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A thought--could you change the roof slope while you are at it? Flat roofs do not last very long.
Actually, rubber membrane roofs have a 20 year estimated life. After dealing with a leaking flat roof and facing replacing the rolled roofing in 3-5 years again, I bit the bullet and had a rubber roof installed. Lucky for me, there wasn't any rot under the rolled roofing, but it still cost about twice what other materials would have cost. I'm not sorry, though, because it hasn't leaked since.
I have a low-slope shed addition to my garage which also had a bad roof. I had a local Amishman who does construction roof it with metal, and that has worked well, too. Since the roof faces east and south, the metal heats up with any kind of sun and the snow slides off fast so there's no issue with having to hire somebody to shovel off the roof when we have heavy snow years.
A thought--could you change the roof slope while you are at it? Flat roofs do not last very long.
She stated that they have a workshop on 1/3 of the roof. A slope may not be an option. I have a co-worker that has a 3 story home at the beach and they have a private roof entertaining area with ocean views. A flat roof is needed for those kinds of things. Then again in my area we don't get a lot of rain and no snow. LOL
We need to replace our flat roof and have had a few bids. When we moved a few years ago, we knew it would need replacement "someday" but we were not in a position to do it then.
So, has anyone gotten financing for replacing their roof? Because of the dry rot and plywood underlayment deterioration, we've had bids from $17,000 to $29,000. Talk about sticker shock! We do have 3200 sq. feet of roof (almost a third of it is a workshop) and we're just trying to figure out financing options.
Thanks for your input.
We had an equity line of credit in our former home and because it was a line of credit we paid on only what we used.
Could your home qualify for a loan from the city? Some municipalities offer programs for older and/or historic homes.
We had an equity line of credit in our former home and because it was a line of credit we paid on only what we used.
Could your home qualify for a loan from the city? Some municipalities offer programs for older and/or historic homes.
We'll check that option. Thanks.
We have no equity in the house because we had a loan modification and the house lost so much value. After we bought, the real estate market crashed and so did my income (I was a realtor). We were grateful to be able to get the modification even thought the terms were not good. At the time, we had no other option other than to take the modification.
Since then, we've realized that it will take a long time to ever get the house above water and if we rented a similar property, we would be paying several hundred dollars more per month. We're opting to stay and somehow finance the roof if there is a way that makes sense.
She stated that they have a workshop on 1/3 of the roof. A slope may not be an option. I have a co-worker that has a 3 story home at the beach and they have a private roof entertaining area with ocean views. A flat roof is needed for those kinds of things. Then again in my area we don't get a lot of rain and no snow. LOL
The workshop is actually a 3 car garage and has about 900 sq. foot of roof. If we could add a pitch to it or the house portion, we would consider it, but I think the cost would be quite a bit more.
There are now long lasting membranes that work with 25 year warranty.
Actually, rubber membrane roofs have a 20 year estimated life. After dealing with a leaking flat roof and facing replacing the rolled roofing in 3-5 years again, I bit the bullet and had a rubber roof installed. Lucky for me, there wasn't any rot under the rolled roofing, but it still cost about twice what other materials would have cost. I'm not sorry, though, because it hasn't leaked since.
I have a low-slope shed addition to my garage which also had a bad roof. I had a local Amishman who does construction roof it with metal, and that has worked well, too. Since the roof faces east and south, the metal heats up with any kind of sun and the snow slides off fast so there's no issue with having to hire somebody to shovel off the roof when we have heavy snow years.
Yes, we're considering the rubber membrane type as well. Fortunately, we don't get much snow, if any so that isn't a concern... Just the rain. Lots and lots of rain in the winter.
Seems most are going off on some tangent or another. I'll stick to the question at-hand-
You'll need to get a home equity loan.
We have no equity and are very upside down. However, we are exploring renegotiating the principle on the loan so we can qualify for a 203K loan (through HUD) it is for home repairs and they can loan on a loan to value ration of 110%. We are not even close to that. When we got the loan modification, they took the amount we were behind (which was all interest) and added the interest to the principle and turned it into principle... It was like magic. but at least we had a place to live that we could afford.
Our financial situation is better, but most folks don't have roof money as pocket change. Another option is to get a low interest loan from my husband's work's credit union. Just not sure of how much
we will qualify for. We could then add a roof loan at a higher rate to complete the financing... and add a bit of our own.
I was just wondering if any of you had to get a roof loan outside of your home equity or own savings and if you did, was it tied to a particular roofing company, or could you choose your own as long as they were licensed and bonded?
Is there any pitch to the roof at all? We had a semi-flat roof that the previous owners had put flat roofing material on--not rubber though. It needed to be replaced and the bids were very high. We found another contractor in the area and he said that technically our roof wasn't flat and it could use regular shingles, which were 1/4th of the price. They have been on for about 7 years now and no problems at all.
Is there any pitch to the roof at all? We had a semi-flat roof that the previous owners had put flat roofing material on--not rubber though. It needed to be replaced and the bids were very high. We found another contractor in the area and he said that technically our roof wasn't flat and it could use regular shingles, which were 1/4th of the price. They have been on for about 7 years now and no problems at all.
I've converted a lot of low slope tar and gravel to compostion with no problems.
Manufacturers state what is required depending on slope/pitch.
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but at least we had a place to live that we could afford.
