If you’re like 64.8% of Americans, you have a place to call your own. That’s right, you’re a homeowner, and as such you need to contribute to the upkeep of your house every so often. This means repairing your home when a sudden emergency arises.
Everyone has had to get emergency home repairs done before. Whether you have a plumbing issue or a broken furnace, there are things that just can’t wait.
But what if you don’t have the money to afford these much-needed repairs in time? Here, we’re going to answer that question. Read on to learn some options for getting repairs that don’t require you to immediately dish out the cash.
Your first instinct is probably to use a credit card to charge home repairs. This is a good idea because it allows you to pay back the purchase later rather than now. What this means is that you’ll have more time to come up with the money you use.
Even though credit cards can be a good way to have emergency home repairs done, remember that you’re going to need to pay the credit card bill when it comes in. It can be tough to keep track of money when you can just swipe a piece of plastic and have whatever you want. Keep in mind when you charge that you are, in fact, using real money.
Apply for a Loan
A better option than swiping the credit card is probably to apply for a personal loan. These are fairly easy to get. All you need is a monthly income of over $500 and the understanding that the loan can’t go over 15% of your monthly pay rate.
Personal loans are better than credit use because you’re able to see how much money you can actually spend and make sure you don’t go over what you’re given. This makes it easier to keep track of money.
Loans are also superior because they let you apply for a payment plan that works for you!
When you apply for a loan, you might be stressed out about the idea of paying it back. Where are you going to get that much money so quickly? This can be a source of anxiety.
The good news is that you can set up a payment plan when you’re looking to pay your loan back. This way, you’ll be a lot less stressed when it comes time to pay back what you owe.
Plus, because the loan won’t be more than 15% of what you’re paid each month, anyway, payback should be more than doable. There is no cause for anxiety because your loan company will work with you!
Get Emergency Home Repairs
Needing emergency home repairs can be stressful. After all, no one wants a leaky pipe in their home, and it costs money to fix. Luckily, credit cards and loans are there to help you get the money as soon as you need it in as least stressful a way possible.
Check out our finance resources to learn more about getting the right loan for you! Good luck in getting your repairs done!