A Roof is Good Until It’s Bad

Here’s an answer that will make people stop in their tracks – right before they hit you. The question? For how long is a roof good before it needs to be replaced. The answer? Until it goes bad.

You might have heard people talk about things like a 20 or 30 year roof, which is an estimate of manufacturers of roofing materials about how long a roof will last. But when it comes to real estate transactions, those numbers are somewhat meaningless.

Let’s say a “20 year roof” was installed on a house in 1992 (that would be 20 years ago, kids). When you go to look at the house, and find out this information, is that fact a defect with the house? No – unless, of course, there’s something wrong with the roof. If it’s leaking, structurally unsound, or otherwise defective, that’s different. But in most real estate contracts, age itself, or age in relation to the roofing material, is not in itself a problem. In other words, just because it’s old, doesn’t mean it’s bad.

There are some exceptions to this rule, but mainly limited to financing or insurance availability. Some financing programs require the roof to have at least three, five, or even longer in “effective life,” and the appraiser will make that determination or ask a roofing expert to certify that is the case. If the roof doesn’t meet those standards, then the lender can’t make the loan and the house doesn’t get purchased. Similarly, if the buyer can’t get homeowner’s insurance because of insurance company standards, the same thing happens.

However, absent these issues, a roof is good until it’s bad. Pretty smart, huh?

For more information on purchasing your first home, visit our website at www.springfieldfirsthome.com, or call or text 417.872.9222.