Owning a home comes with its fair share of challenges, and paying for major repairs is up there. Whether it’s a leaky roof, foundation damage, a malfunctioning HVAC system, or a plumbing emergency, these repairs can quickly add up and strain your finances if you’re not prepared. This is why Code of the West Real Estate has put together the following guide packed with tips and resources to help you cover the cost of major home repairs without breaking the bank!
Hire High-Quality Contractors
Experienced and reputable contractors provide accurate estimates, work efficiently, and use quality materials, all of which can save you money in the long run.
Prioritize Preventive Maintenance
By regularly performing these maintenance tasks, you can minimize the likelihood of costly repairs and ensure your home is in good condition. Certain repairs should be completed, if needed, before selling your home.
Save a Rainy Day Repair Fund
A rainy day home repair fund is a savings account set aside specifically to cover the cost of repairs not covered by your home insurance or warranties
Know Your Loan Options
If you need help covering your major home repairs, there are several loan options available that can offer financing assistance.
The responsibility of caring for a home comes with plenty of unavoidable maintenance and repair tasks. Financing these repairs doesn’t have to be a burden. By hiring high-quality contractors, prioritizing preventive maintenance, saving a rainy day repair fund, and exploring different loan options, you can feel prepared to face any unexpected repair costs that come your way.