Finance Major Property Repairs with a Washington Hard Money Loan
Winter months in the Pacific Northwest bring lots of wet, stormy weather. A good roof overhead is a must.
What do you do if your roof springs a leak?
Making the decision to repair versus replace a roof can be a challenge. Re-roofing too soon can be an unnecessary expenditure. Waiting too long can result in even greater water damage. But there are some factors that can point you in the right direction.
Start with a roof inspection from a professional to determine the extent of damage. And be sure to get bids for recommended repairs or replacement from two to three trusted roofing companies.
When to Replace vs. When to Repair Your Roof
Age: Roofs are designed to be replaced every 20-30 years, depending on material type. If you’re at or near the twenty plus year mark, a full replacement may be a better value than fixing individual problem spots.
Condition: If a leak has sprung in an isolated spot, a quick repair or patch may suffice. If a professional inspection shows multiple leaks, it could be time for a roof replacement. An aging or poorly installed roof can suck up a maintenance budget over time.
Climate: Slate, pitched and asphalt-shingled roofs all do well in the heavy rain, snow and wind common to the Pacific Northwest. If your Washington property roof is wood-shingled, it might be more cost-effective in the long-term to replace it than to repair it.
Property goals: Plans to sell or stay with a property can help decide whether to replace a roof. If the roof is fairly sound and you’re thinking of selling in within a year or two, repairs may suffice.
Costs: Roofing contractors should include all costs when providing a bid – materials, labor, gutter replacement, cleanup, permits. Warranties and liability should also be spelled out. Knowing the real bottom line can help decide whether to replace or repair.
Finance Your Property Repair or Upgrade with a Hard Money Loan
Roof repairs can spring up when least expected. If you need fast cash to deal with roof damage or replacement, talk to our hard money lending team. We help Washington real estate investors when conventional lenders say no. Our loan approval process is straightforward and simple: let us know your needs and if you have equity and a repayment plan, you’ll have cash in hand in under two week. Credit and employment history is not a issue. Give a call today. 1-888-477-0444 or fill out our online request form.