How To Pay for Emergency Home Repairs When You’re Broke


Emergency situations happen a lot as a homeowner. They can come out of nowhere or develop over a long period of time, metastasizing in an emergency situation but telegraphed for weeks or months beforehand. Emergencies are often costly for homeowners, and they inevitably come at the worst times possible.

For those who are struggling to maintain the existing costs of homeownership, emergency repairs can feel like the straw that broke the camel’s back.

But it doesn’t have to be this way. Managing your finances and home can be made far easier with a little preplanning, and a fallback option that can help you in times when money is tight.

Home Repairs

Continue reading to uncover great ways to ensure that you are always prepared for emergencies, or can manage through one even when the budget is extra lean.

Work on your current debt burden with intelligent strategies.

Of course, utilizing a credit card is an option that virtually all U.S. consumers have access to. The average American sports a credit limit of over $30,000 with a balance to be paid of around $6,000. This means that most consumers in the United States would have no trouble putting a required repair on a card. The problem, of course, is in paying it back without incurring suffocating interest in the process.

Another key resource for homeowners in this arena is the use of debt relief services and methods. Debt relief options come in a variety of different formats, and they can be powerful allies if used correctly. One great option is the balance transfer. Credit card owners who have low or zero balances on one or more cards can move their debt from high-interest credit accounts to those with lower interest rates. Oftentimes, a card issuer will offer a limited-time zero interest rate that is typically good for six months, a year, or even longer. This gives you ample time to catch up on payments without the seemingly-punitive addition of interest on top of the principal that you work so diligently to reduce.

Another choice here is the use of debt resolution opportunities. Working with a debt relief specialist can help you negotiate a settlement with your creditors that sees you pay pennies on the dollar instead of the full amounts, plus interest.

Emergency funds are an essential component of the homeownership experience.

Emergency funds

An emergency fund is created to cover these exact types of situations. An emergency fund is perfect for a broken window, flat tire, or furnace repair in Chicago in the dead of winter. Furnace repairs are often considered emergencies as a result of the imminent weather changes that occur throughout the year. Heating and air conditioning allow for a unique level of comfort within the home that simply isn’t possible without the tools of modern technology.

However, they do have a tendency to break down or fail altogether at the worst possible moments. This is perhaps because, in the early summer or winter months, the sudden change in outdoor temperature and other weather conditions make for a unit that has to work double-time to change the indoor air quality to your family’s liking and needs.

Emergency funding is a crucial aspect of homeownership because it allows you to utilize the money that you’ve put aside for this exact purpose rather than pulling out your credit card to pay the repair technician for a service that you simply can’t live without.

With these approaches to home repairs and the finances that hide behind the necessary work, you can navigate this stressful situation with greater peace of mind than ever before.

Tony Altidore
Tony Altidore
Tony Altidore is a seasoned journalist with nearly 10 years experience. While studying journalism at the University of Pennsylvania, Tony found a passion for finding engaging stories. As a contributor to The Tiger News, Tony mostly covers state and national developments.

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