Planning Your Repair
You’ve been planning that special getaway for months now and nothing is going to get in your way…that is, until your roof springs a leak.
There’s nothing worse than an unexpected home maintenance expense popping up at exactly the wrong time. And, let’s be honest…is there ever really a right time for costly home repairs? (I think not.)
But, before you go to scrapping your vacay plans just yet, we’ve got some pointers that might be able to help you keep your plans (and your roof) in place…without overextending your budget (in a big way)!
Roof problems can be a homeowner’s worst nightmare. As one of the most expensive common home maintenance tasks out there, the average roof repair or replacement job can cost up to $6,000 (or more)!
That’s why roof financing is such a popular choice when it comes to covering this cost. But, that’s only for those who are lucky enough to know how it works.
If your faulty roof has you worried about breaking the bank, read on to learn how you can hold on to the roof over your head…without spending your very last dollar to do it!
Roof Financing 101: How It Works
In this post, we’re sharing a simple crash course on roof financing. Here, you’ll find out the steps you need to take before you split town…so that you don’t come back to a roofless abode.
1. Consider Your Sources
Roof financing can happen in many ways, depending on what you have available to you in terms of credit. Everyone’s financial circumstances are unique, but there are several financing options up for consideration, including:
A Personal Loan
Personal loans offer a quick fix to almost any financial crisis. For those with higher-than-average credit scores, there is usually a sea of lenders available.
Of course, there are personal loan options around for those with less-than-perfect credit scores, as well. But, these customers can usually expect less desirable loan terms, such as high-interest rates and reduced time to pay back what they’ve borrowed.
Credit cards are another viable option for many homeowners. But, you may not be comfortable using up a large amount of your accessible credit in one blow.
High-interest rates, along with added transaction and/or processing fees, can be additional consequences that come with credit card usage.
Friend or Family Member
Although it may not be the most desirable option, depending upon your circumstances you could have the option to “phone a friend.” Asking a trusted friend or family member for a short-term loan may not be a bad idea when you’re facing an emergency roof repair.
Just be sure that the terms of the loan are clear from the start, and that your lender has the disposable income to grant your loan without incurring financial strain on themselves.
Government Home Improvement Loan
The Department of Housing and Urban Development does offer government-backed loans that might be able to cover your roofing costs. But, beware these loans carry strict terms and are only available to a select group of property owners.
Before you consider a government home improvement loan as a possible option, be sure to take a look at the official HUD website to find out more.
The Roof Company’s In-House Financing
Some modern-day roofing companies appear to toss their customers a lifeline in the form of in-house financing. But, be careful of the strings attached to this type of offer.
Sometimes, customers might find themselves sacrificing quality, experience, or expertise to obtain a means to pay for their roof repair.
First, look for a high-quality roofing company. Then, speak with their team directly to learn about all of your roof financing options. After all, they are the experts.
Who knows? They may even know of a few additional avenues for financing that are not listed here.
Home Equity Loan
A home equity loan is often one of the most reasonable ways to access the funds you need for home improvements. Many times, customers can justify taking out a home equity line because of the return on their investment that it will provide.
Home equity loans typically offer a considerably low-interest rate and give homeowners a substantial amount of time to repay their debt.
If you have lived in your home for a year or more, chances are that this form of credit will be accessible to you.
A home equity line can also allow the borrower to lump in additional home repairs that might be pressing.
2. Don’t Wait
It might be easy to shuffle expensive home maintenance tasks to the bottom of your to-do list. But, resist the urge to put your roof problems off.
Unfortunately, what might begin as a roof repair can quickly turn into roof replacement if you aren’t careful.
3. Check Around for the Best Estimate
It never hurts to speak to more than one roof company when choosing the right professionals for the job.
Many high-caliber roofing companies offer a no-obligation, free estimate. So, you have nothing to lose by shopping around to get the best price.
Ready to Get Started?
Now that you know a little more about potential roof financing options, you’re ready to take the first step towards a solution to your roofing woes.
Get started today by obtaining a risk-free, no-cost estimate for your roof repair or replacement.
Landmark Roofing provides a quick and easy online estimate form that can be completed in less than two minutes. They can also help you determine the most cost-effective route to fixing your problem at hand.
With the help of their expert roofing team, you can feel confident that you’re getting the best quality for the best price possible.
Contact Landmark Roofing now to find the help you need and quality that you can trust…at a price that you can afford!