A week ago a friend from church stopped me and said that because of everything our family has been through (medical issues and expenses, emergency house repairs, car dying, etc.), he was trying to line up some individuals to help us reshingle our roof that needs done! Wow! What a wonderful surprise. By having these individuals do our roof, he estimated that we could save about 40-50% on the cost of doing the roof (labor is about half the cost of any project like this). He was hoping to do it this fall when the weather is cooler.
If everything comes together, I would just need to order the supplies – actually I think two of the volunteers are self-employed consturction workers so they would order the supplies which is good since they could maybe get a discount plus they would be more accurate ordering than I would be. I am estimating that the cost of materials will be around $3000.
Because my emergency fund and house fund is tapped out, I will probably need to get a short term loan. So I have begun looking around locally and online to see about a line of credit. Since I will not know the exact cost, and I need to have something in place so I can pay for the materials, a line of credit is my best option. That way I can tap as much, or hopefully as little as I need. If we don’t have any more “emergencies”, I should be able to pay off any loan in about 6 months. Although I hate the idea of going into debt, the savings of having volunteers do the roof will far outweigh the interest I will pay – I will still be saving thousands of dollars!
Hopefully I will know one way or the other by August so I can line all the financing up!
