Homeownership is something that can bring about a huge sense of pride. Knowing that you have this space that you can call all your own and that you can do whatever you like with it is such a rewarding and freeing feeling. And while homeownership is certainly filled with all kinds of benefits and warm feelings, there are those times when it can be rather expensive and stressful.
Emergency home repairs can be necessary at any point, even if you try your best to stay on top of maintenance and repairs. Whether you own a brand new home or an older one, things happen and you can suddenly be faced with a messy and urgent situation. So rather than get caught up in the stress of the moment, we’ve gone ahead and laid out a guide that will help take you through the basic initial steps of emergency home repairs.
Assess the Damage
First things first, you need to know what you’re working with. This isn’t the time for guesses; you need a proper assessment of the situation and the damage. Often this means bringing in a contractor or professional to identify the issues.
It’s a good idea to have a list of contractors/repair people that you can call on in case of an emergency. Be sure to list services that are available out of hours, as it never seems to fail that these emergencies seem to happen outside of regular office hours.
Now if this situation is caused by a large-scale emergency where many homes are affected, you’re probably going to have to go through a number of contractors before you find one that is available.
Speak to Your Insurance Provider
Depending on the damage, you may actually be covered by your home insurance. It’s a good idea to call your insurance agent right away to speak to them about the situation and what kind of home insurance coverage you have (buildings, contents, or a combination).
Find Cash to Pay for the Repairs
If the damage isn’t covered by insurance, then it’s on you to come up with the cash to pay for these repairs. The problem with emergency home repairs is that they aren’t expected, so there’s a good chance you don’t have extra money lying around to pay for it.
One option that could work and provide you with the funds you need is a logbook loan. If you own a car, a logbook loan will allow you to use the vehicle as collateral/security. The lender will then own your car until you pay back the loan, but you will, of course, still be able to use it in the meantime. The amount you can borrow will depend on the value of your car.
CarCashPoint, carcashpoint.co.uk, offers just these types of loans and even boasts “instant loans”, which are ideal in those emergency situations. The loan terms range from one to five years, and you can set up weekly or monthly payments.
Getting Through the Situation Unruffled
By using these tips and staying calm, you’ll be able to get through these emergency home repairs.