It does make sense, yes, but the grammar seems off to me. If you go for nonexistance, you usually use "There is no [noun]." There is no knife in the kitchen. There are no fish in the river. There is no joy in my life. Or perhaps with "There isn't any [noun]". But "There isn't a [noun]" sounds strange.
Perhaps the reason is that "not" is an adverb, and "to be" has a pretty hard time with adverbs. If you start with "There is not a roof on the house", I kinda expect you to follow with "but an airship". Like, what is on the house instead. It sounds like "A házon nem tető van."