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Roof replacement quotes are stressing me out about money
My roof is over 20 years old and has a few leaks now. I got a couple of estimates, and they all say it will cost about $10,000 to fix. I don't have that much cash saved up right now. What are some good ways to pay for a big home repair like this without getting into trouble?
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patriciap527mo ago
I used to believe you should only pay cash for home repairs, but my last roof job changed my mind. A home equity loan was way cheaper than putting it on a credit card, and the payment fit my budget. You should also call your home insurance, sometimes they cover part of the cost if the damage is from a storm. Getting a few more quotes can't hurt either, just to be sure.
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charlied347mo ago
Totally agree about the home equity loan being smarter than credit cards, @patriciap52. We did a HELOC for a new HVAC system last year (ouch) and the rate was like a quarter of what our cards wanted. That payment plan was the only way we could swing it without draining savings.
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