. After all, a damaged roof can be used as a negotiating point for a lower sale price.
Before putting your home on the market, it’s highly recommended that you schedule a roof inspection, which will determine if there are any underlying roofing issues that may need to be fixed. In this case, the goal is to ensure there are no roof leaks, missing shingles or other visible signs of damage.
What If There Are Major Roofing Issues?
Minor roofing issues shouldn’t be a problem, but what about major roofing damage? A damaged roof will inevitably lower the final sale price. However, before you make a decision about roof repairs, you should calculate if roof repair or replacement costs outweigh the profit you make from a sale. After the roofing contractor is finished with the inspection, ask for an estimate and compare the costs with your home’s estimated value.
What If You Sell a Home with a Damaged Roof As Is?
In a competitive property market, prospective home buyers may be willing to overlook certain minor roofing issues. However, you may need to be more flexible with the final sale price. Not to mention in less competitive property markets, it may take a while to find prospective buyers.
When Does It Make Financial Sense to Get a Roof Replacement?
If the property value of your home far outweighs the cost of a new roof, a roofing replacement can help your real estate agent sell your home quicker. After all, it’s easier to find prospective home buyers when your home has an attractive feature like a brand new roof.
Preparing Your Roof Replacement Budget
If you’re planning to replace your roof, make sure to do your research and ask for an estimate before starting the project. Remember: early planning and meticulous budgeting are vital to keeping your project on track and within budget.
Important note: keep in mind that an estimate is different from a quote even though the two are sometimes used interchangeably by homeowners. The main difference between the two is that the former is less detailed than the latter. (On average, the actual project costs are 10 to 15 percent higher or lower than the estimate, which is essentially an educated guess on the total costs).
What to Look for in a Roofing Quote
Quotes are more detailed than estimates and can help you plan a more meticulous budget for your roofing replacement. Here are the details you should look for in a quote:
A detailed breakdown of material and labor costs – Lump sums aren’t good enough—there should be a detailed breakdown of the material and labor costs in a quote. When comparing quotes, keep in mind that it’s not uncommon to see differences in the material costs. After all, the prices of roofing materials may vary depending on your area.
Scope of work – The full scope of your roofer’s responsibilities should be outlined in the quote.
Project timeline – The contractor should include a timeline for your roof replacement. Keep in mind that, at this stage, it’s just a projected timeline, so the dates may still change.
Payment information – The due dates for payments as well as the payment methods accepted by your roofer should be included in the quote.
Contact info – The contractor’s address, phone number and email address should be included in the quote.
Insurance info – It’s important to hire a licensed contractor with general liability and worker’s insurance. Otherwise, you might be held liable for workplace injuries that happen on your property.
Why You Should Be Suspicious of Exceedingly Low Roofing Bids
While comparing quotes, it may be tempting to hire the roofer with the lowest roofing bid. However, if the quote is too good to be true, then it probably is. Offering an exceedingly low bid is a common sales tactic used by less experienced contractors. The problem with hiring a less experienced roofer is that they’re more prone to making installation errors, which can lower your returns on investment.
Aside from the lack of professional experience, what are the other possible reasons why a roofer was able to lower an exceedingly low roofing bid?
Here’s an overview:
Lack of workers’ insurance – Since a contractor doesn’t have to pay any insurance premiums, they can offer lower roofing bids than contractors with insurance.
Low-quality roofing materials – While examining the breakdown of costs on an exceedingly low bid, make sure to check the estimated material costs. To cut costs, some contractors may use off-brand materials that won’t last long. If you notice the material costs on the quote are too low or high, don’t hesitate to ask the contractor about the brands they use. Do they use materials from trusted brands such as GAF® in their projects? Or do they use lesser-known brands?
Deliberate underbidding – It’s possible that the contractor may have deliberately underestimated the number of hours needed to install your new roof. However, this practice gives you an unrealistic roofing estimate, which may in turn blow your budget and ruin the timeline. Deliberate underbidding is a red flag in itself (this alone gives you an idea of the kind of service you can expect from a contractor). That’s why you need to scrutinize the breakdown of the costs in the quote. If you notice any discrepancies in the quote, don’t hesitate to inform your roof replacement and roof repair services contractor.
To protect the ROIs on your roof replacement, you need to make sure the roofing contractor you hired is qualified for the job. Aside from a license and workers’ insurance, what are the things you need to look for in a contractor?
Local office – Aside from quicker response times (contractors with an office near your home can arrive onsite faster), hiring local contractors has several advantages. For starters, since contractors are more familiar with the local climate and building codes, they can make better recommendations. Not to mention you’ll be able to narrow down your options faster by focusing your search on contractors near you.
Experience – The number of years a contractor has been working in the industry should give you a good idea of their level of expertise.
Certifications – Certifications are proof a contractor underwent additional training and stringent vetting.
Why Hire a GAF Master Elite® Contractor?
GAF, one of the most trusted names in the roofing industry, offers the Master Elite certification to contractors who have met its stringent requirements. To be certified, a contractor should be properly licensed, have adequate insurance coverage and proven reputation among their previous customers, and committed to undergo continuing professional training. As such, you can rest easy knowing that Master Elite contractors will install your new roof properly.
What are the other advantages of hiring a Master Elite roofer? Roofing systems installed by Master Elite contractors are eligible for exclusive transferable warranties (which can be an attractive selling point). This includes the Golden Pledge® Warranty—one of GAF’s strongest warranties—which offers a 50-year coverage on materials and 20-year coverage on workmanship. To learn more about GAF’s exclusive warranties,
Kingdom Roofing, a GAF Master Elite contractor, offers a wide range of professional roof replacement and roof repair services. To get a free inspection and estimate, call us at (941) 217-2411 or fill out this form.