People all throughout Central Florida are looking with interest at today’s housing market.
A historic confluence of factors has buyers and sellers alike jumping to take action. Buyers love the low-interest rates, giving them access to credit that might be difficult to come by in other situations. On the other hand, many buyers are attracting multiple qualified bidders for their homes.
A new roof is one of the best investments you can make to improve the value of your home.
Now, we get it – you might actually think the opposite, that a new roof is one of the last things you could ever want to pay for if you want to get your house on the market quickly. After all, the average shingle roof in Central Florida lasts about 20 years. Why not leave it to the next owners to deal with?
That may seem logical at first, but it leaves you in a much weaker position as a seller.
Not only can you make thousands of dollars back on your new roof investment, but you can actually make the entire sales process much easier than it would otherwise be. Nothing else that you can add to your home, no matter how trendy and in demand, has the same power as a new roof.
That is a big claim, but it is backed up by the facts from sellers across the Sunshine State.
As the housing market has accelerated over the last year, Sheegog Contracting has been there to help our friends and neighbors reach their goals one roof repair or roof replacement at a time. While a new roof is the best bet, a more modest roof repair can also help you attract the right buyer.
Let’s take a closer look at exactly why a fresh roof is one of your best tools for selling at top dollar.
1. Buyers Are Paying Big, and They Refuse to Deal With a Roof That’s Ready to Fall
While many roofing manufacturers advertise their roofs lasting for 30 years, that is not usually the case here in Central Florida. The combination of rain, wind, and stifling heat will tend to age roofs before their time. So, buyers have always been more alert to the roof than they are in many other places.
Sellers may seem to be in command of today’s market, but there are still some red lines that informed buyers will not cross. Buying a home that will need a roof replacement within the next three to five years is definitely one of those. Mortgage lenders are also in agreement on this point.
Even buyers who aren’t really planning to stick with the home for the long haul want a good roof.
Those real estate investors – the ones who show up with “cash in hand” and bid high – are looking for homes that have the fundamentals in place already. One of the first things they look at is the roof. The second is usually the foundation, which can tip you off to a prospective buyer’s real focus!
If they see that the roof is not in good condition, they know it will add overhead to their plan. That will come either in the form of expenses to repair the roof or more time spent on the market looking for a buyer who won’t mind the roof’s current condition. All of these drawbacks can cost big money.
When you take care of the roof from the very beginning, you are adding value for everyone. That’s true no matter whether the next resident of the home is a growing family or a house flipper. You benefit the community, and this benefit is reflected in the price you get for the property. It’s that simple.
2. Replacing Your Roof Now Helps You Avoid Any Nasty Surprises in the Future
The worst thing that can happen to a seller is to be on the way to success only to have things come to a full stop somewhere in the middle of the process. Unfortunately, that’s precisely what could happen if you become aware of roof issues and decide to go forward with putting your house on the market.
While there are many buyers out there ready and willing to pay in cash, the majority of buyers are still getting financing from somewhere. They are leaping into the market with both feet because they know they will save tens of thousands of dollars over the lifetime of their loan with low-interest rates.
Inexpensive credit has leveled the playing field in many areas, allowing first-time homebuyers to truly compete with wealthy real estate investors. This effect is very noticeable here in Central Florida, as it is an area where many people have moderate-income and generally try to conserve their wealth.
Now, they have the extra wind in their sails that they need to buy a great house – potentially, yours.
But using the services of a mortgage lender can make things a little bit more complicated for both them and you. Mortgage lenders aren’t worried about an easy selling process – they’re worried about profit. To protect their investment, they require an extra layer of certainty about any property.
This usually means that the buyer will need to pay for a house inspection at their own expense.
A house inspection usually costs around $200 and takes a day or two. There’s no dearth of Central Florida home inspectors willing to do a fast and thorough job. But once they find anything, it usually means you are on the hook for repairs – and can’t go forward until they are made.
The roof is one of the biggest areas of concern. It always gets checked out in detail.
Roofing problems can signal a huge red flag for lenders. They may even pull their money out of the process. That’s because a bad roof can actually imperil the inhabitants of the house. If the buyer is using a government-backed mortgage loan program, these safety standards tend to be even stricter.
In the worst-case scenario, this will leave you starting over from scratch with your home.
Ideally, any Central Florida should be on and off the market in 30 days. In some cases, homeowners have been able to get their properties off the market in as little as a week! But roofing woes can send you all the way back to square one. To avoid losing more money, you might even have to relist.
That can cost you months of effort, whereas replacing your roof can be done in days.
3. A New Roof Means One Less Reason to Try to Sell Your Property “As-Is”
For most buyers, “as-is” isn’t just a red flag – it’s a screaming red siren.
Something is terribly wrong with this property! Danger! Danger!
When people buy a home, they want to know it is move-in ready, not a disaster waiting to happen. And although buyers are constrained by the limited housing stock available, they are still willing to walk away if they need to. They have plenty of credit, and virtual tours mean they can extend their search radius.
