Quote:
Originally Posted by Inspector Mark
I have been a home inspector for 27 years. This question comes up almost daily. There is nothing wrong with buying a house that will soon need a new roof but your offer should reflect that.
I always explain to people the the cost of the house is not the price you are paying. The true cost is the total of the offer price, cost of needed improvements (roof, AC, Furnace, etc), and the cost of desired improvements (paint, carpet, new kitchen, etc).
If you add all of that up and you feel like you got a fair deal, then you found the right house. If you add them up and find you could not resell the house for that price, then start negotiating the sales price down or keep looking.
I know the housing prices are through the roof right now but that does not mean you should take a bath. Rent for a year and you will look like a genius!
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It's not the worry of will your house pass inspection in regards to the roof. I have a roof that is absolutely fine it is 16 years old. Our insurance co and others are arbitrarily cancelling policy when a roof exceeds there limit. Now it's 10 years . That is ridiculous. Also there are companies that will ins. But at twice the price it's a mess .people are getting contractors to say they need a new roof. When they don't. Really need to. The ind co. Denies and home owner sues. Add 10k to cost for attorneys and now ins cost is 33% more than it should. Those homeowners smile because they took it to the ins. Co and the rest of us pay high rates because of there deceptive actions