For a homeowner, the winter can be particularly harsh.
The cold snow and ice ruins the once-lush lawn, the biting wind wears down paint and siding, and heavy rains and snowfall cause leaky roofs, broken shingles, and a whole host of other, often dangerous, problem areas.
But what if you don’t have the cash to fix them? Do you wait it out and cross your fingers it won’t rain anytime soon? Do you start buying lottery tickets and hope you come into some money?
Fortunately, these aren’t your only options. Here are some other, more effective ways you can pay for those home repairs—and soon.
Consider a cash-out refinance.
If you have equity in your home, you can apply for a cash-out refinance or take out a HELOC. Both essentially leverage your home equity to give you a low-interest line of credit you can pull from as needed. Consider it your very own home repair loan. Use it to make all your post-winter home repairs and maybe even do a few upgrades while you’re at it.
Do some spring cleaning.
Take some time to clean out your closets, cabinets, and garage, and get rid of things you don’t wear or use anymore. Consider selling them on Facebook or on apps like OfferUp or Letgo. You can also take them to a local consignment shop or host a garage sale. Use the funds you get toward your repairs!
If you consider yourself the handy type, there are some home repairs you may be able to do on your own. Painting, replacing siding, and other minor projects are good options for DIYing, as you can’t do too much damage should things go awry. If you can’t DIY your repairs, consider a trade-off with a local handyman.
Squirrel away some cash.
Over the next few paychecks, make it a point to take out $50 each time—or more, if you can afford it. After a month or two, you should have at least a few hundred dollars you can put toward your repairs. Once you have the funds, shop around on sites like HomeAdvisor or ThumbTack to find the best deal.
Having trouble paying for home repairs? Get in touch with us today. We’ll see if you’re eligible for a HELOC or refinance to help cover your costs.