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How Long Does a Roof Last? A Complete Guide

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Roof Last

Your house is yours forever. But the roof over your head is a different story. 

You want to know, how long does a roof last? As we said already, it won’t be overhead for the rest of your years in your house. But depending on the roofing materials used, it may be around for longer than you think.

Here’s everything you need to know about the lifespan of a roof.

Asphalt Roof: 15 to 30 Years

The majority of American homes have asphalt shingles overhead, and it makes sense why. They’re often the cheapest, and they’re ingeniously designed. The asphalt part is what sticks to your roof, and it heats up in the sun — the sticky layer makes the roof waterproof. 

On top of that, asphalt roofs last a long time and often come with a quarter-century of warranty. Most will stand up for 15 to 30 years. Check out retailers like saltlakeroofing.com if you’re interested in an asphalt roof.

Wooden Shingle Roof: Up to 30 Years

Your wooden roof will last for up to 30 years, but that’s not without a lot of work on your part. This natural material requires quite a bit of upkeep. 

You’ll also have to have your roof inspected each year to make sure you don’t have any split shingles, which could let in water. If you replace broken shingles over time, though, your roof should last for three decades — and come with a warranty for that long of a stretch.

Clay Tiles: Up to 50 Years

A clay roof is nearly ten times the price of an asphalt roof, but you get what you pay for. This material — a favorite in hot climates — lasts for 50 years or longer, on average. And you don’t have to do anything to get your roof to last that long, either. 

Manufacturers should arm you with a warranty for at least 30 years, although some will swing for a half-decade. A rare offer could arm you with a lifetime guarantee on your clay roof. That’s how durable they are! 

Metal Roofing: Up to 70 years

Speaking of getting what you pay for, a high-end metal roof can last just as long, if not longer, than a clay one. But keep in mind that there are all types of metal roofing materials, and thinner ones — that are usually cheaper, too — tend to last up to 25 years. 

Meanwhile, the thicker, higher-end metal roofing costs more, but it can last for 70 years or longer. It’s a great investment if you live in a particularly snowy area. Metal roofs are strong against snow; in fact, snow slides right off metal shingles. 

So, How Long Does a Roof Last? 

In the end, there’s no one answer to your question. How long does a roof last? It depends on the material, but it could be for the lifespan of your home. 

Need more home decor and DIY advice? Check back with us for more. 

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Real Estate

How to Rent Out Your House: The Basics Explained

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Rent Out Your House

Whether you’ve recently inherited a new house or find yourself with an empty bedroom you’d like to fill, renting out property is an excellent way to pad your wallet with some extra passive income.

That said, even though renting out your property might sound good on paper, getting started, especially if you’re new to the game, can be quite a challenge. Fortunately, renting out property is not a new concept, so there is plenty of information out there to help you navigate your first rental property.

Are you ready to get started? Here’s everything you need to know about how to rent out your house.

Prep the Space

Before you even list your space, you need to ensure it’s ready to receive new tenants. Prepping your property could mean making simple adjustments like caulking the tub or slapping on a fresh coat of paint. However, depending on the state and age of your home, you could need to undertake much more extensive repairs and renovations to get it renter-ready.

Make sure to check local codes and property laws to ensure your property is safe enough to rent.

Do Your Homework

Odds are unless you’re planning on investing in real estate with the intent of renting it out, you’re not going to have much say in how much you can charge your renters. That said, making sure you do your research ahead of time will ensure you don’t wind up losing out on any potential cash.

Before you list your rental property, make sure to shop around and see how much similar properties are going for in your area and if you can offer any amenities that would allow you to up the price.

Lay Some Ground Rules

Whether you’re renting out a home or renting out a room, when you invite a stranger into a space, you’re taking on a level of risk. One of the best ways to protect yourself and your property from any potential damage is by figuring out a few hard and fast rules ahead of time and having all of your tenants sign off on your policies when they sign their lease.

These rules can include factors like whether or not you allow pets, smoking, or even large gatherings on your property.

Find Insurance

As we mentioned before, owning rental properties comes with some unavoidable risks. While creating a lease can help protect you a little, finding a good insurance policy will make sure you can cover any unexpected damage or repairs.

Expect the Unexpected

Unless you want to have to drive out to your rental property at 3 a.m. with a plumping snake in hand, you’re going to have to plan for emergencies long before they happen.

As a landlord-to-be, it’s your job to anticipate any emergency scenario your renters may encounter and take the necessary steps to rectify those problems before they pop up. This step includes finding an emergency plumber your tenents can rely on 24/7.

While you could handle this side of renting yourself, there are plenty of property management companies out there who will take care of the emergencies for you.

How to Rent Out Your House

Now that you know how to rent out your house, it’s time to get to work preparing your property to earn you some extra cash!

