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So we all know that our current housing market is definitely a buyers market. But the big question is: Do buyers want fixer uppers or homes that are move in ready? Local realtors say, the majority want homes that will require light cosmetic repairs. Buyers who gravitate toward fixers are those who either don’t qualify to buy a more expensive home or those who want to make a profit by fixing the home themselves. Most fixer buyers are willing to do simple repairs such as paint the walls, put in new carpeting or replace light fixtures. They typically don’t want to rebuild a foundation or move walls, or deal with residential roofing problems. This means that sellers need to make sure their roofs will not only pass inspection but that they are solidly constructed and newer, rather than older. Realtors say, buyers also love it when they look at a home with a metal roof because they know it means they won’t have to mess with it. Erie Construction of Evansville, Indiana has been helping homeowners make the switch from asphalt to metal for years, and would love to show you all the pros of metal.
If you have an old roof that needs repairs, keep in mind that fixer-upper buyers will discount the price of the home to allow for the repairs and, for the inconvenience, a bit more. Say, a home is worth $100,000 fixed up, but it needs a new roof. A new roof might cost $10,000. A buyer most likely will not offer $90,000 for this home. Otherwise, they could buy an identical home with a new roof for $100,000 and not have the hassle. A buyer for this type of home might offer $75,000, or even less. In this scenario, a seller would be smarter to pay for a new roof and sell the home for $100,000.
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