Hey everyone! So, we just got our offer accepted on a luxury home in Atlanta, and we're really excited about it since it's been the best fit out of 40 homes we've seen. However, there's a catch: during the inspection, we found out the roof is 19 years old. We've tried getting quotes from a few national insurance companies, but they're all refusing coverage due to the roof's age. Our realtor is suggesting we go with a local insurance company, but I'm worried that's not the best route since this house shouldn't need fixing up just yet. We love the place but are facing a big expense soon—about $25k for a roof replacement—and insurance won't cover it unless there's actual damage. Right now, we're in the due diligence period and considering our options: 1. Walk away from the deal, 2. Request the seller cover most or all of the roof replacement cost, or 3. Opt for local insurance, replace the roof later, and negotiate for the seller to lower our interest rate. We've already had the seller agree to cover all closing costs. What are your thoughts?
3 Answers
I think you should definitely ask the seller to cover the roof replacement. If they insist the house is ‘luxury,’ they should understand that it needs to be maintainable too. A roof that's almost 20 years old is a clear red flag for any buyer. If you're worried about insurance, going local for now can work while you sort this out. You might even be able to stretch out getting the roof replaced if it isn't leaking or damaged right now, just keep an eye on it. Make sure to get a few quotes from reputable contractors to use in your negotiations!
For sure! Plus, I’ve heard of people getting a few more years out of old roofs if they’re maintained properly, but it sounds like the seller should be more accommodating since you’ve already put in effort to compromise.
Honestly, it’s all about negotiating now that you’re in the due diligence phase. A 19-year-old roof can definitely be a hassle, but it’s not an insurmountable problem. If you really love the house, see if the seller can either replace the roof or at least cover a significant chunk of the costs. It’s not unreasonable to ask for concessions, especially if it affects insurability. Just keep in mind, if you can’t afford to replace the roof when the time comes, then consider if you can really handle a luxury home’s ongoing expenses. Plus, you might find a local insurer easier to work with while you save for the new roof!
That's a good point! Managing a luxury home can be costly, and you want to make sure you’re not in over your head. Can definitely see how this could lead to bigger issues if more repairs pop up.
Exactly! Plus, if the house is truly worth it, they'll likely want to sell it without those hanging issues.
I’d also be cautious and really evaluate if this house is what you want—and worth the potential extra costs involved. Think about what renovations you might have to do down the line. If you’re not in a financial position to handle a $25k hit on the roof, maybe it’s worth walking away. But I’d definitely negotiate hard for that roof!
Exactly! If you’ve found a perfect fit but just need a little adjustment, then it’s worth it to try at least!
Good points! I guess it boils down to how attached you are to this home. If it feels right, push for those concessions!
That’s great advice! And if they won’t budge on covering the costs, maybe consider asking for a lower price instead—something that compensates for the future roof expense.