[kamal]

Originally Posted by Papa_lecki

Did your realtor put in the description on realtor.com “new roof”?

You can search it - you’ll get something back, according to here, it’s about 56%. I would guess 40 to 50% of the value will be returned.
Access Denied

#10 Roofing Replacement (Asphalt Shingles)
Average return at resale: 56.9%

Roof replacement is an inevitable long-term cost of homeownership, particularly if you own an older home with a neglected roof. Replacing a roof with 30 squares of fiberglass asphalt tiles costs an average of $30,680, and you can make an average of $17,461 back at resale.

Fiberglass asphalt shingles are usually less durable than materials like slate or metal, but they are more affordable and one of the most popular types of roofing material you’ll find on homes. The shingles come in a variety of colors, allowing you to pick a tone that boosts curb appeal and best matches your home’s exterior. Other considerations are the wind rating and impact resistance of the shingles, especially if you live in an area that often sees high winds and hail.

I just signed a contract to get my roof replaced for $9K which is around 23 squares. Owens Corning or Certain teed architectural asphalt designer shingles of my choice. The roofer has 5 star reviews and well established in the area. Not sure where you are getting an average of $30K for 30 squares for ashpalt shingles figures from.

[BlueStarAirlines]

Originally Posted by Snakster66

Not sure who you are talking to, but I just bought in the last month. I was deep in the market for 6 months. Age of roof was one of the first considerations in EVERY house I looked at. A new(er) roof was a huge advantage in my (a buyer) eyes.

To the OP. As a buyer I didn't look at a new roof as something that increased the value of a house. I looked at an old roof as something that decreased the value of a house, I factored in a roof replacement cost in MY valuation of a potential purchase and adjusted target price accordingly. When I shopped for insurance on the house I bought, THEY were certainly interested in the age of the roof.

Absolutely! Buying a house with a roof more than 8 years old is just buying someone else's trouble. There are enough homes on the market where you can exclude those and not have to worry about replacing or having insurance issues.

[ithos]

Originally Posted by retiredguy123

I agree. Replacing your roof is the most expensive maintenance/upgrade you can make. Doing this just to sell a house is a financial mistake. For the same amount of money, you could replace the HVAC system, water heater, washer and dryer, and every appliance in your kitchen. Or, you could do a complete kitchen renovation. Or, you could replace all the flooring. Any of these things would make it easier to sell your house because that is what most buyers look at.

I don't think older appliances are going to prevent someone from obtaining home insurance. A roof near EOL definitely will make it much more difficult. Unless you find buyers who are woefully uninformed about the new policies, it will be a big factor.

Why would anyone buy a house where there is a concern about obtaining insurance? Only if you gave them an incredible deal.

The AC is a good point. If you replace it with a 410A condenser, then you will have at least 15 years before they have to worry about a new one. There are already approved alternatives for 410A refrigerant which is being phased out. After 2025 it will be much more difficult to find 410A condensers which means you may have to replace the inside unit too. That costs almost as much as a roof.

[retiredguy123]

Originally Posted by ithos

I don't think older appliances are going to prevent someone from obtaining home insurance. A roof near EOL definitely will make it much more difficult. Unless you find buyers who are woefully uninformed about the new policies, it will be a big factor.

Why would anyone buy a house where there is a concern about obtaining insurance? Only if you gave them an incredible deal.

The AC is a good point. If you replace it with a 410A condenser, then you will have at least 15 years before they have to worry about a new one. There are already approved alternatives for 410A refrigerant which is being phased out. After 2025 it will be much more difficult to find 410A condensers which means you may have to replace the inside unit too. That costs almost as much as a roof.

I agree that an uninsurable house would be a problem. But, I think a house with a 15 year old roof is insurable. You may need to get a roof inspection. I haven't kept up on the Florida law, but I believe that there are new rules about what insurance companies can and cannot do with respect to older roofs. It may be worth the time to call a few insurance companies and possibly get your roof inspected.

[CFrance]

Originally Posted by EatthMama

You will have a tough time selling a house with a 15yr old roof. What I have done with clients in the past is state in thr MLS listing that the roof will be replaced with a signed contract. Then I have the roofer agree to replace the roof and get paid net 30 so it comes out at closing. This way nothing comes out of your pocket and the new owners are thrilled with an insurable roof.
Since most people make a nice profit off their homes in TV, the extra for the roof seems nominal.
Happy to help you if you aren’t already working with an agent and your house is south of 466.

