newjerseynewsroom.com

BY WARREN BOROSON

NEWJERSEYNEWSROOM.COM

BOROSON ON MONEY

If you own a ranch house, as I do, the news (“You need a new roof”) is especially depressing. Ranch houses have enormous roofs.

Well, at least it won’t cost as much as a new car. Although I did get one estimate for $21,000.

I own the ranch house in Woodstock, N.Y. -- it’s a weekend getaway. I live in a rented apartment in Hackensack, N.J. Fortunately, I have some spare cash, owing to my having given up on the Fairholme Fund recently and deserted that sinking ship.

The bad news came via my home insurance agency:

“After a recent inspection, you insurance carrier is asking that you have a contractor inspect the roof….”

So, I arranged for various roofers to visit and give me an estimate.

There are lots and lots of roofers around. I guess that, economically, it’s like being a real-estate agent: Make just a few sales a year, and you make a decent living.

Some roofers just measured my roof. Others also climbed into the attic to see if there were any leaks, inspected the chimney, and asked lots of questions. Some roofers said there were two layers of shingles on the roof already; some said there was only one layer. (Homeowners are discouraged from adding a third layer.)

In general, the bids were for removing the existing asphalt shingles, installing flashing, removal and installation of a drip edge, and a hauling and dump fee.

One roofer’s bid was for $7,755 – plus 8 percent in taxes, bringing the total to $8,375.40.

The bid I accepted was for about $9,000. No payment until completed, fully insured, Good Housekeeping Seal of Approval, credit cards accepted, lifetime warranty program. Approved by ServiceMagic, an organization that recommends reputable contractors.

Another bid was for $11,000.

The most memorable bid: $21,867. From a national firm!

Two guys came from the national firm. Polite as hell. Asked “Should we take our shoes off?” before entering the house. One fellow even climbed into the attic – and offered to take away the ladder I had set up and put it elsewhere. They took up a lot of their own time and my time.

After they told me their bid, their leader asked me if I could afford that. I said yes – even though I was in shock. He told there he could give me all sorts of discounts, to bring down the price. But I had already decided: No way, Jose. He was out of the picture. Way out. I had already received far lower bids from reputable places.

I guess the national firm figured that some homeowners never bother to get competitive bids.

At the last minute, it occurred to me: Maybe my roof has a few more useful years. And it’s always better to postpone paying expenses.

So I hired a home inspector to look at the roof. He charged $149; I should have bargained for $100. But he was good, actually climbing on the roof. Yes, he recommended a new roof. And gave me other good advice, like cutting down the tree branches that keep sunlight from the roof and thus encourage moss.