Are you in need of a new roof for your home, but feeling financially strapped? For homeowners in Buffalo, roof replacement is undeniably a significant investment, but one that’s crucial to the long-term value of your home. If your current financial situation is holding you back from moving forward with a roof replacement, there are fortunately ways to make paying for a roof easier on your wallet.
Here are some financing options to consider:
The first avenue to explore is typically your homeowners insurance, as some policies cover the cost of a new roof replacement or certain types of repairs. However, if your roof has experienced deterioration over the years that you have failed to have addressed, most insurance policies will not cover any form of roof maintenance. Every insurance plan is different so it’s best to learn about the details of your specific policy.
Fortunately, many roofing companies now offer long-term payment plans, making the expense of a new roof more manageable for the average customer. Depending on your payment preferences, you can opt to spread out payments over the course of months or years. While you will be charged interest, this is a great option that affords you the ability to make smaller payments over time rather than in one large sum. As you compare roofing companies, be sure to discuss payment plan options to compare requirements and interest rates.
Depending on the urgency in which you need a new roof, taking out a personal loan can be a last resort. Though this may not be the most appealing option due to high interest rates, you may be able to work with a bank or credit union on a loan that works best for you and your budget. However, keep in mind that many personal loans are short-term by nature and require repayment within two to five years, resulting in higher monthly payments that can be burdensome.
If a new roof is part of your home improvement plan for 2021, hopefully you’ve discovered there are many financing options available to make your roof replacement a reality.
Are you ready to learn more? Get in touch with AVA Roofing of Buffalo. Roof replacement financing, insurance and payment options are available, and we can help you pick the option that’s right for you. Call us today with your questions!