Buying a house. Roof has several leaks and has heavy granule loss.

7/14/2019 at 8:51:40 PM

Lucas, if you have to replace part of the roof (shingles) don't just do patch work, do the entire roof. Depending on the size, you are looking at about five to ten thousand .. or more. So, yes, talk with the seller and negotiate a better selling price or don't buy the house. You may like it but let common sense take priority.

7/15/2019 at 10:09:10 AM

Whether or not to ask for an allowance for the roof depends on how the house was priced in the first place and how motivated the seller is.

7/15/2019 at 12:21:13 PM

In addition to the roof system which has already failed [you have stated there are several leaks inside the home therefore the roof system has already failed] you also need to look at the status of the insulation. If you intend to live at this property for a number of years, particularly in Edmonton where it is cold even by Canadian standards, you want to have good shingles, adequate or superior ventilation and a proper vapor barrier and insulation. You will be paying more for your energy bill every month if these items are not in good order. There is also the possibility of damage to structural lumber, which is expensive to repair, if you do not address these items soon.

The number you need to carry in your mind is $12,000 - $15,000 [based on an average sized home] to address the new roof system, ventilation and the insulation.

Do the math yourself and see if you are getting good value for the purchase price knowing that you need to spend this money afterwards. Will you have enough immediate equity in the property to get a loan to cover these items?

Once you own a home you also inherit the problems associated with it.

Unless you are getting a spectacular deal on the price I would keep looking...