Among the many good reasons Canadians have for getting a home refinancing loan, home improvements and repairs are high on the list. And among those repairs and improvements, installing or repairing a roof also ranks very highly. It’s not hard to see why; roof repairs can cost on average anywhere from $5,000 – $20,000. With expenses that high, a home refinancing loan is just the answer. But that loan will only stretch so far, and you need to make sure that once the money is gone, that roof is there to stay.
Roofing companies come and go, and just because roofers did a fabulous job on your friend’s home, they may not even be around by the time it comes to fix your roof. They can also easily change their names and their business registration number, so looking them up with the Better Business Bureau may also not do you a lot of good. So how can you tell that a roofing company is reputable and will be around to start the job and finish it, while doing a quality job in the meantime? Here are a few things to look for:
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- Get quotes from 10 different companies. That’s right, 10. Yes, it will require some legwork on your part, but you’ll have a much broader choice, and likely end up getting the best roofer.
- Get a warranty. No questions asked, your new roof should last anywhere from 10 – 15 years. Make sure that your warranty will cover that time.
- Only work with companies that are bonded; this shows that they’ve endured some pretty rigorous testing to make the cut.
One of the things you’ll need to speak to your contractor about is the type of material used for your roof. This is one of the best places to cut costs when it comes to fixing your roof. Asphalt and fibreglass shingles are some of the cheapest options, with the latter also becoming one of the most popular. Metal, while it will hold up best to Canadian winters, is also one of the most expensive materials you could buy.
The worst thing you could do is leave your roof in the hands of a contractor and walk away; you need to be an active participant before and after your roof is being fixed or installed. Before you even call anyone to come look at your roof, give it a quick inspection yourself and look to see what, if anything, needs to be fixed. Looked for falling, chipped, or curling shingles or areas where the flashing has pulled away from the roof. When the job is all finished, call in a building inspector to look it over. The roof might look great to you, but a professional will be able to tell you if it’s done up to standards.
Using your home refinancing loan to repair or install a roof is a great option; it gives you a lot of money in a short amount of time in order to get the job done, and roof repairs are some of the most expensive homeowners face. Make sure that loan stretches as far as you really need it to, and make the most of your roof repair.
