I Can’t Afford A New Roof. What Should I Do?
What To Do When You Can’t Afford A New Roof
If you need a new roof but can’t afford it, all hope might seem lost. However, even though you are feeling overwhelmed now, there are options that you have. If you use the right strategies, you can get your roof repaired and have peace of mind even if you can’t afford it right now:
Ask Friends and Family
If you find that you can’t actually afford a new roof right now, ask your friends and your family members. They truly care about you, and if they can afford to chip in a little bit, they will. Don’t put any pressure on the relationship for them to say yes. Simply explain your situation and hope for the best. You never know how much money you could raise from this.
Start a GoFundMe Campaign
If your friends and family aren’t able to help you pay for your roof, you can always expand the circle. Leverage social media to reach all of your contacts. Create a crowdfunding page to raise funds and awareness about your new roof. Then encourage your friends to share it on their social media so you can spread the word.
Ask Your Insurance
You never know if your insurance will cover your roof. It doesn’t hurt to ask. They may offer partial payments, complete reimbursement, or none at all, but you won’t know if you don’t try.
Seek Lenders
You might not think that a lender will give you money for your roof. However, you might be surprised to find out what banks are doing these days. Many lenders will offer personal loans that can cover the cost of a roofing repair or replacement. That way you can get it repaired and move on with your life.
Sell the Home
Selling your home is somewhat of a last resort. You should exhaust all other options before considering this. However, realize that if you are able to sell the home and the new buyers pay for the roof, you can get the equity out of your home and not have to face that expense.
When it comes to home improvements, roofs can, unfortunately, become expensive. However, if you use the tips above, you can solve your problem of not being able to afford a roof. Then, you can relax knowing that you have a plan of action that works.
References:
Roof insurance: What’s covered and how to file a claim | Insurance.com
