In this episode, Jerry discusses options for payment when you need a new roof. Loans, financing, split payments, etc. Make sure you are honest about your budget!
Transcription of RoofLife014-115:
Shayla: You are listening to the Roof Life of Oregon podcast and I’m talking today with Jerry, who is a roof consultant at Roof Life, and this is probably one of the first things people think about, when they know they need a re-roof. It’s just, how much is this going to cost and how am I going to pay for it? So how do you approach that, when someone asks?
Jerry: Yes, I get that question quite often. And I do get quite a few people asking me, “How am I actually going to pay for this? Do people just have that much money sitting in their banking account to put a new roof on?” Most of the time, no, they don’t. There’s a lot of different ways to go about it. There’s financing, there’s pull out your 401k, borrow against that. I don’t advise it, but it works. But there are a lot of different ways of going about how to pay for your roof. It comes down to what’s going to work best for you. Do you want a loan that’s going to last ten years? Do you want something with very low interest that’s going to only last six months to a year? Another thing you have to ask yourself is what is your realistic budget that you can pay for on this roof? You’re going to have roofing companies, including us, that’s going to ask you that question. And it’s okay to give them an idea of what you’re comfortable with. Some people just flat out don’t have a budget. And that’s on them. But there are some people that a budget is everything in their family. So when your roof consultant asks you the question, “How much do you want to spend?” it’s not so they can get to the ceiling of where you want to be. It lets them guide you on what material’s going to work best for your and your budget. Once you figure that out, money is just money. There’s different ways of obtaining it, many different loans, low interest loans, home equity line of credit, bank loans, credit unions. Take advantage of that money, because right now it’s low interest rate.
Shayla: And tell me, Jerry, with you guys, I think it’s kind of unique, the homeowner can sit down with you and create a roof that not only fits their needs but fits their budget.
Jerry: Correct. When you build a roof with us, when we sit down with you on that second visit, it is so you have control of your boat, basically. You get to drive the price and the budget for your roof. And at the very bottom, not only will it give you the price of your roof, but if you do have a finance option, or you need an option, you’re going to see what your monthly investment’s going to be with that roof that you choose. And that’s really key, because some people it’s not about how much they can spend. It’s how much they can spend on a monthly basis that works within their budget for their family.
Shayla: If you have any questions about financing or want to get started designing the roof that will fit your family’s needs and budget, you can reach out to Roof Life of Oregon. Thanks, Jerry.