Are you looking to do some maintenance or repairs on your home? These things can get expensive and we don’t always have the money on hand to get the things done that need to be done. If you pay attention to such things, there was a study done by Harvard University’s Joint Center for Housing Studies that found that nearly $300 billion gets spent each year in the US for either remodeling homes or maintaining them. That is not counting all of the repairs that need to be done but you just don’t have the money to do them.

So, what do you do when you have an issue at home that needs to be dealt with but you don’t have the money to get the home maintenance that you need? You can always just do nothing, but the issue might get worse and end up costing a whole lot more when you do decide to do something about it. However, there just might be more options open to you than you might think.

Get a Loan

You might well scoff at this, especially if you have shaky credit or if your bank has already turned you down for a loan. However, there are actually non – profit organizations out there that have been designed to assist middle class and low income home owners. They don’t have an unlimited amount of money to loan, but there is money there.

If your credit isn’t great, you might still be eligible for one of the monthly installment loans that are out there. These are quite easy to qualify for. You need a valid social security number, verifiable employment, and an active bank account. You will be able to get as much as $1,250 and the repayment terms are flexible. Also, you can get this done quickly and have the money in your account as soon as the next business day.

Grants

You might be completely unaware of this, but if you are a senior citizen and need work done on your home but you can’t afford it, the government might assist you. They offer grants to help seniors fix their homes up. You can apply for grants from the federal or state government. The states also typically have some sort of weatherization programs. These can help with things like air conditioning and heating, windows, insulation, and more.

Refinance

In this instance, try the Federal Housing Administration 203k refinance loans. This is a loan where the owner of the home can consolidate both their existing mortgage along with the cost of home improvement projects. These are easier to get if the repairs that are being done are a necessity and not just frivolous. In essence, the repairs should add to the value of the property. If you need help applying for a loan such as this, you can typically get help from your local mortgage lender.

Plan Ahead

This isn’t always possible, but if you own a home, you can expect for there to be home maintenance issues that you will have to deal with at some point in the future. This means that if you start now, you might be able to have the cash on hand to deal with these issues when they arise. You can do this by starting a fund for home maintenance. This fund can be used to pay for things like the continual maintenance of the things that you currently have. This could be things such as replacing worn out flooring or carpets, replacing air filters for furnaces and air conditioners, having the chimney cleaned, weatherproofing your deck, or even having the home sprayed for pests.

You might also start a separate fund for home improvements. This fund will be designated for things in your home that will need to be upgraded. These are things that you don’t currently have, but they can add to the value of the property if you get them. This could be something as simple as planting a few fruit trees in the yard or something as significant as getting an in – ground pool put in.

As you can see, there is always money for home maintenance and repairs to be found. You just need to know where to look.


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