What does "net 30" mean?

[Two Bills]

Originally Posted by CFrance

What does "net 30" mean?

I would hazard, that seller has $30k deducted from after sale figure, to renew the roof.
Sounds like the agent has a pet roofer on the books, putting a little more icing on her already costly cake.
Sure as heck, in a position where a new roof was last resort, and imperative for a sale, I would find my own cheapest roofer.

[retiredguy123]

Originally Posted by CFrance

What does "net 30" mean?

It is 30 day loan that the roofer is providing that, hopefully, will be paid by the seller from the closing proceeds. Obviously, if the closing falls through, the seller will need to pay the roofer out-of-pocket.

[retiredguy123]

Originally Posted by Two Bills

I would hazard, that seller has $30k deducted from after sale figure, to renew the roof.
Sounds like the agent has a pet roofer on the books, putting a little more icing on her already costly cake.
Sure as heck, in a position where a new roof was last resort, and imperative for a sale, I would find my own cheapest roofer.

I agree with everything, except the "30" refers to days, not dollars.

[Two Bills]

Originally Posted by retiredguy123

I agree with everything, except the "30" refers to days, not dollars.

Thanks for correction.

[melpetezrinski]

Originally Posted by CFrance

What does "net 30" mean?

Net 30 is a payment term. You see this very often in corporate business. In this case, the purchaser has 30 days to make payment of net amount (full payment). There are several payment terms that offer discounts if paid earlier. 5/10 n30 is a 5% discount if paid within 10 days of service provided or product delivered and then net amount due after 30 days.

[Velvet]

Originally Posted by EatthMama

You will have a tough time selling a house with a 15yr old roof. What I have done with clients in the past is state in thr MLS listing that the roof will be replaced with a signed contract. Then I have the roofer agree to replace the roof and get paid net 30 so it comes out at closing. This way nothing comes out of your pocket and the new owners are thrilled with an insurable roof.
Since most people make a nice profit off their homes in TV, the extra for the roof seems nominal.
Happy to help you if you aren’t already working with an agent and your house is south of 466.

Just increase the asking price and include the credit for a roof. Location is far more important. If one plans to live in that house and not use it as a rental then they buy the house they love. Not the one with a new roof.

If the seller does all sorts of renovations to “increase the value of the home” which the buyer likely will change anyway, since almost no renovation costs are recouped 100% the person who benefits from the changes is the real estate agent by making a larger commission.

[LianneMigiano]

People mistakenly believe replacing something essential like the roof adds resale value. It might help the home sell faster than other homes that have 15 year-old roofs - but a home must have a roof. Replacing it does not add value.

[CarlR33]

Originally Posted by Two Bills

If I were a prospective buyer, and looked at, or was considering a property with a 15yo. roof in TV, I would definitely make any offer reflect replacement cost, whatever the asking price was.
Take it, or leave it.
Not in same category as some snagging or cosmetic upgrades regarding property condition.
JMTC.

I would bet it would not be on most buyers radar that are from outside FL.

[Snakster66]

Originally Posted by Velvet

Wow! You and I really differ. My first consideration when buying a house, was the location of the home, near to what, and it’s elevation. Those things I cannot change. Roof is easy to change.

I wouldn’t have been looking at it if it didn’t have a desirable location to us.

[jrref]

Originally Posted by Snakster66

Not sure who you are talking to, but I just bought in the last month. I was deep in the market for 6 months. Age of roof was one of the first considerations in EVERY house I looked at. A new(er) roof was a huge advantage in my (a buyer) eyes.

To the OP. As a buyer I didn't look at a new roof as something that increased the value of a house. I looked at an old roof as something that decreased the value of a house, I factored in a roof replacement cost in MY valuation of a potential purchase and adjusted target price accordingly. When I shopped for insurance on the house I bought, THEY were certainly interested in the age of the roof.

This is a great response. Although you may not recoup the entire cost of the roof, most potential buyers will deduct the cost of the roof when making a bid. If the roof is really old, it will come up in the inspection. You may get lucky and find someone with deep pockets who won't care but at the end of the day expect your home to be on the market a very long time.

As far as the bond is concerned. Agreed, most say it doesn't make a difference but then why on homes with the bond paid off does the listing say in very big letters "BOND PAID"? The truth is, if your bond is paid off, its just another selling point for your home like a new roof, new appliances, etc..