Replacing the tile roof on our home is something has been on my mind for quite some time. All the homes in our area have tile roofs and our homeowners association required tile roofs. In the last few years we have permitted metal roofs that are formed to mimic clay tiles. From street level you can't tell the difference whether a roof is clay tile or metal tile.
The problem is the price of replacement. Our home is 2520 sq ft total and would probably be representative of the area in general. Most of the homes on our street were built in 1991 which makes them 22 years old. Some people have already started replacing their roofs, something that makes us want to move before that is required. The price to replace a clay tile roof in our area runs about $35000 and the metal roofs are slightly more. If I had to replace our roof this year and then sold in a couple years, I don't know how one could recover that cost.
Just wondering if anyone has gone through this? I was thinking that it could be set up like a home improvement loan and then if you sell, the loan could be picked up by the buyer. Then again, when a home is sold, generally all liens must be satisfied. There could be an exception to this and various thoughts go through my mind constantly. Any thoughts or experience on this subject?
The problem is the price of replacement. Our home is 2520 sq ft total and would probably be representative of the area in general. Most of the homes on our street were built in 1991 which makes them 22 years old. Some people have already started replacing their roofs, something that makes us want to move before that is required. The price to replace a clay tile roof in our area runs about $35000 and the metal roofs are slightly more. If I had to replace our roof this year and then sold in a couple years, I don't know how one could recover that cost.
Just wondering if anyone has gone through this? I was thinking that it could be set up like a home improvement loan and then if you sell, the loan could be picked up by the buyer. Then again, when a home is sold, generally all liens must be satisfied. There could be an exception to this and various thoughts go through my mind constantly. Any thoughts or experience on this subject?