Are you looking for more advice on how to get the most out of your rental properties? We’ve got you covered! Check out the rest of our blog for more helpful articles today!

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Real Estate

How Much Do You Need to Invest in Real Estate?

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Invest in Real Estate

Did you know that the size of professionally-managed real estate was valued at $10.5 trillion in 2020?

Rental income and portfolio diversity are just two of the numerous advantages of investing in real estate. Some investors resort to tangible assets like real estate when the stock and bond markets are volatile. But, this brings us to how much do you need to invest in real estate as a beginner?

Investing in second houses for short-term rentals on home-sharing sites has increased in popularity over the last decade. Thankfully, you’ve got options. Keep on reading for our full breakdown of the main categories of real estate investments and how much money you need to break into the real estate market. 

Investing for Beginners: REITs For $1,000 to $25,000 or More

The real estate investment trust (REIT), first developed in the 1960s to enable private investors to engage in the commercial real estate market, is one of the cheapest and simplest ways to add real estate to a portfolio.

Securities like this are traded on the main stock markets. They make direct investments in real estate, either via the acquisition of actual property or the financing of mortgages. It is common for certain REITs to specialize on a single kind of property or a specific geographic area.

With a REIT, an investor may get a high income and access to a wide range of real estate options. When it comes to investing in real estate, getting out isn’t always straightforward or fast. REITs are traded on the stock market.

Leveling Up With REIGs: From $5,000 to $50,000

Real estate investment groups (REIG) and private partnerships may be a good option for investors who want to own real estate rather than stock in a corporation.

One or more apartments or condos may be purchased by an individual investor via an operating business using the REIG. All of the units are managed and marketed by the operating firm. In return, a portion of each month’s rent is given to the managing business.

Investing in real estate via a REIG is a comparatively low-cost option for new investors. You don’t have to worry about the day-to-day running of the business.

Some real estate investment partnerships would take a $5,000 to $50,000 investment from potential investors.” Purchasing a unit on its own isn’t feasible, but a partnership will combine the funds of multiple investors to create a shared and co-owned property. 

How Much Do You Need to Invest in Real Estate: First Rental Property

Investment property loans with modest down payments were very simple to get before to the housing market collapse of the late 2000s. During the 1990s and early 2000s, many people assumed that home values would continue to rise indefinitely.

A lender’s worst-case scenario was to foreclose on the property, which would be worth more than the loan amount in the event of a bankruptcy.

In the end, things didn’t go quite as planned. When the price of real estate began to fall, many investors and banks lost a lot of money.

When it comes to financing investment homes, lenders tend to be a little more cautious these days, and mortgage insurance providers aren’t likely to even consider them. Most lenders want a 20 percent down payment to finance an investment property as a consequence. Even greater down payment may be needed in certain cases (perhaps 25% or 30%).

To get a traditional loan, Fannie Mae requires a 15% down payment, but only if the applicant has a decent credit score and six months’ worth of costs in reserve, as well as a low debt-to-income (DTI) ratio, which only applies to single-family houses. As a rule, a traditional lender will only loan up to 75% of the total purchase price.

A down payment of less than 20% of the purchase price is almost never accepted by specialist lenders that do not follow Fannie Mae’s guidelines for financing investment properties.

To put it simply, you should anticipate putting at least 20% down on a rental property, and we would call a 25% down payment more reasonable. Here’s how you can choose the right rental property. 

Do Your Homework

A comparative real estate study is a good idea after you identify a house you like. Finding out how much comparable houses in your region have sold for in the last few months is a good place to start.

Finding comparable-sized houses in the same zip code as the one you’re contemplating is your best bet.

When comparing two properties, be sure that the amount of bedrooms and bathrooms is comparable.

The selling prices of comparable houses should be examined once you’ve discovered several. A decent starting point for negotiations will be to compare these costs to similar items in your area. You can always check this guide on making the smart choice.

Prepare to Negotiate

Few realize that housing prices may be negotiated. To get a better deal, decrease your bid unless you are in a very competitive market. Make sure you know your figures if you decide to bargain.

This means that rather than merely delivering a “gut feeling” figure, you should be able to back it up by providing evidence, such as numbers and graphs, to back up your claim. In addition, be prepared to walk away from your property. There is a chance that you will.

Buying Real Estate and Investments: Clean and Clear

Every budding investor in the U.S. market has to take a long and thorough look at what the real estate market has to offer. After all, it’s one of the most straightforward ways to generate wealth. 

Hopefully, our guide has shed some light on the options you might have, as well as how much do you need to invest in real estate when you’re just starting.

And, if you enjoyed reading our explainer, then you’ll love checking out our other posts and strategies. All of them will be available at your convenience in our real estate and finance sections. 

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Real Estate

A Quick Guide to the Different Types of Backyard Buildings

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Backyard Buildings

Having a sprawling backyard laid out behind your home is definitely something to be proud of. Even better if you have a firepit or a hammock for relaxing and unwinding. However, having an expansive backyard is one thing, but making the most of it is another.

