Reasonable Down Payment On A New Roof

Although replacing a roof can be expensive there are ways to finance the project to make it more affordable.

Reasonable down payment on a new roof.

In theory that s nearly the same thing as 50 down. We offer everything from term loans to lines of credit that the homeowner can use. When it comes to the cost of replacing your roof neither your neighbor nor the average homeowner is a reliable guide. Some may just ask for the full payment at the end of the job.

With a minimum of 5k financed we can get you a payment as low as 12 50 month for each 1 000 financed. You can pay a deposit but the full amount shouldn t be paid until the job is completed to your satisfaction. Massachusetts and pennsylvania limit the down payment to one third of the contract price but make an exception if materials have to be special ordered. If you have homeowners insurance you might be able to use your policy to cover the cost of a new roof.

Here are five of the most common options. For example 10 to 15 percent is suffice some states even set a maximum amount to which a contractor may ask for a down payment. On an average size roof that just takes a few days most contractors may ask for a small deposit and the balance on completion. I don t believe it s reasonable to ask for a large down payment.

However a reasonable amount. Depending on the size of the roof a contractor can easily spend a few thousand dollars just getting a roofing project started. The contractor will not have to pay for materials until after his monthly bill comes in and subs know they will not get paid until the general. In maine the initial payment on home improvement jobs can t exceed one third of the contract price.

Our financing options depend on the size of the job the down payment amount and the homeowner s credit score. According to the bbb when you ve selected the roofing company. But the owner and contractor can waive the one third limit by mutual agreement. Discuss payment you should never pay for a roofing job upfront.

Your contractor is making a major investment in you. A midrange roof replacement costs 20 670 on average according to. More than 50 in my opinion unless it is to fill a special order seems unreasonable. Anything less than 1 000 or for past customers i usually require nothing down.

5 ways to pay for a new roof.