How to Pay for an Expensive New Roof

Roofing is one of the most important parts of our home.  It blocks out the weather, from wind to rain, and ensures that the hot sun doesn't bake us while also trapping in the heat in the winter to keep us warm.  Unfortunately, the moment a roof starts to fail, it's noticeable through leaks, poor energy consumption, and problems like mold and insect life.

New roofs are expensive, though.  If you’re trying to save up to get a new roof and are struggling to see how you’ll be able to afford that new roof, you’re not alone.  These are the top ways most people pay for their roofs.

Save Up Over the Years

This is the least common way, but it’s still something that some people are capable of doing.  The average new roof costs between five to twenty thousand dollars, depending on the size of your home and the type of roof and shingles you want to install.  If you know your roof has about ten years left in it, saving one to two thousand dollars a year is a great way to eventually be able to afford a new roof: but it isn't possible for everyone.

Take Out A Loan

Taking out a loan is an option some people go for, borrowing against their home so that they can pay it off in increments over time.  This can be good if your home is already paid off or you don't have many large monthly bills coming out of your accounts.  Unfortunately, if you have a poor payment history, this might not work for you.

Pay Via Credit

Another option some go for is buying their roof on credit.  If you have a credit limit large enough to cover a roof, you probably don’t have to worry about your payment history or score because you have it figured out for yourself.  It’s vital that when you buy a roof through credit, you pay more than the minimum, and you always pay on time.  This is the only way to ensure your score doesn’t drop from this purchase.

Seek a Grant

Getting a grant for roof replacement is often the best way to get your roof affordably replaced.  These grants come free, not requiring you to put down much of your own money, and allow you to affordably replace your roof in no time.  Although every grant has different rules, there’s a chance that a perfect one is out there waiting for you!

Ask Community for Help

Some churches and organizations are willing to help individuals in their communities to buy a new roof.  This is an option available to most people, but you have to take the time to research it and ask for it.  Some churches require that you attend and join as a member, but that’s a small price to pay for the support of others.  You could also consider starting a GoFundMe, to request help from others in the form of donations.

A New Roof Isn't Always Timely.

Every roof eventually needs to be replaced, and they don’t always wait until the exact moment you’re ready.  Plan ahead, and try to ensure you’re able to fight off the surprise at least a little bit!