As in our previous post we talked about when is it time to replace your roof. If you have already made this decision to do so, how are you going to pay for it?
- Personal Loan
- Through Your Roofer
- Home Equity Loan
Because of the fact that there are so many factors that go into the cost of a new roof, paying out of your pocket is not exactly for everyone. Knowing this, you could be tempted to cut corners. We are not just talking about wanting cheap materials, but it could also mean not getting you the look you wanted for your roof. We strongly advise to never to do this.
Since you do own your home, you probably have the credit to take out a personal loan to finance a new roof. The downside of this is the higher interest rate. A lot of times this can raise the price of your new roof quite drastically and might not be a good choice for everyone.
Through Your Contractor
Financing through your contractor is sometimes the best option. They have the connections and know how to help you get the best options for your budget. Many times they are able to get you lower interest payments that can help save money in the long run.
Your contractor might even be able to get you a differed payment with no interest. This is the same like some car loans where you do not pay additional interest for like the first six months. They might even be able to get you in on a delay of payments and when the time is up you go back to your regular payments.
Home Equity Loan
This one can be tricky for some people and is a big decision for most. When you take out one of these loans, you are actually taking away possibly years of investment you have put into your house. Also remember that if you do not have a lot of equity in your home you are less likely to qualify for this type of loan.
Davis Roofing and Construction can help you go through all the options you have. Mostly we can get you the loan according to your needs and budget through us. After all, our best interest in not only doing a professional roofing job, we want to keep your home safe and protected. Call or contact us so that we can get that new roof on your house or building.