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10-27-2008, 08:52 PM #1Master Dollar Stretcher
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Roof repair - one step forward, two steps back
Arghh. The roof repair company is coming out on Wednesday to re-roof the house, with an estimate of approximately $4,000. I was hoping they could just patch it, but the guy says the roof that is on there now is the original. It was done with 20-year shingles, and it has been on there about 30 years now. I am going with a 40-year shingle, mostly because they are guaranteed for up to 90 mph winds, and we get some doozies up here on the bluff.
Looks like that total debt balance is going to go up this month.
DH aka Mad Hen
(http://mad-hen-creations.blogspot.com/)
June no-spend: 0/15 
June wasted money: $0 
June grocery: $0/400
2012 LAPAW: 8.8/20 
2012 Get-Thee-To-The-Gym Challenge: 7/52
: 1136/66,795 
Run/walk challenge: 91/520 miles
Total debt (with mortgage, HELOC, and 1 cc): Jan 2012: $285,105 (Jan 2011: $292,750) 
(2911 days until retirement)
Live as if you were to die tomorrow. Learn as if you were to live forever. Mahatma Gandhi
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10-27-2008, 08:57 PM #2Registered User
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sorry that the roof is adding to your debt load, but I guess it's better to get it done now, than have a leaking roof and possible damage to the structure or something else that would end up costing even more. ((((hugs))))
Starlight
mama to:
dd (13)
and ds (8) 
married to DH for 14 years
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10-27-2008, 09:06 PM #3Master Dollar Stretcher
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Thanks, Starlight. Yes, it leaked last winter and caused some minor damage to the interior. I had it patched, but we had a little "mini-storm" and it leaked again, so I figured I had better get it done right. I have a small roof, but it is very steeply pitched, so it costs a bit more (danger pay
) to get someone up there!
I am going to see if I can sweet talk them into taking the old t.v. antennae down while they are up there.
The nice thing is that they don't have to remove the existing roof, so I won't have to worry about picking up old shingles for the next several months.
At least it is coming out of the HELOC, rather than a 19% interest credit card!!Last edited by madhen; 10-27-2008 at 09:07 PM.
DH aka Mad Hen
(http://mad-hen-creations.blogspot.com/)
June no-spend: 0/15 June wasted money: $0 June grocery: $0/400
2012 LAPAW: 8.8/20 2012 Get-Thee-To-The-Gym Challenge: 7/52
: 1136/66,795 Run/walk challenge: 91/520 miles
Total debt (with mortgage, HELOC, and 1 cc): Jan 2012: $285,105 (Jan 2011: $292,750) (2911 days until retirement)
Live as if you were to die tomorrow. Learn as if you were to live forever. Mahatma Gandhi
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10-27-2008, 09:33 PM #4Registered User
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Isn't that the way things always seem to happen? At least you'll have a nice new roof once it's done and you won't have to worry about water damage.
Last edited by Michelle68; 10-27-2008 at 09:34 PM.
~ Michelle
Wife to DH--
Mom to DS--
and DD--
Avatar picture--Taken at Comanche Lookout Park, San Antonio,Tx. April,2010
Mortgage -- $53,077.24
March Emergency Fund Challenge-- $100 /$200
----------------------
"The time to save is now. When a dog gets a bone, he doesn't go out and make a down payment on a bigger bone. He buries the one he's got." --Will Rogers
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10-27-2008, 09:53 PM #5Master Dollar Stretcher
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Yes, I try to tell myself that if I amortize it over the life of the roof, it isn't really THAT expensive.
DH aka Mad Hen
(http://mad-hen-creations.blogspot.com/)
June no-spend: 0/15 June wasted money: $0 June grocery: $0/400
2012 LAPAW: 8.8/20 2012 Get-Thee-To-The-Gym Challenge: 7/52
: 1136/66,795 Run/walk challenge: 91/520 miles
Total debt (with mortgage, HELOC, and 1 cc): Jan 2012: $285,105 (Jan 2011: $292,750) (2911 days until retirement)
Live as if you were to die tomorrow. Learn as if you were to live forever. Mahatma Gandhi
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10-27-2008, 10:16 PM #6Registered User
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I think you will like havijng a new roof.
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10-27-2008, 10:45 PM #7Registered User
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Yep, a new roof is better than having to continually repair things. Sorry that it is spendier than you wanted to spend though. But, think how much you will save in the long run not having to do all the water damage repairs.
Beak-1996, Toad-1998, and Q-1998
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10-28-2008, 08:48 AM #8Registered User
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One good thing is you know it will last for many years!
