The roof is one of the most important parts of any house so any work done on it, from the occasional roof repair to a full replacement, is bound to set you back. Getting a new roof, in particular, can be very expensive. The good news is that you’re likely to only need to do one roof replacement in your lifetime, thanks to the long life spans of modern roofing systems.
Regardless, budget considerations are still a big factor in roofing jobs so it’s best to approach these types of projects with a little planning on how you’ll pay for your new roof replacement. Our experts at Patriot Roofing LLC recommend the following ways to finance your brand-new roof.
If you can pay for a roof and gutter installation with cash, do it. There are several advantages to this. One, you won’t have to worry about taking out loans and paying interest for however long it’s for and, two, many roofing companies offer discounts on customers who pay for their roof fully with cash. Unfortunately, saving up the money to get a new roofing system can take a while. Our experts recommend starting an emergency roofing fund at least three to five years before the end of your roof’s service life.
Home Equity Loans and HELOCs
HELOC stands for home equity line of credit and it is more or less similar to a home equity loan. Equity is the difference between the value of your house and the amount left currently on your mortgage. Many banks allow customers to borrow against this equity (which builds up over time) to do remodeling projects, including roof replacements.
A lot of reputable roofing companies offer financing options directly to their customers. At Patriot Roofing LLC, we offer a variety of options through GreenSky®. The biggest advantage to company financing is that you’re dealing with only one provider for both the service and the payment, so there’s little room for confusion.
Learn more about GreenSky Consumer Credit Programs with the help of our professionals at Patriot Roofing LLC. Give us a call at (405) 217-0473 or fill out our contact form and request a free estimate on roof replacements today. We serve homeowners in Norman, OK, and all nearby areas.