Many experts strongly advise against buying any home “as-is.” You can bet that many of the sellers you want to entice into your property have also received the same input. Lenders, real estate agents, and even their friends and family members are out to stop them from making this “mistake.”
Plus, this means you will usually need to lower your asking price. Lowering your price is not necessarily helpful in today’s market. In fact, many sellers are treating the asking price as an initial offer that buyers should try to beat. If you have to lower it, you might be losing much more than the difference.
You’re also losing the 10%, 20%, or more that the most qualified buyers are willing to go over.
Selling “as-is” puts you in a terrible negotiating position, and roof problems are notorious as one of the biggest things sellers are tempted to hide by going this route. It erodes your trust from the very start and makes buyers wonder how hard they need to look to find out about all the things that are wrong.
In addition to the roof, buyers often have concerns about the electrical system and septic system. If you have all three of these working at a high level, you have already addressed the major objections that may arise during the selling process. Now, you simply need to find a buyer who loves the home.
4. A New Roof May Be the Perfect Way to Sweeten the Deal with Additional Long-Term Savings
The most common roof in Central Florida is the shingle roof everyone is familiar with. A shingle roof lasts for a long time and has moderate maintenance needs. It is generally inexpensive to maintain. All you need to do is make sure it is getting a full Central Florida roof inspection once a year.
But there are many other roofing options that can add unique performance qualities to your home.
Some of these are very enticing to savvy buyers, especially those concerned about the environment.
Residential metal roofing is becoming extremely popular throughout Florida and in many other states where the sun shines brightly most of the year. Metal roofing is stylish, secure, and can last 50 years or more with minimal maintenance – in fact, it only needs to be inspected every other year.
But the true power of metal roofing, which makes it so great for selling, is in its reflective qualities.
Most modern roofs are somewhat reflective. In fact, high-quality shingle roofing incorporates reflective granules to bounce back some of the solar radiation that strikes it. But among all the different roofing options available today, residential metal roofing is by far the most reflective of all.
By reflecting up to 50% of solar radiation that strikes it, this type of roof transforms the whole home.
Supporting a more efficient air circulation cycle, it ensures hot air rises and escapes from the home the way it should instead of getting stuck near the attic level. This means the home is cooler in the summer and warmer in the winter, all without running the air conditioning or heater nearly as much.
The knock-on effect is such that you could save hundreds or even thousands of dollars a year.
Not all prospective homebuyers come to the process with an understanding of this. But those who see the potential are often willing to pay more money. Deep, long-lasting savings make for a compelling argument. And the lower emissions produced by less air conditioning use are very attractive, as well.
5. A New Roof Will Align You with Buyer-Focused Trends in Your Neighborhood
When you’re in a house for the long term, it is not unusual to use it as an extension of your own style and make a statement. But as the time rolls around to make your sale, it might be necessary to dial back your style preferences. This helps the buyer’s imagination soar so they can picture living in the home.
Depending on your own tastes, design trends might seem pretty boring to you. No matter the case, you can benefit by looking at what’s selling in your own neighborhood. Your real estate agent will help you get there by finding “comps,” comparable properties that have sold in the area recently.
If you notice that all the comps are shingle roofs of such and such color, then you probably want a roof that meets those specifications. Whatever the case may be, your real estate agent is a great help here. Once you know, you can translate those requirements to Sheegog Contracting and we will do the rest.
All of our different roofing options are available in a wide range of colors. Of course, shingle roofs have the most color options because they are the most common roofing material in Florida. But even types of roofs you might think of as understated, like metal roofing, are delivering more colors every single day.
6. A New Roof Gives You More Control Over that All-Important First Impression
Staging a home is one of the ways to make it sell faster and for a larger quantity of money.
In “staging,” the real estate agent or a dedicated professional takes the lead in making changes that will draw attention to a house’s special qualities. Every room gets some effort. But the exterior of the house is crucial, too. After all, it forms the first impression that any visitor gets.
This usually consists of updating four areas:
- The front lawn
- The front door
- The exterior paint
- And (ideally) the roof!
Think about it. In terms of what you can see as you approach a home, it’s actually the roof – not the door – that presents the biggest surface area. Sure, you won’t be able to see fine details from the ground, but the color combination of the roof, exterior walls, and door is unmistakable.
Staging a home is a lot of small details that add up to a strong impression. But the roof is a real anchor for the whole conversation. You and your real estate agent now have the power to start the discussion based on the superior performance and savings your home offers.
That’s a whole lot more effective than leaving fresh-baked cookies in the kitchen!
Make Your Sale Easier by Hiring Sheegog Contracting to Replace Your Roof in Central Florida
In Winter Park, Eatonville, Maitland, Fern Park, Roseville, Goldenrod, and throughout Central Florida, Sheegog Contracting is there to make your life easier. Our proven five-step process brings your ideas to life – no matter whether you’re selling, passing a home on in the family, or you just moved in.
With years in the industry, odds are good that we’ve already worked with your friends, neighbors, and favorite local businesses. We believe that repairing or replacing your roof should be easy and you should always get all the facts upfront so you can make an informed decision.
Contact us to get started today.