3in9th Posted February 9, 2015 Share Posted February 9, 2015 I like my house...right now, but eventually we plan to build. Some issues- the house will need a new roof soon at some point in the next few years (was last roofed in 1993.) We don't have money for a new roof. Do we take out a loan to pay for the new roof in hopes that it will increase the future sales price? Or do we cut and run before the thing starts leaking? :ohmy: Quote Link to comment Share on other sites More sharing options...
nevergiveup Posted February 9, 2015 Share Posted February 9, 2015 The age of the roof always seems to get mentioned in houses that we have looked at. I guess if you were to try to sell soonish, you could just factor a new roof into the selling price and ask for that much less. If the roof and shingles are sound that will buy you some time. Building is expensive--it always seems to go over budget. None of my business, but it doesn't sound like you have much of a cushion now........ Quote Link to comment Share on other sites More sharing options...
Spryte Posted February 9, 2015 Share Posted February 9, 2015 I'm not an expert, but my thought is to maintain the home you are in. Both for yourself, and because it will make it easier to sell when you do. If the house needs a new roof, you'll be taking care of it eventually, either way - through knocking it off the price or doing it before selling. But if you do it now, then the house retains the appearance that you've maintained it well, which is a bonus to buyers, right? We, too, don't live in our forever home. We're not in a rush to move, though. So we just keep doing the things that need to be done - new roof was last year. :) Quote Link to comment Share on other sites More sharing options...
Ottakee Posted February 9, 2015 Share Posted February 9, 2015 We bought out house knowing it would need a new roof-------which we did before we even moved in. The house though was priced to sell with that in mind. Quote Link to comment Share on other sites More sharing options...
Happy Posted February 9, 2015 Share Posted February 9, 2015 I'm not an expert, but my thought is to maintain the home you are in. Both for yourself, and because it will make it easier to sell when you do. If the house needs a new roof, you'll be taking care of it eventually, either way - through knocking it off the price or doing it before selling. But if you do it now, then the house retains the appearance that you've maintained it well, which is a bonus to buyers, right? We, too, don't live in our forever home. We're not in a rush to move, though. So we just keep doing the things that need to be done - new roof was last year. :) This is excellent advice. Maintain the house where you live. It's a good investment. A roof often 'looks' okay, especially from the ground, but it already starting to leak in a dozen small places. I wouldn't take a loan out, but I might find a part time job or save like a crazy person to gather up some dollars to put toward a new roof. What you need is a good insurance and a hail storm. Quote Link to comment Share on other sites More sharing options...
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