You might have noticed that many houses in your neighborhood are getting new roofs lately. The trend is being driven by a couple of factors – the government-supported PACE program and free roof inspections.
It turns out that most homeowners are totally unaware of the condition of their roof and even more are unaware that the government facilitates financing for roof replacements.
While a small number are taking advantage of the PACE program, it turns out that most homeowners don't even know that it exists, and even fewer know that you can use it to finance a new roof.
Property Assessed Clean Energy, or PACE as it’s known, is a government-supported loan program for financing energy efficiency measuresand improvements on private property. PACE programs exist for both residential properties, referred to as R-PACE and commercial properties referred to as C-PACE.
Find out if you are eligible for PACE roof financing
5,428 have already checked and 78% were eligible
The roof over our heads is one of the most underappreciated components of our lives. It’s easy to forget that we’re comfortably insulated from the rain, sun, wind, hail, snow and pests while we remain safe and cozy inside our homes.
Many of us don't think about our roofs until something goes wrong, but by then it's too late. Too late means that there is already costly property damage that could have been avoided.
With the roof being such a vital part of our home and the welfare of our families, you would think that more homeowners would get their roof inspected in a timely fashion. Experts recommend that you have your roof checked annually and after any major storm, but most homeowners go years without having their roofs inspected. In some cases, the last time homeowners had their roof inspected was when they purchased their home. In order to encourage homeowners, many roof experts are offering free roof inspections and Californians are taking them up on the offer.
There are many advantages to a new roof:
ROI - A new roof will automatically increase your home's value. The estimated return on investment for a new roof is 85% or higher, which sets it as one of the highest that home improvement has to offer. That means if you spend around $7,500 on a new roof, you will get almost all of it back when you sell your home.
Master Suite Addition40%
Energy Savings - A big advantage of replacing your roof is the energy and in turn, the money that you will save. Energy cost savings can be as high as 20%, depending on the climate and electricity rates. There are cool roofs for hot climates and performance roofs for cold climates. If you live in a warm climate area, a cool roof will absorb less heat and can be up to 60°F cooler than conventional materials. An energy efficient roof will also reduce air pollution and greenhouse gas emissions.
Curb Appeal – Yes, looks matter, and sometimes there is no better reason to get a new roof other than the fact that it will make your house look good, really good.
If you haven't had your roof inspected in the last year, you’d be advised to get a professional inspector to look at it before it becomes a major problem. If it turns out that it’s time to replace your roof, then you should definitely take a look at the government supported PACE program that is financing many of the new roofs you might have seen popping up lately.