Decisions When Replacing a Roof

The National Roofing Contractors Association says if you’ve already fixed a few leaks and replaced missing shingles in recent years, it’s probably time to put on a new roof. If the shingles are bare, curling, cracking or mossy, start now.

Get estimates, check references

Since you’ll be spending $5,000 to $10,000 or more, be sure to hire the right person or company. Get three estimates and check references.
Have the roofer agree to remove only as much roofing at one time as he can replace during that day.

What about tear-off?

If you already have two or three layers of old roofing, building codes require you to strip them off, adding $1,000 or more to the job. If a single layer has been on the roof for many years, it can be worth what it costs to remove it so the roofer can repair decking and worn flashing.
A rubber membrane called ice and water shield can be installed to prevent leaks when gutters freeze up.

Rent a dumpster

Unless you want the labor and expense of covering the entire area around your home with tarps and plywood, you’ll need a roll-off dumpster. As a rule of thumb, 8-10 squares of shingles weigh about 1 ton. Shingles from a single residential roof will fit in a 10 cubic yard roll-off dumpster.
As the roofer tears off shingles, the old decking and nails, they all go to a dumpster beside the house.

Selecting shingles

You’ll pay more for 50-year shingles than for 25-year, but they last longer. Architectural shingles cost a little more, but they add beauty to any building, say advisors at Money magazine.

Home Sellers Get a Few Breaks

The numbers are starting to add up for home sellers (and buyers). Statistics show consumer confidence is on the rise and that could be good for the economy.

At the same time, low mortgage interest rates are making home ownership a reality for many people.

When you add up the factors that are in a seller’s favor, it could finally be time to put up the “For Sale” sign.

If you plan to sell and buy another residence, this might be the very best time to do it. In some areas of the country, sellers are receiving multiple competing offers for their homes. In some areas, you might get a little less for your home than you want, but you’ll also pay less for your dream home.

Experts at wealthpilgrim.com give a comparison of trade-up home values. Say your current home is worth $250,000 and you want to buy one that costs $500,000. If you wait a few years to complete the deal, your present home might go for $25,000 more, but your new home will cost $50,000 more. And today’s super-low interest rates might not be there when you trade up.

There are four key elements that go into a successful home sale:

* Find a realtor who has the experience and the work ethic to advertise, negotiate, use technology and handle all facets of the sale.

* Price the property competitively. Your real estate agent will make a competitive market analysis (CMA), considering prices and features of recently sold homes in your area. He or she will help you zero in on the best asking price.

* As the seller, you need to do your part by presenting a home that is attractive, clean and uncluttered. Make any necessary repairs so the home is in “move into” condition.

* Consider your home’s curb appeal. Cut the grass, place pots of flowers by the door and make sure the windows shine.

Register For Your Down Payment

Many newlywed couples face a daunting down payment soon after marriage. This has gotten only more difficult as larger down payments are required since the reemergence of conservative underwriting standards.

A recent article in the Scotsman Guide discussed a new trend at weddings that can ease the financial burden: down payment registries.

“Homebuyers hoping to avoid the typical barrage of plates, glasses and cutlery now have a choice,” explained the article. Couples can learn about down payment registries from their loan officers and using that money as a gift fund for their new home.

Websites allowing secure payments for wedding guests to contribute is the common method, as down payment registries online can allow guests to see the homes a couple likes and feel more involved in the process, as opposed to just sending cash.

For more information about these registries, read the full Scotsman Guide article here and talk to your mortgage professional about it.