Roof Replacement Costs and Budgeting
There is no average cost for replacing a roof because the size of your home and the work involved determines the price. But most homeowners will agree that replacing an old roof is something that they need to budget for in order to have the work done. In an emergency situation, such as a hurricane or tornado, where a roof is ripped off unexpectedly, homeowners have to figure out how to come up with a way to finance a new roof. For homeowners who realize that their roof is starting to decay and needs to be replaced, they can start budgeting and saving in order to afford a new roof. In both situations, there are plenty of options available to help budget for a new roof and some roofers offer financing and deferred payment options.
If you notice that your Cherry Hill area home has a roof that is starting to look bad, and you have a Cherry Hill roofing company assess it and tell you that you will need a new roof soon, you can begin budgeting for the cost. While most families won’t be able to save the entire amount for a new roof in a few months, just saving a few hundred or even one thousand dollars can help offset the amount you will need to finance. You can get an estimate on the work needed a few months in advance, but be prepared that there may be a chance that the cost will go up a bit before you actually start the work.
One great option for homeowners who find themselves with an emergency roof replacement is to use the financing offered by the roofing company. Many companies will offer financing, sometimes with no interest fees and no money down. This lets you get work started on the roof without having to put any initial money towards the work, and the company will work with you on payment options. You will need to fill out a credit application, but you will save money since you won’t have to worry about interest fees like you would with a regular credit card.
If you have the money budgeted for a new roof, you may be able to save money by taking advantage of federal tax breaks. You should speak with the roofing company or your accountant before making a purchase to find out the exact specifications of the tax break. In general, you will need to use Energy Star qualified materials and certain shingles, either metal or asphalt. Energy Star products are designed to offset costs associated with energy use. Roof coatings that help reduce the amount of heat buildup in a home would qualify for the tax break. The government sets the total amount allowed for the tax break, and it usually changes each year.
A final option is to use a regular line of credit to finance the roof. Some cards offer a limited time of no interest, and many give rewards or points for using the card. If you can’t get seller financing through the contractor, you can apply for a regular line of credit. Talk to a roofing contractor for your options so that you can protect your home with a roof that offers protection and great looks.The roofing experts at Fortified Roofing of Cherry Hill NJ can assist you with any questions regarding a new roof or skylights.
Term & definition explained by Fortified Roofing, Cherry Hill NJ:
No money down
No money down means that you won’t need to put any money towards a new roof or roof repairs until the company is finished with the project to your satisfaction. This also refers to not having to make a down payment when using company financing. The company will arrange for specific payment terms.
Do roofing companies finance?
Some roofing companies offer financing to customers either in-house or via a financing company. When working with a roofing company who offers financing, make sure to check the interest rate and down payment requirements. Some companies will offer you the option of an interest free financing arrangement with no down payment requirements. Others will charge you interest and require a certain percentage as a down payment.