Home » Resources » Improving the Home » How to Pay for a Home RepairEmergencies happen, and now you need to make home repairs quickly. You should not spend time stressing about financing home repairs. Here is more about common repair costs and how a home repair loan can help you quickly.Financing Home Repair for Life’s EmergenciesAssessing the damage, clearing it out, getting a contractor, getting an estimate, and making the repairs: With so much to worry about when making a home repair, it should be easy to access the money you need.According to a 2019 survey by TD Bank, the majority of American homeowners pay for home improvements out-of-pocket. However, others take out a home equity loan, push their credit line on a credit card, or take out a personal loan with low-interest rates and fixed monthly payments.What it all comes down to is choosing the financing option that is right for you. But first, let us take a look at commonly occurring home repair tasks and possible expenses.Common Home Repairs and Their CostsThere are all kinds of home repairs out there. Some are small projects you can do yourself on a free Saturday, while others are more extensive and require a contractor. Here are some common types of home repairs you may experience at some point in your life:1. Hot Water Heater ReplacementSigns your home may need a hot water heater replacement:Age (Rule of thumb is 10 years)Rust in your faucet waterRumbling and noise (due to a sediment build-up)Water leaking around the heater2. Roof RepairSigns your property may need a roof repair:Weather damage from rain or snowTrees and power line damageMissing, cracked, or damaged shinglesLeaks3. Frozen or Broken PipesSigns your house may have pipe problems:Decreasing water pressureIncreasing fluctuations of water temperatureWater discoloring (rust, debris, other corrosion)Clanky plumbingReoccurring leaksApproximate costs to repair a water main range from $1,400 to $2,000. To install new pipes, take $1,000 as a starting point.4. Damaged GuttersSigns your property may need new gutters:Large, visible cracks and leakingBroken seams where gutters meetPools of water or mildew around the foundationGutters have pulled away from the houseThe minimum to repair gutters and dry spouts is $300, approximate costs for gutter installation are $1,000.5. Restore Walls and CeilingsSigns you may need to restore walls and ceilings in your home:Discoloration due to weather or leaksHoles and dentsBuckling ceilings or walls from termitesPlan on approximately $1,700 for installing drywall, $1,500 for ceiling installations, and $1,200 to install trim.6. Replace FlooringSigns your home may need new flooring:Stained, weathered, or frayed carpetingChipped or stained linoleum or woodWater stains from flooding or leaksCosts to replace flooring vary based on the material and the size of the room. Expect to spend at least a couple hundred dollars for repairs, or$1,100 – $10,500 for replacements.Choose the Best Financing Option for Home RepairsAlthough many homeowners pay their home repair expenses with a credit card, there are plenty of other ways of financing. We covered the most important pros and cons in our article about the best way to pay for home improvements.What Can You do With a Home Repair Loan from Best Egg?Emergencies happen. Appliances break, pipes burst, and sometimes homeowners need a little extra money to get back to normal. While Best Egg cannot stop appliances from breaking or pipes from leaking, maybe we can provide the money you need to make repairs.A personal loan from Best Egg with established repayment terms, manageable monthly payments, and fixed interest rates may just be the right option for your home repair financing. With a Best Egg Home Repair Loan, you could have your money in as little as one business day. Hence, you can finance the required home repairs and get back your housing satisfaction as quickly as possible. Apply for a loan to see what we can do for you and your home.