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Covering the Cost of Home Repairs: How to Save and Plan

Photo via Pixabay by Tookapic

 

Covering the Cost of Home Repairs: How to Save and Plan

 

Paying for home repairs can get costly very quickly, especially for bigger projects such as a roof or hot water heater. Every homeowner must think about these things at some point, so it’s best to start planning now, even if you’ve only been in your house for a short time. Having a rainy day fund will really come in handy when an unforeseen issue arises since homeowners insurance only covers a very specific list of things. It can be difficult to start saving, however, especially if you are living paycheck to paycheck. Putting money aside can be tricky when you’re also saving for college funds, mortgages, and retirement. So, how do you get started?

 

One of the best ways is to do some research. Look online to get an idea of how much certain projects cost and when they typically need attention. For instance, a water heater usually has a life of about 10 to 12 years before it needs to be replaced. If you live in an area that sees a lot of high wind or storms, such as on the coast, your roof may need care more often than a home in the suburbs. Keep reading for some great tips on how to cover the cost of home repairs and upkeep and the best ways to go about saving for them.

 

Get to Know Your Roof

 

There are several different types of roofing materials available and many different parts involved, so it’s important to do a little research to find out more about the one on your home. This will help you understand which repairs might be necessary, how to do basic maintenance, and what the typical costs are. Most homeowners are eligible for insurance that will cover repair costs in the event of storm damage, but you may be liable for wear-and-tear repairs. Check out your roof and look for broken or missing shingles, especially after a storm, so that you can stay on top of leaks; this kind of water damage inside the home is typically not covered by flood insurance. Keep in mind that a roof replacement costs an average of $4,900 to $14,100.

 

Start Saving

 

Creating a savings account solely for home repairs and maintenance can really come in handy for emergencies and can reduce stress or anxiety in your life. The question remains: How do you start saving? There are several ways you can put money aside for your home’s needs. You might try cutting back on eating out and cook at home every night (as well as bring your lunch to work), carpool with a co-worker to save money on gas, and make your home more energy-efficient to save money on utilities. This can include sealing up cracks around doors and windows and installing LED light bulbs that will last for several years.

 

Choose the Right Contractor

 

While some home repair jobs are DIY, many will require a professional contractor to ensure the job is done correctly and safely. It’s imperative to ensure that you choose the right company for your needs, so do some research online before making any decisions. Read reviews, check out pricing, and compare websites to find the best fit for the job at hand. Also, don’t forget to ask for a price quote when you find one you like.

 

Covering the cost of home repairs can be a challenge for any homeowner, but if you are prepared and have a good plan in place beforehand, there are many ways you can start saving without the stress. Staying on top of maintenance will help keep those costs down, so make a list of things that need attention throughout the year.

 

Credits: Julian Lane

Tags: budget home improvement home repairs metal roof metal roofing Metal shingles metal tile metal tiles renovation right contractor roof roofing steel roof steel roofing tin roof

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Pagonya Development Ltd. “I Roof Alberta” Personal Information Protection Policy

Pagonya Development Ltd is committed to safeguarding the personal information entrusted to us by our customers. We manage your personal information in accordance with Alberta’s Personal Information Protection Act and other applicable laws. This policy outlines the principles and practices we follow in protecting your personal information. This policy applies to Pagonya Development Ltd and to any person providing services on our behalf. A copy of this policy is provided to any customer upon request. What is personal information? Personal information means information about an identifiable individual. This includes an individual’s name, home address and phone number, an identifying number, and financial information. What personal information do we collect? We collect only the personal information that we need for the purposes of providing services to our clients, including personal information needed to:
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We normally collect client personal information directly from our clients. We may collect your information from other persons with your consent or as authorized by law. We inform our clients, before or at the time of collecting personal information, of the purposes for which we are collecting the information. The only time we don’t provide this notification is when a client volunteers information for an obvious purpose (for example, when the customer leaves the information on our website requesting a quote). Consent We ask for consent to collect, use or disclose client personal information, except in specific circumstances where collection, use or disclosure without consent is authorized or required by law. We may assume your consent in cases where you volunteer information for an obvious purpose. We assume your consent to continue to use and, where applicable, disclose personal information that we have already collected, for the purpose for which the information was collected. We ask for your express consent for some purposes and may not be able to provide certain services if you are unwilling to provide consent to the collection, use or disclosure of certain personal information. Where express consent is needed, we will normally ask clients to provide their consent orally( in person or by telephone) or in writing(by signing consent form). In cases that do not involve sensitive personal information, we may rely on “opt-out” consent. For example, we may disclose your contact information to other organizations that we believe may be of interest to you, unless you request that we do not disclose your information. You can do this by contacting us over the phone or by email. A client may withdraw consent to the use and disclosure of personal information at any time, unless the personal information is necessary for us to fulfil our legal obligations. We will respect your decision, but we may not be able to provide you with certain products and services if we do not have the necessary personal information. We may collect, use or disclose client personal information without consent only as authorized by law. For example, we may not request consent when the collection, use or disclosure is in an emergency that threatens life, health or safety. How do we use and disclose personal information? We use and disclose client personal information only for the purpose, for which the information was collected, except as authorized by law. For example, we may use client contact information to deliver goods. If we wish to use or disclose your personal information for any new business purpose, we will ask for your consent. We do not share or sell any client information to the third parties. We may not seek consent if the law allows this (e.g. the law allows organizations to use personal information without consent for the purpose of collecting a debt). How do we safeguard personal information? We make every reasonable effort to ensure that personal information is accurate and complete. We rely on individuals to notify us if there is a change to their personal information that may affect their relationship with our organization. If you are aware of an error in our information about you, please let us know and we will correct it on request wherever possible. In some cases, we may ask for a written request for correction. We protect personal information in a manner appropriate for the sensitivity of the information. We make every reasonable effort to prevent any loss, misuse, disclosure or modification of personal information, as well as any unauthorized access to personal information. 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