New Roof Investment

pred02

Hi,

I have been in my current property (2 bed flat, London) for about 7 years. It's a period maisonette and about 1/3 of the property is covered with a zinc flat roof which is leaky.

I recently got married and will look to sell in the next 2 years, my question is it worth investing in a new roof - it's going to cost me £4000-£8000 with insulation etc. (currently not insulated). Will I recover my investment?

If I don't fix it, then I suspect a prospective buyer will want to knock off the price? Then the other roof (which is not leaky) is also old so they can try to go over that.

Thanks

RelievedSheff

If it is leaking get it fixed before it causes damage to the rest of the property!

AdrianC

Maisonette? Flat? Is the roof your responsibility, or the freeholder's?

csgohan4

It will be picked up by a good surveyor or worse a buyer specifically asks for a roof survey and if you hide this from them, you could lose your buyer for being dishonest or they will knock off an amount to fix it.

As above if you don't fix and it damages the property, your going to cause more issues down the line.

Bare in mind I am sure you know, insurance doesn't cover this scenario

pred02

Thanks. Would it also be worth investing into a warm roof/insulation? This is approximately £2-3k on top of the existing costs?

FreeBear

pred02 wrote: »

Thanks. Would it also be worth investing into a warm roof/insulation?

If you are replacing more than 25% of the roof, then upgrading the insulation is required by Building Regulations. Even if you are under the 25% and/or claim it to be a repair rather than replacement, it is always worth insulating.
If /when you get the work done, insist on BR approval as most buyers will want to see the paperwork. Reputable roofing specialists will be able to self certify and provide the necessary paperwork.


BUT... The roof is part of the building envelope. Are you sure it is your responsibility and not the freeholder ?

SmashedAvacado

you may not own the roof - the landlord probably does
you may not be liable for the whole cost of maintaining it - that might be split between you and the other flats
it very much depends on how your lease defines "property" and other clauses relating to what exactly it is that you own. You may find that you only have to pay 1/3 of the cost to get 100% of the value!

Doozergirl

Insulating it would be of huge benefit!

As above, it would be required the building regulations anyway, but the place will be so much nicer to live in when the roof is insulated.

You'll end up losing the cost of the new roof to any buyer who pays for a survey. Do it now and reap some of the benefit in reduced bills and increased comfort.

G_M

Please read your lease.


If you don't understand it, quote the relevant clauses about maintenance (esp of roof), and definitions (eg of 'the property' 'the building' 'the structure' etc)
here.


Who owns the freehold? You shared with the other maisonette? Someone else?

pred02

Hi. Thanks for following up. There are 2 flats in the Maisonette and me and the other owner bought the freehold, so we own a share of freehold.

I read the lease and it states:the upper maisonette (my flat) includes the roof and floors. However, the beams supporting the floor in your flat and the of the ceiling in the flat below would be shared by 1/2 if there is damage.

AdrianC

OK, so the roof is your problem.

Do you fix now, or do you live with two years of leaky roof increasing internal damage and then take a hit on the sale value (and saleability) when you come to sell...?

Hmm... Lemme think...