How to Finance Your Home Repairs

Do you have some home repairs that need to be completed, but are not sure how you are going to finance the repairs? If you are having a tough time getting your finances together, pressing home repairs can further your troubles. Fixing parts of your home can be very expensive, and unless you have a good amount of money set aside for this purposes, you are going to have a very hard time securing the funds you need in order to do so. However, there are a few options available to those that would like to fund repairs without having any money set aside for them;

Government Funding and Grants

In some circumstances, you might be able to receive funding from the government in order to help you fund your repairs. There are a number of different grants that are available to those that are looking to repair their home, depending on a number of different factors. If you feel like government grants might be a legitimate funding source, you need to start by applying for as many grants as you possibly can. Your acceptance rate is likely going to be low, but it only takes one accepted application for you to receive the help that you need.

Funding From Insurance

In some circumstances, your home insurance provider may be willing to offer you funds for some repairs and improvements. Keep in mind that most of the repairs that your insurance company is going to be willing to fund, are going to be those that mitigate risk for the company. The types of repairs that many insurance companies are willing to fund include new gutters for homes to lessen the risk of roof damage from old faulty gutters, and other repairs that act as preventative measures for damage in the future.


Another option that you need to take into consideration when looking for funding to help you to make repairs in your home is loans. If you have credit that is solid enough to be accepted for a loan, you can use that loan to make repairs to your home. Remember that these repairs to the home are going to increase the value of the home overall, so while you not be able to receive those funds back immediately, the investment could pay off greatly for you in the end.

Equity Loans

Have you ever considered taking out loans that are backed by the equity of your home? When you purchase a home, and that home goes up in value over time, the additional value of the home is referred to as “equity.” This equity can be used as collateral to secure a loan, and will allow you to make repairs to the home, which may even create additional equity if the home’s goes up in value.


You can also use any savings that you have to repair your home. Of course, this takes some foresight, because you have to be sure that you are able to save enough to conduct each of the repairs, but will be a lot less worrisome than having to take out a loan, or go through the grant application process, which can be quite long and stressing.
Repairing your home is an important but expensive aspect of home ownership. If you are looking to make large repairs, but do not have the funding to do so, there are multiple options available to you that can help you to secure additional funding to raise the value of your home.

Author Bio: Stevie Clapton helps provide great financial articles for, where you can also find quick online home in

Leave a Reply

Your email address will not be published. Required fields are marked *