Three rows of $100 bills saved inside of a briefcase

One of the most expensive home improvement projects that is necessary to get done is putting a new roof on your home. It's one of those projects you can't skimp on. Roofing contractors look at several variables to determine the price of a new roof, including its size, pitch, accessibility, and cost of materials. Because of this, prices for a new roof can range drastically, anywhere from $10-15k and upwards depending on the size of your roof, shingles selection, etc.

What do you do if you're in need of a new roof, but don't have the money readily available? Below are 3 ways to pay for your roof that doesn't involve borrowing cash from your in-laws.

Insurance Coverage

Are you considering filing a homeowners insurance claim? Home insurance policies usually cover roof damage caused by fire, hurricanes, and tornadoes. Roof damage caused by wind, rain or hail, will be determined by the age of your roof and what type of policy you hold.

Your insurance company wants to protect their investments, which means if you're working to keep your home up-to-date, they'll likely help cover the cost of a new roof. Talk to your insurance company to see what sort of roofing coverage you qualify for.

Financing Options

Financing by taking out a loan through a private or public institution is how most homeowners pay for expensive projects, like a new roof. Knowing how much your new roof will cost can help you determine which type of financing to seek. Compare roofing materials to determine which are the best for your budget.

Contact a licensed contractor, like Graves Bros., to discuss roof replacement or repair options. Graves Bros offers 0%, 12 months, interest-free financing. No money down. Interested? Give us a call or email us today! We'll customize your financing plan to work with you and your budget.

Credit Card

Putting the cost of a roof replacement on a credit card may sound like a bad idea, but there are some perks to doing so. If you can get points or miles for every dollar you spend; why not! That just means free groceries, gasoline, hotel stays, and/or flights.

Have good credit? You could open a new card with ongoing benefits and maybe a 0% introductory APR period? Whichever one you choose, both will finance your new roof over a period of time.