What options exist if personal finances are tight, but you think your home needs a roof replacement sooner versus later? Deciding what to do next can produce a lot of unnecessary stress. Is financing available? Are there other alternatives? A roof replacement may come as a surprise & not be in your budget. However, practical solutions exist. Let’s explore.
14 Ways To Know Your Existing Roof Needs Replacement
If you own a home, you should understand the telltale signs of a roof nearing the end of its life. Ideally, you will involve a reputable roofing company to assess your entire roofing system and document evidence of the roof’s current condition. From that point forward, the contractor can work closely with you to prepare a timeline for a roof replacement.
Consider the following observations:
#1 – You Believe The Roof Is Sagging
#2 – You See Dark Streaks/Discoloration On Shingles
#3 – You Detect Draftiness In Your Attic
#4 – You Discover Loose Or Missing Asphalt Shingles
#5 – You Know Or Perceive The Flashing Is Damaged
#6 – You Learn That The Underlayment Is Rotting
#7 – You Note Excess Shedding Of Granules
#8 – You Notice Rapidly Increasing Utility Bills
#9 – You Observe Visible Signs Of Water Damage
#10 – You Possess Curled Or Warped Shingles
#11 – You Realize Your Roof Is Nearing Its End
#12 – You See Light Coming Through Your Roof
#13 – You Spot Mold, Mildew, Moss, Or Algae Growth
#14 – You Watch Wildlife Or Other Pests Invading
A responsible homeowner routinely manages a roof’s condition and proactively investigates observed issues by touching base with an established roofing contractor to assist further.
Financially Planning For The Cost Of A Roof Replacement
The Cost Of A Roof Replacement In Colorado
As a foundation for analysis, a homeowner should understand the likely cost to replace their roof. The square footage of a roof helps determine the price of a new roof. Other factors, including pitch, complexity, and number of protrusions, affect the roof replacement expense.
8 Helpful Ways To Budget For A Roof Replacement
#1 – Assess Your Warranty Coverage
Many existing roofs (especially if Owens Corning materials were used) have a manufacturer’s and/or labor warranty. Often, roof damage is covered under warranty as long as the damage is not due to negligence. However, limitations apply. A homeowner should determine if they can recover roof replacement costs through a warranty.
#2 – Choose The Right Timing
Timing is everything. In some cases, winter is ideal, even if you need to work around weather considerations. Because of increased demand, roofing projects sometimes cost more during the late spring, summer, and early fall.
#3 – Consider The Cost Of Roof Materials
Depending on your chosen material, the cost difference between various alternatives can be substantial. An asphalt shingle roof costs about one-half as much as a metal or concrete roof. 3-tab asphalt shingles are less expensive than architectural shingles.
#4 – Make A Savings Plan
Creating a budget improves your opportunity to pay for a roof replacement. If you receive a paycheck biweekly, setting aside $100 per pay period may open the door to paying for a roof replacement within 2-3 years (if you can afford to wait that long).
#5 – Obtain A Roof Inspection
A comprehensive roof inspection lets you know your existing roof’s present condition and understand when you need a new one to create a timeline for planning purposes. In some cases, you may learn that repairs will address the issue in the short term.
#6 – Request A Roof Estimate
Budgeting is much easier when you have a specific target in mind. Securing an accurate line item roofing bid (or even two or three estimates) can help you plan. Otherwise, you don’t know what you don’t know. Take out assumptions and know the facts.
#7 – Review Your Insurance Plan
A homeowner’s insurance policy may offer a practicable avenue for the cost of a roof replacement to be covered. However, the homeowner must research the policy’s terms and conditions and/or discuss the roof’s situation with their insurance provider.
#8 – Set A Realistic Budget
There is no time like the present to begin planning by assessing your present financial situation. How much can you comfortably afford? What additional funds do you need to organize to afford a new roof? Can you increase your income or cut your expenses?
Financing A Roof Replacement Through Red Diamond Roofing
We strive to provide viable financing options for homeowners. At Red Diamond Roofing, we work with you to remove financial obstacles limiting your ability to proceed with an essential roof replacement. Our lender partner, Service Finance Company, LLC, offers a fast, straightforward application process and extends secure financing with affordable payment plans.
Involving A Reputable Professional To Replace Your Roof
If you own a home in Denver, Fort Collins, or surrounding communities, trust Red Diamond Roofing to assist with all your roofing needs. We professionally repair, restore, and replace roofs for all types of homes. We also offer financing for roof replacement projects. To learn more about our services or schedule a complimentary consultation, contact us today.
