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This Old House - Do-it-Yourself

Emergency Home Repairs: 5 Ways to Cover the Costs

Written by Posted On Thursday, 12 October 2017 07:18

Your home is probably one of the most important investments you can make in life. After all, you spend the majority of your life in it. You spend time with family and friends in the comfort of your own home.

Despite taking good care of your house, it may suffer damages from time to time. You might need to replace the roofing or perhaps repair the fixtures inside your house. This is just how things work and a number of people are not prepared for it.

A surprising number of Americans haven’t prepared for emergency home repairs. In fact, more than 60% of people do not have money allocated for the necessary repairs of their houses.

If you’re one of the people who need repairs and is looking for some way to earn cash, then do not worry. Today, I will talk about the 6 ways you can cover the costs of emergency home repairs. Read on to find out!

1.    Homeowners Insurance


Your first option to get money for home repairs is your homeowners insurance. Supposing that your house is mortgaged, you will be eligible for this type of insurance.

The coverage of a homeowners insurance includes interior and exterior damages, injury while inside the premises, and damage or loss to personal assets.

There is also a limitation called the liability limit which acts as the maximum amount of money you can get. Typically, American homeowners have a default limit of $100,000, but you can increase the limit, provided that you pay for the additional costs.

2.    Home Equity Loan

Another way to earn cash for repairs is via the Home Equity Loan. This is similar to a car title loan in that you put your house as your collateral.

Usually, home repairs only require a few thousand dollars, which means that you can readily pay the loan in due time.

Do note, however, that interest rates vary, so be sure to read the fine print before getting such loans.

3.    Government Assistance

The government has funds (or grants) that allow people to get some money for home repairs. This also depends on where you live as each state or country have different laws regarding this.

The key here is to ask your local government office if you’re eligible for the grant and what requirements they need.

Typically, you will be asked to estimate the total repair cost. Also, you can ask a local government representative how much money is granted for every homeowner in your area.

4.    Cash Advance


There are also credit or cash advance programs you can avail. There are online services that will lend you the money if you have the proper requirements.

One option of a cash advance loan is the payday loan. This type of loan allows you to borrow money based on a percentage of your monthly income. You will then have to pay the money during your next payday or you can negotiate with the lender.

This is an easy way to earn money for home repairs. Remember, there are storefront lenders and there is also cash advance online.

5.    Car Title Loan

Lastly, if you have a car and it is entitled to you, you can apply for this type of loan. The principle of this loan is almost similar to the home equity loan. The only difference is that you put your car as the collateral instead of your house.

Car title loans are a quick solution to get money since approval of the loan takes only a few hours.


Home repairs are inevitable because the materials used in the construction of your house gets damaged over time.

Fortunately, there are a lot of ways to earn the money necessary for home repairs.

Listing Additional Info

  • State: California
  • Address: N. Serrano 114
  • City: LA
  • Zipcode: 90027
  • SOLD: no
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