Your home is where your whole life is kept.  You do everything from sleep, cook, binge television, and possibly even work in this building: and all of that is protected by your roof.  Unfortunately, keeping a roof on your house is expensive, and trying to save up to try and be prepared is nearly impossible.  Here are some options for getting your roof replaced and how you may be able to afford it.

Taking Out A Loan

This option is what many people have to do to try and keep their roof up to date.  The average roof can cost five thousand to thirty thousand dollars, depending mostly on materials and what company you hire.  Although some people may have that money on hand, it’s a large amount of cash that many may struggle to come up with.  Instead, they turn to small loan companies.  These loans can have a high-interest rate, depending on your credit score, but will allow you to pay the upfront amount and get your roof replaced now instead of waiting down the line when it might cost thousands more in water damage.

Roof Replacement Grants

There are several kinds of grants that may be offered to those trying to replace their roof.  The most common is the Weatherization Assistance Program, which helps people keep their homes warm and safe even in the worst temperatures.  These operate most heavily in Northern states and do a lot of work in the South to retain heat and moisture.

Another option is for low-income individuals who need their roofs replaced.  For these people, a government grant agency may offer to cover the cost of their roof entirely.  This plan depends on their income and what their debt on the house is like at the moment.

Crowdfunding It

A less common approach with mixed results, crowdfunding replacing your roof, can be an uncertain option since it often means you’re putting your chances in the hands of strangers.  Using a site like GoFundMe, you can request that people pitch in and possibly help you reach your goal.  Less than ten percent of these types of crowdfunding campaigns are successful, so it’s important not to put all of your hope and faith into this option.  If you try to make this work, you should advocate for yourself and make sure you get it out there as much as possible.  You have to treat it like advertising.

Finance Through Your Mortgage

If you have a mortgage on your home, you can consider getting a new roof through refinancing your mortgage.  This plan doesn’t always work, and it does depend on a lot of factors.  It’s important to consider if your mortgage is over half of your income as it is and how much more you can afford to take on monthly.  When discussing this, they’ll want to go over your payment history and consider the benefits of covering this, and you may have to pay steeper interest depending on who you got your mortgage through.