In Michigan roof replacement and gutter installations are a large maintenance expense new home buyers face. Grand Rapids, Michigan and Lansing, Michigan are experiencing a seller’s market currently. Because of the large volume of home buyers, there is more buyers than homes on the market. This leaves first-time home buyers with lower budgets fewer options when shopping for a home. Supply and demand are driving up home prices and first time home buyers are being priced out.
How home buyers can be creative in a seller’s market:
1. Hold off on your home purchase until the market changes.
During a seller’s market, home prices become inflated. Many first time buyers will have a 30-year mortgage. If your home is priced $20,000 plus higher than it would be in a normal market that can increase your monthly payment considerably.
2. Be open to new neighborhoods
Grand Rapids and Lansing are hot right now, there are new businesses coming in, new construction and everyone wants to live in the up and coming neighborhoods. Talk to your real estate agent, do some research into city planning, etc. Look in areas that may be the next up-and-coming area and get in at a lower price point.
3. Select homes that need some TLC
First of all, homes that have been completely renovated will have a higher price tag. They will also be attractive to more buyers so bidding can be competitive. If you are open to a home that needs a little work you may have less competition and be able to purchase at a lower cost.
As you are touring homes in the ‘needs work’ bracket note interior or exterior water damage on ceilings, walls, floors, etc. This is a clear sign that roof replacement and gutter installations may have been neglected. Roof repairs and roof replacement are expensive maintenance items homeowners put off.
Also, when you see damage to the exterior siding, water in the basement, or foundation issues, check gutters. Gutters may not be installed properly or are clogged, broken, etc.
Especially relevant, with any home purchase plan to hire a home inspector prior to purchasing. Inspectors will let you know if the roof replacement and gutter installations should be included in your budget.
How to Plan for Roof Replacement and Gutter Installations
Can the bank cover your roof replacement and gutter installation?
Roof replacement and gutter installation cost may be rolled into your loan, depending on your financing. Guilford’s provides free estimates for roof replacement and gutter installations throughout mid-Michigan.
Consider experience, guarantee, materials, scheduling and cost.
Finally, don’t make cost the most determining factor in choosing the construction company who does your roof replacement and gutter installation. Poor workmanship and low-quality materials will cost more in short order than selecting an experienced roofing contractor and gutter replacement company. Metal roofs last a lifetime, correctly installed asphalt shingle roofs with quality materials will last 20 years or more.
In closing, installing gutters on adds a protective layer to your home. Water will not penetrate a new roof. Seamless gutters will ensure all water will be distributed far away from your home to not cause damage.
Good luck shopping for your new home! If you fall in love with one that needs some TLC we have you covered! Just give us a call for estimates on roof replacement and gutter installation,!