~July 19 saving goal for event $104/$1000
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10-28-2008, 11:20 AM #9Master Dollar Stretcher
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Well, at least forty!
DH aka Mad Hen
(http://mad-hen-creations.blogspot.com/)
June no-spend: 0/15 June wasted money: $0 June grocery: $0/400
2012 LAPAW: 8.8/20 2012 Get-Thee-To-The-Gym Challenge: 7/52
: 1136/66,795 Run/walk challenge: 91/520 miles
Total debt (with mortgage, HELOC, and 1 cc): Jan 2012: $285,105 (Jan 2011: $292,750) (2911 days until retirement)
Live as if you were to die tomorrow. Learn as if you were to live forever. Mahatma Gandhi
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10-28-2008, 11:29 AM #10Registered User
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AUUUUGGGGHHHHH!! Not more debt I bet you are thinking....well think positive at least you will be warm and dry and will not experience wet furniture due to the roof falling in.
Baby Step #1 Done!
Baby Step #2 Beginnning debt balance 01/01/08 $78K /Paid in full on 08/06/10
I'm debt freeeee............ GOD IS SO GOOD!!!
Baby Step#3 Goal: One year emergency fund began saving Jan 2011 accumulated Aug 2011 YIPPEE!!! God is sooo good to me!!!
Baby Step #4 Yep currently doing this.
Baby Step #5 No kids so no need.
Baby Step #6 Renter.. Working on putting 100% down on a house!!! Currently have 25% saved.
Baby Step #7 Someday.......
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10-28-2008, 11:33 AM #11Registered User
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Sorry about the set back but at least it will be new , last a long time and be done right for you the first time. My friend just got a metal roof with solar panels pretty cool but costly.
ETA I just wanted to tell you I always love your posts, your are such an inspiration!!Last edited by HappyMama; 10-28-2008 at 11:33 AM.
*Angel*
Dave R. Plan
Step one - Done
Step two-Done
Step three-Done
Step four-Done
Step five- Working on
Step six- almost done
Living debt free except the mortgage and working on that !!!
Be content with what you have;
Rejoice in the way things are,
When you realise there is nothing lacking,
the whole world belongs to you.
-Lao Tzu
Have Courage
“Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires…courage.” Ralph Waldo Emerson
"I've learned that you shouldn't go through life with a catcher's mitt on both hands; you need to be able to throw some things back..." Maya Angelou
"Choose a job you love and you will never work a day in your life." (Confucius 551-478 BC)
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10-28-2008, 11:56 AM #12Master Dollar Stretcher
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I would love to get solar panels, but it is beyond my budget right now. My roof is pitched perfectly for them, though.
DH aka Mad Hen
(http://mad-hen-creations.blogspot.com/)
June no-spend: 0/15 June wasted money: $0 June grocery: $0/400
2012 LAPAW: 8.8/20 2012 Get-Thee-To-The-Gym Challenge: 7/52
: 1136/66,795 Run/walk challenge: 91/520 miles
Total debt (with mortgage, HELOC, and 1 cc): Jan 2012: $285,105 (Jan 2011: $292,750) (2911 days until retirement)
Live as if you were to die tomorrow. Learn as if you were to live forever. Mahatma Gandhi
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10-28-2008, 12:04 PM #13Registered User
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Sorry about the roof! Always frustrating when you have to add to the debt instead of paying it down
Wife to DH since 2004
Mother to
DS#1
2004
DS#2
2008
Registered Nurse
Baby EF: $1000/$1000
Debt Snowball
CC #1 - Done!
CC #2 - Done!
CC #3 - Done!
CC #4 - $650
DH Student Loans$3,900$3,400
My student loans $36,750
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10-28-2008, 06:12 PM #14
shouldn't they remove the old roof? (worried....)
i recommend 110 mile per hour shingles. "ike" did not faze my roof.11% gross to retirement
10% takehome to tithe and offerings
emergency fund maintained at 3000(works for me)
credit card debt 7500
mortgage free
freedom accounts/sinking funds that ebb and flow
then live on the rest!
i am trying something new. LDS church advises savings or debt repayment should be the same as the tithe. 10% each.
"i create prosperity, abundance, and savings for me and my household"
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10-28-2008, 06:58 PM #15Registered User
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That definitely stinks. We are in need of new roof in the near future also. It seems like everything hits you at once. Sending you a big hug!!
taking one day at a time, trying to get rid of debt!!
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