You need a new roof and you know it. Maybe it has been leaking after rain storms and you have been patching and repairing as much as you can. The only problem is that it can cause more damage to the interior of your home. This will probably cost more than you really want to spend. There are many families, especially during these tough times, that just cannot afford replacing the roof. The main objective is to try to preserve the integrity of your home.
Many homeowners resort to using roofing compound or silicone sealant. These both can be helpful to prolong the inevitable replacement. The key is tracing the leak back to a specific area, holes or cracks on the roof. Both these options are not permanent but can buy some time.
Consider the reasons you have decided a new roof is necessary. Are shingles missing after bad storms in the area? Very often you might not even find the entry point, but find debris, particles from shingles, collecting around your property. Occasionally algae growth appears and this needs to be addressed and inspected so things don’t get worse. Water damage can affect the interior insulation, drywall, plywood, electrical systems too, and you want to repair or replace before the potential costs can skyrocket.
Protect Your investment
So now that we have decided that roof replacement is an important investment that should not be delayed, don’t let not having the money to replace your roof stop you from moving forward. This is probably the point you’d want a consultation and inspection by a roofing professional. It might be best to get a quote on the complete cost estimates for replacement. It might not be what you want to hear but it will set you on a path to see how you can manage to afford this needed work. Your local contractor should be able to work with you to make temporary repairs.
The piggy bank is empty, roof replacements can happen at the most inopportune times. Finances are not readily available for most families who are struggling. What’s the next step? Ignoring the situation should not be an option. But maybe there are other things that can help, with some effort on your part.
Financing a New Roof
There might be some common financing options available for you. If you have some equity in your home a refinance may be a way to tap into that money. It gives you the availability to complete any other major repairs you’ve been putting off for a while and you might be able to squeeze in a kitchen or bath remodel at the same time.
There is money available through federal grants covering the disabled or elderly. The National Residential Improvement Association is free to consumers and you might want to check it out to see if you can qualify for some assistance.
Your local bank might be able to help you with a payment plan that could help make getting the money easier. Creative financing is an option if you can get the funds onto a credit card, or a line of credit, that can be paid in installments. Of course, you will need to pass a credit check but possibly can negotiate a lower interest rate with your lending institution.
Keep in mind that most homeowners’ policies will cover roof replacement if it is caused by an act of nature. If damage has been caused by ice storms or snow, the company will have the last word on whether or not it is responsible. They can make an assessment as to the damage and see if its covered. They also might partially reimburse you for some underlying damage attributed to natural forces. If age is the factor it may be homeowner’s responsibility to cover the cost.
In The End, You Still Need a New Roof
At Priority Restoration we have an in-house insurance claims department and a commercial estimating group, keep that in mind. Whether we are working with a property manager, general contractor or an HOA, we understand what it takes to satisfy all of the parties involved in any given project. We are proud of the Free New Roof program we began this year and hopefully if you send us your story you might be the winner. In one of our blogs we talked about the why’s and how’s, the reasons we strive to make this all possible for one lucky homeowner in Colorado!