Bad things come in threes. That’s how the saying goes, and never has a truer word been spoken than when it comes to issues within the home. 

Whether it’s the heating suddenly deciding to stop working right before winter, the roof starting to leak at the exact moment a storm hits or your air conditioning unit deciding to take its last breath just in time for an unprecedented heatwave, finding the funds to fix emergency home repairs can be a bit stressful, to say the least.

Fortunately, you do have several options when it comes to paying for unforeseen home repairs or home improvements. From putting your savings to good use to taking out a short-term loan to checking your home insurance, keep reading to find out five ways that you can pay for emergency repairs for your home. 

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  • Ask your family

Although this is not an option for everyone, it is a highly cost-effective one and, as such, is worth mentioning. If you have a family member or even a close friend who is willing and able to lend you the money you need on a short- or long-term basis with little or no interest, this is undeniably your most attractive option. 

That being said, it can be tough to admit to others, even ones you are close to, that you need financial help. However, if your other options are either struggling on without the necessary repairs or borrowing money that you cannot afford to pay back, you may have to swallow your pride and ask for help. 

  • Use your savings

Another good choice, if you have the means, is to use your savings, as you will not incur any interest fees. Whether it’s a rainy day fund, a vacation pot, or even money to help put your kids through college, if you have an urgent repair, especially one that could be putting you and your family at risk, it is worthwhile dipping into this pot of money. 

  • Take out a short-term loan 

Short-term loans are specifically designed for situations like these when you need money quickly and without too many questions asked. Make sure you choose an established loan company such as that specializes in this type of lending. 

Short-term loans can often be approved online, meaning you do not even need to leave the comfort of your own home to get access to the money you need. Not only are short-term loans quick to be approved, but they are also quicker to be repaid, meaning you do not need to worry about taking on debt that will take years to pay off. 

  • Check your home insurance 

It is worth checking whether your home insurance policy covers you for emergency home repairs and, specifically, if it covers the particular home repair that you need carrying out. 

For example, if your roof was damaged by a storm, you may have part or even all of the damages covered. If you in any doubt about what your current policy does and doesn’t cover, simply give your provider a call.

  • Use your credit card

This may be the first solution that springs to mind when you find yourself unable to cover the cost of home repairs, but that doesn’t necessarily mean that it is the right choice for you. Firstly, you may not have sufficient credit to cover the total cost of your repairs, and secondly, if your card has a high-interest rate, there is no guarantee that you will have finished paying off the amount before another emergency hits. 

That being said, if you do have access to the funds you need and have a relatively low-interest rate, a credit card can be a valid option.