Buying A Home? Look at the Roof
June 17, 2024
First-time homebuyers may feel they are disadvantaged when shopping for that first home. How do you know that the house isn’t full of problems?
Typically, when a borrower finds a specific property to commit to and is ready to make an offer, there’s the option to include making the sale of the home contingent on the results of the home inspection. But that’s for the house you want to make an offer on.
Inspecting the Property Carefully
How do you rule out homes that have issues? Some borrowers learn by looking. The basement with cracked walls, for example, may be a symptom of a foundation problem, which is something borrowers may learn along the way.
However, cracks, excessive moisture in the crawl space, and pooling water in the basement are easy to spot.
What else should a new borrower look for when shopping for a home? The roof is one of the biggest (literally) areas to pay attention to. What should you be looking for when examining the roof?
Don’t expect to be allowed to climb on it to get a closer look, but typically, you might not need to if certain issues are present. Do you see missing shingles on the roof? Are there worn or damaged areas visible to you even from the sidewalk?
Do you notice roof tiles that are curling or pools of standing water? All these may indicate there are larger issues you don’t want to contend with unless you plan on buying a fixer-upper with an FHA 203(k) rehab loan.
Different Types of Roofs
Some borrowers see damage on the roof and shrug, thinking they will simply have it repaired before they move in. But roof repair is more complicated than you might expect. Did you know roof work can cost more depending on the incline of the roof? A steeper roof is more expensive to repair than a flatter one.
That’s an issue most won’t even consider unless they’ve done the research on roof maintenance before.
Ask the Owner
Some house hunters like to inspect the property before asking questions of the owner. When you ask the owner how old the roof is, do they give you a straight answer or do they hedge?
In some cases, how a seller answers your questions is just as important as what they tell you. For example, what does the seller say when you ask if the roof has ever been damaged by a storm or lightning or if it’s been repaired due to age?
The typical lifespan of a roof may be between 20 and 30 years depending on the construction and materials used. If you can’t get a straight answer about the roof, it may be wise to move on, but you can always ask the seller how old the house is and assume the roof is at least that old.
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Typically, when a borrower finds a specific property to commit to and is ready to make an offer, there’s the option to include making the sale of the home contingent on the results of the home inspection. But that’s for the house you want to make an offer on.
Inspecting the Property Carefully
How do you rule out homes that have issues? Some borrowers learn by looking. The basement with cracked walls, for example, may be a symptom of a foundation problem, which is something borrowers may learn along the way.
However, cracks, excessive moisture in the crawl space, and pooling water in the basement are easy to spot.
What else should a new borrower look for when shopping for a home? The roof is one of the biggest (literally) areas to pay attention to. What should you be looking for when examining the roof?
Don’t expect to be allowed to climb on it to get a closer look, but typically, you might not need to if certain issues are present. Do you see missing shingles on the roof? Are there worn or damaged areas visible to you even from the sidewalk?
Do you notice roof tiles that are curling or pools of standing water? All these may indicate there are larger issues you don’t want to contend with unless you plan on buying a fixer-upper with an FHA 203(k) rehab loan.
Different Types of Roofs
Some borrowers see damage on the roof and shrug, thinking they will simply have it repaired before they move in. But roof repair is more complicated than you might expect. Did you know roof work can cost more depending on the incline of the roof? A steeper roof is more expensive to repair than a flatter one.
That’s an issue most won’t even consider unless they’ve done the research on roof maintenance before.
Ask the Owner
Some house hunters like to inspect the property before asking questions of the owner. When you ask the owner how old the roof is, do they give you a straight answer or do they hedge?
In some cases, how a seller answers your questions is just as important as what they tell you. For example, what does the seller say when you ask if the roof has ever been damaged by a storm or lightning or if it’s been repaired due to age?
The typical lifespan of a roof may be between 20 and 30 years depending on the construction and materials used. If you can’t get a straight answer about the roof, it may be wise to move on, but you can always ask the seller how old the house is and assume the roof is at least that old.
------------------------------
RELATED VIDEOS:
There's a Difference Between APR and Interest Rates
Choose Your Mortgage Lender Carefully
Getting Started With Your FHA Loan Application
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