Dangers of Delaying Roof Repair
Homeowners might feel tempted to hit pause on such an expensive home improvement project, but delaying a roof replacement can impact the safety and efficiency of your home while adding more costly damages. This is especially the case for homeowners in states like Florida that endure hurricane level winds.
Delaying Roof Replacement Can Cause:
Damage or Loss of Shingles
The spread of moss and algae spores can cause shingles to curl, increasing the risk of shingle blow-off during high winds, moisture damage, and dark streaking that limit the effectiveness of cool roofs and are a blight to curb appeal.
Water Damage and Mold
Homes without a secondary water barrier or one that is damaged can experience moisture damage and leakage from missing or damaged shingles. This is an ideal environment for mold growth which can become a health hazard.
A damaged roof can invite pests who often cause further damage to the home like chewed electrical wires. This also makes residents susceptible to diseases, allergens, and bites from venomous insects.
Hazardous Roof Collapse
Poor drainage, water damage, and damage from weather like hurricane winds can cause roof collapse in homes with older, more deteriorated roofs. Not only can this severely damage property, but put the safety of the residents at risk.
Higher Energy Bills
According to the Department of Energy, the average household spent nearly half of their utilities on controlling their indoor temperatures. An older or damaged roof can cause leakage that increases energy bills.
Determining if Your Roof Needs Replacing
You can estimate when your roof will need to be replaced based on the average lifespan of your particular roofing material and when it was originally installed. Florida homeowners should keep in mind that the harsh weather from hurricane season can shorten their roofs lifespan or cause unexpected damages.
Investing in Roof Replacement
It has been reported by the Remodeling Magazine’s 2020 Cost vs. Value Report that a new roof can add $16,000 - $24,000 in resale value with an average of 61.2% - 65.9% return on investment, depending on the materials used. Your roof can make up a large portion of your home's curb appeal, so it should come as no surprise that 33% of realtors surveyed by the National Association of Realtors insist that a roof renovation aided them in closing a sale. An additional incentive for property owners who are considering putting their home on the market.
Financing a New Roof
To avoid delaying such an important home improvement project, homeowners can use the Property Assessed Clean Energy program (“PACE”) from Renew Financial, to finance 100% of their roofing project, with zero upfront payments. The flexibility of the PACE program allows homeowners to replace their roof and other energy efficiency home improvement projects with the urgency they deserve.
Homeowners can reap the immediate benefits of a new roof with the following key advantages of PACE:
- A competitive fixed interest rate
- No prepayment fees
- Comprehensive consumer protections
- Payment terms of up to 25-yrs.
Considering investing in a new roof for your home? Contact us today at 866-734-3936 to learn more or click HERE to apply. Approvals are fast and you could be approved the same day!
PACE financing is subject to approval. Underwriting requirements and restrictions apply. PACE financing is secured by a lien on the subject property and may be required to be repaid upon refinance or sale. Homeowners should perform due diligence before selecting a home improvement contractor. PACE financing is private financing that must be repaid in full. PACE financing is not a government subsidy. Homeowners are encouraged to use PACE financing responsibly.
Renew Financial is a private company and not a government entity. The installation or construction of property improvements financed with a PACE assessment is provided through a home improvement contractor or other third-party provider, and not by Renew Financial or a government entity. Financing provided in California through Department of Financial Innovation and Protection License No. 60DBO-90653.