Should You Buy a House That Needs a New Roof? Experts Advise

Buying a house that needs a new roof (or even repairs to an old or damaged roof) isn’t for the casually committed. It’s likely to be a major investment of money and time. But, for the right buyer, it shouldn’t be a non-starter. Here’s what the pros say about falling in love with a home whose roof is ready for retirement. 

Make Money Online Meet the experts

• Ken Sisson, Realtor® with Coldwell Banker Realty in California

• Mike Reedy, owner of Quality Built Exteriors in Virginia

• Paige Schulte, Realtor with Neighborhood Experts Real Estate in Washington

Make Money Online The consensus: Deal with it

“If a home checks all the boxes for you, finding out about a problem with the roof isn’t necessarily a showstopper,” says Sisson—and Reedy agrees. “If you love the home and plan to spend years there enjoying it, replacing the roof adds value and peace of mind, both of which are worth the investment,” he says. 

That said, Schulte warns that while roofing projects can be fairly straightforward, without hidden costs or logistical hiccups, they can end up both costing a lot more and taking much longer than anticipated. If you’re prepared to deal with everything it could entail, she says, your dream house could be the one that needs a new roof, stat. 

Of course, before you sign on the dotted line, you’ll want to do some due diligence. Ahead, a step-by-step guide:

Make Money Online Research local comps and roofing costs. 

The first thing to determine is whether the cost of a new roof has been factored into the listing price. If the problem was disclosed up front, before you made an offer, a new roof is likely to be included in the listing price, according to Sisson. Even so, he says, it’s a good idea to ask your agent to review local comparable sales to determine the value range of the home, without taking the roof into consideration. Finally, Sisson recommends researching the cost of the roofing in your area to see if you need to consider it in the offer you make. 

Make Money Online Get a thorough inspection—and local quotes. 

Whether to get an inspection is a hot topic, especially in a seller’s market. But if you’re concerned about the condition of a home’s roof and don’t want to be stuck footing the bill for a replacement, you’ll want to hire an inspector. And, if your inspection report reveals roof problems, Sisson also recommends asking your inspector to look for other hazardous and potentially costly problems in the home, such as leaks or mold. If there’s a strong possibility of mold, for example, you may want to have environmental testing. 

During your inspection period, Schulte also suggests collecting at least two bids from local contractors to find out how much it’ll really cost to replace the roof. If you’d rather not pay the estimated price for the roof and the seller isn’t budging, you can always terminate the contract. 

Make Money Online Consider the market.

If the house has multiple offers and the condition of the roof is known by all parties, then you should be prepared to cover the cost yourself. If you didn’t learn about the roof problems until the inspection, your real estate agent can help you request a price reduction or buyer credit from the seller. Just keep in mind that in a competitive market, a seller might not respond favorably to your request—and you could lose out on the house altogether.