Key Takeaways –
- Accidents don’t ring a bell before striking. A roofing accident can leave you shelterless and in desperate need of help.
- You can pursue options for financing a new roof; however, not every opportunity is available.
- Roofing accidents are different from roof installation, which is well-planned in advance.
- Personal and home equity loans and funding from family and friends are possible financing options. However, each has its drawback.
- If you’re looking for options to finance a new roof, Iron City Construction LLC offers just what you’re looking for.
When your roof starts leaking, and you must start patching up the holes with a tarp, it’s time for a roof replacement. But, with the cost of a new roof, it can be tough to justify shelling out that kind of cash all at once. So, what do you do? You could take out a loan from the bank, but who wants to pay interest on top of an already expensive repair job? Luckily, other financing options can help spread the cost of a new roof over time. Here are a few reasons to finance your next roof replacement.
Signs You Need Urgent Roof Replacement
Before we shed light on options for financing a new roof, let’s discuss situations and indicators which suggest you need an instant roof repair or replacement. You know, the one that breaks the bank!
Your Roof is More than 20 Years old.
If your roof is approaching or has surpassed the two-decade mark, it’s time to start thinking about replacing it. Most roofs have a lifespan of 20 to 25 years, so if yours is getting older, it will not last much longer.
Considerable Increase in Energy Bills
A sudden spike in your energy bills could be due to your roof not being as energy-efficient as it used to be. This is especially common in older homes with roofs past their prime.
You Have Missing Shingles.
Missing shingles are more than just an aesthetic issue; they’re also a potential safety hazard. If you have any missing shingles despite scheduling frequent repairs and consistent upkeep, it’s time to invest in a new roof before the situation gets worse.
Your Gutters are Clogged with Shingles
If you’ve noticed that your gutters are starting to fill up with shingle granules (the little pebbles on top of the shingles), it’s a sign that your shingles are beginning to deteriorate and will need replacement soon. This isn’t necessarily an emergency, but it’s still something you’ll want to keep an eye on.
Sudden Roof Damage
Your roof is exposed to the elements 24/7, so it’s not surprising that it will sustain some damage over time. Most of this damage is minor and can be repaired as needed. However, if you experience sudden or significant roof damage, you must call a roofing professional immediately, as this could signify a more serious issue.
Also, read – Potential Roof Problem Areas and How to Inspect Them
Financing Your Roof Replacement – Options
The average cost of a new roof’s between $5,000 and $10,000, not including the labor cost. Not surprisingly, many people turn to finance options to help fund their roof replacement. Here are six ways you can finance your roof replacement:
Home Equity Loan
You may be eligible for a home equity loan to help finance your roof replacement if you have home equity. Home equity loans are available at lower interest rates than personal loans and credit cards, making them an attractive option for many homeowners. Shop for affordable rates and terms before taking out a home equity loan.
If you don’t have equity in your home or would rather not put your home up as collateral, consider taking out a personal loan to finance your roof replacement. Personal loans typically have higher interest rates but can still be cheaper than a credit card. As with home equity loans, shop for the best rates and terms before taking out a personal loan.
A credit card may be your only option if you cannot get a loan or don’t want to put up your home as collateral. Unfortunately, credit cards typically have high-interest rates, so this should only be used as a last resort. If you use a credit card to finance your roof replacement, pay off the balance as quickly as possible to avoid accruing too much interest.
Family and Friends
Perhaps one of the easiest ways to finance your roof replacement is by asking family and friends for help. If you have loved ones willing and able to lend you the money required for roof replacement, this can be a great option. Just be sure to draw up an agreement detailing the repayment terms, so there are no misunderstandings.
Another option for financing your roof replacement is crowdfunding. Numerous websites allow people to solicit donations from strangers for any purpose imaginable. While it may seem like a long shot, there’s no harm in trying—you never know who might be willing to help finance your roof replacement project!
The Ultimate Roof Financing Option – Iron City Construction LLC
A few things in life are certain: death, taxes, and the inevitability of needing to repair or replace your roof at some point. No matter how well you take care of your home, eventually, your roof will succumb to the elements and need to be repaired or replaced. And when that time comes, you’ll need to find a way to finance the repairs.
Luckily, there are several options available to you. You could tap into your home equity, take a personal loan, or put it on a credit card. But those options all have their downsides. Home equity loans can be challenging to qualify for and take quite a while to process. Personal loans usually have high-interest rates. And putting it on a credit card means racking up a ton of debt that will take years to pay off.
That’s why we’re proud to offer to finance roof repairs and replacement with rates as low as 1.49%. Not everyone has the cash to pay for unexpected repairs, so we offer convenient financing solutions to help get your roof back in tip-top shape. And because we’re a family-owned business, we firmly commit to the community and providing quality results. So, if you need urgent roof repairs but don’t have the cash, you can count on us to get the job done right. Contact us today to learn more about our financing options and get started on your roof repair or replacement project!
If you’ve been putting off getting a new roof because you don’t have cash, now is the time to stop procrastinating. At Iron City Construction LLC, we offer financing for your convenience so you can get the roof you need without breaking the bank. Give us a call today and schedule a consultation. Your new roof is just a phone call away in Pasco County!