If you feel your backyard looks a little empty, maybe it’s time you construct a backyard building. There are plenty of backyard buildings you could put up to give your backyard that oomph. These structures can serve as extra storage, aesthetic highlights, or living spaces for your guest.

Today’s post is a quick backyard building guide on the various structures you should consider for your backyard.

Trellises

Trellises are one of the simplest structures you could build in your backyard. Although simple, they add a heap of charm to your backyard and a dash of elegance. 

Trellises serve a purely aesthetic purpose and support shrubs and vine plants. You can build a trellis to accent your backyard and give it some extra flare. Building one is a cakewalk with a little help from family and friends.

Gazebos

Gazebos are one of the most common backyard buildings in American homes. These standalone structures are permanent and require considerable skill and effort to put up. There are tons of gazebo shapes and designs you can opt for.

Gazebos consist of a roof to shield from the sun and elements. Wooden or concrete columns support the roof. Some gazebos may have a cupola or built-in benches and porch swings for added functionality.

Gazebos help you take in the outside beauty while relaxing in your backyard. The roof helps shield you from the scorching sun or rain. It’s a nice place to read your favorite books or just relax and meditate.

Pergola

Pergolas consist of an open roof supported by posts and columns for support with open sides. Just like trellises, pergolas are great for vine plants and trees. However, unlike trellises, pergolas don’t consist of latticework but instead have open sides.

Sometimes pergolas connect with other backyard structures like patios. They’re great for aesthetic effect and are also a pleasant place to relax and pass the time. 

Pergolas are pretty similar to arbors but tend to be a bit larger. Pergolas also offer slightly more privacy than arbors. 

Ramadas

Ramadas are also known as pavilions and are free-standing structures that use posts and columns for support. They are like pergolas but have closed roofs instead of open roofs. 

This makes it preferable to pergolas because the roof shields occupants from the elements. Most homeowners build them next to outdoor kitchens or fireplaces. 

Greenhouses

Having a greenhouse is a must for any serious gardener. The backyard offers an ideal space for a greenhouse to facilitate some serious gardening.

A greenhouse is an enclosed structure complete with a roof, walls, and plenty of windows. Greenhouses provide a microclimate and the optimum conditions for plant growth so homeowners can grow flowers, vegetables, and fruits.

With greenhouses, homeowners can have a thriving garden all year round regardless of the season. Greenhouses ensure plants grow under the best conditions for seamless growth and proliferation.

Patio Covers

A patio is a common sight in most people’s backyards. They’re simple to build yet have incredible functionality. Patios extend from another structure(your home) and stretch out into the backyard.

Patios are highly customizable, so you need to find a design that fits your style and taste. You can build your patio cover with a lattice and train climbing plants to grow over the latticework. Adding a solid roof will help shield you from the searing sun or rain when it pours.

Pool Houses

If you’re fortunate enough to have a pool in your backyard, don’t forget about constructing a pool house. A pool house is a standalone structure for storing pool supplies and pool-related items. You can also use a pool house to store random stuff, like gardening equipment.

Pool houses don’t have to be tiny buildings for storing pool supplies and equipment. You can build a pool house with bedrooms, bathrooms, and even a kitchen. The pool house could serve as a guest house or even a rental property for some extra income.

Mother-in-Law Suites

A mother-in-law suite or mother-in-law apartment is a separate building attached to the main house. Some people may refer to it as the granny suite or simple thein-law suite. The term was coined because the structure was a space where extended family members could move in but still give the main family some privacy and space.

It still serves the same purpose, considering 24% of individuals between 55 and 64 choose to live with their children. Apart from housing families, mother-in-law suites can be your guest house for visiting guests. It can also serve as extra storage or rental space to earn you some extra cash.

These extensions to your main home are relatively easier to build, but you might need some guidance. There are tons of resources online for building a backyard mother in law suite. Use them as guiding lights for building your suites.

Hobby Houses

Hobby houses are standalone buildings that act as storage space for your hobby and garden equipment. They’re great for people with outdoor hobbies like hiking, snowboarding, and the likes. You can also store your lawnmower, kids’ bikes, and camping gear in there.

If you’re storing bulky items, consider adding double doors to make it easier to store and retrieve items in there. Also, don’t skimp out on the design if you want it to be an aesthetic highlight in your backyard.

Make a Bold Statement With the Right Backyard Buildings

Regardless of the backyard building types, always consider what it says about you and your family. You want a backyard structure that helps define who you are and matches your lifestyle.

With backyard buildings, you can make a bold statement with a cool backyard shelter or keep things simple with a comfortable patio cover. The options are limitless, so take time to explore every option before finding something that suits your tastes.

For more informative content, check out the other posts on the site.

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