Experts say the average shingle roof last anywhere between 15 and 30 years. The average metal roof can last more than double that lifespan. With decades before you’re due for an upgrade, you might be surprised to notice missing shingles or loose flashing.
Unfortunately, most roofs need some maintenance to ensure it lasts as long as possible. Sometimes, these chores include recaulking the flashing and nailing down loose shingles. But other times, your issues are symptoms of a bigger problem: damage to your roof decking and water damage.
While not as expensive as an outright replacement, roof repairs can still cost a lot more than you can handle right now. But don’t worry — this article is here to help. Keep scrolling to find out ways you can cover an unexpected patch to your roof.
Talk with Your Roofer
Let them know your situation and how limited your funds are right now. They might offer alternative solutions to your roof problem, like smaller patches that act as a Band-Aid until you can drum up the funds.
Some larger roofing companies may also have financing plans, so shop around with this in mind. These financing plans often break up your payments into several installments. This way, you won’t have to come up with your entire bill in one lump sum, but rather several spread out over many months.
These plans are packaged much like your average installment loan, and they may even come with interest and finance charges. So, make sure you understand the full cost of this plan before you agree.
Put it on Credit
If you have a credit card, now might be the time to pull out the plastic from your wallet. Don’t worry if you don’t have space on this account. You can replace your credit card with a line of credit.
A line of credit works a lot like your typical credit card, with the flexibility that allows you to draw as little or as much as you need. Finding an online line of credit provider means you won’t have to put essential repairs on hold and risk damaging your home.
You can apply with a financial institution like MoneyKey to see if you qualify for a line of credit. The short term personal loans through MoneyKey provide convenient and simple applications that you can fill out in a matter of minutes. If approved, you may receive your funds quickly, letting you handle your unexpected roof repair with little delay.
Explore Government Grants and Charities
If you’re still struggling to manage your roof repairs even with financing or a line of credit, consider what your local government can do. Municipal, county, and state governments may offer grants to those who can’t afford to make essential repairs to their home.
You may also consider the following charities like Habitat for Humanity and The Coalition for Home Repair. However, you may have better luck with smaller charities that operate on a regional level, so try Googling this on your own.
Start Saving for the Next Repair
While roof repair on a budget is possible, it isn’t easy. To give yourself a break, sit down with your budget to see how you can start saving for your next repair. Because a house will always need maintenance, and some of it won’t be planned. Having a well-stocked emergency fund will make it easier to roll with the punches and handle unexpected repairs without worry.