Quote:
Originally Posted by Randall55
You need to speak to an insurance agent not only about the age of the roof but the HVAC, as well. Knowledge is power. If you are paying cash for the home, negogiate a better price due to the age of roof and HVAC. You will then have money in reserve to pay for a new roof and HVAC.
If you are getting a loan, negotiating a better price for the home will not help. You will have lower monthly payments but will have to spend approx $20,000 to replace the roof. Negotiating with the seller to replace the roof and possibly HVAC before you purchase the home is a better option.
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The age of the roof and HVAC system should have already been taken into account when the price was set. The first home I bought in The Villages, in Tierra del Sol, was 22 years old but had a one year old roof and HVAC and the bond was paid. That made me willing to pay more. I was there two years but had a high end hot water heater installed before I left.