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Should Homeowners Put Off That Emergency Home Repair During COVID-19?

dripping tap. Photo by Erik Mclean on Unsplash
dripping tap. Photo by Erik Mclean on Unsplash

The COVID-19 pandemic has been causing serious economic uncertainty worldwide since March. Millions have lost their jobs, been furloughed, or had shortages in income. This has caused many to cut back on spending, especially homeowners with mortgages they need to pay.

Most spending has become “necessity” only. House payments, food, and medications are at the top of the list. However, many homeowners have had to address emergency home repairs during the COVID-19 pandemic. This has been a serious cause for concern.

Emergency home repairs can be difficult to navigate during coronavirus. Emergency repairs like broken water pipes, leaking water heaters, and clogged plumbing can be a nightmare for homeowners. These repairs are costly, as well as risky, since fixing them requires calling in repair specialists.

The good news is that fixing home problems can be achieved during COVID-19. For instance, expert plumbers in Canberra can make repairs safe while still being affordable for homeowners. This is ideal during these uncertain times.

People who are considering putting of their home repairs because of COVID-19 should heed the following advice:

Consider The Seriousness Of The Emergency Home Repair

Understanding just how serious the problem is can help homeowners decide if they should put off that emergency repair. With that in mind, it’s important to understand the difference between emergency repair and home improvement.

An emergency home repair is a repair that needs to be done in order to ensure a home is in working order. For example, an overflowing septic system in the backyard would be considered an emergency home repair. But remodeling a kitchen is simply not an emergency, as long as all kitchen appliances, like the stove, are working correctly.

Doing the home repair independently is another consideration. For instance, a homeowner might be able to fix a water heater on their own. It is certainly an emergency home repair, but calling in repair specialists may not be necessary. It could be a matter of replacing the valve on the top of a water heater to fix the leak.

A broken dishwasher, however, may not be an emergency because dishes can be washed in the since. This home repair problem is actually more of an annoyance and inconvenience more than an emergency.

Emergencies should be categorized as such. Not all home repair will be considered an emergency home repair. Every homeowner needs to consider the options. What will life be like if the issue remains unfixed? If it isn’t fixed, could a worse problem arise in the short-term? Is it something that can be fixed? These are important questions to ask.

Paying For Emergency Home Repairs Can Be A Deciding Factor

Determining if a home repair is in fact an emergency repair in need of immediate fixing is one thing. On the other side of the coin is the actual money it will cost to fix the issue. This could be the most influential factor when it comes to deciding to put off that emergency home repair during COVID-19.

Here are a few options to pay for an emergency home repair during these financially strained times:

  • Savings. Homeowners need to decide whether dipping into savings accounts are worth it, depending on the severity of the issue. Homeowners with limited savings should think twice before using it for non-emergency purposes.
  • Home Equity. Home equity can also be a way to cover an emergency home repair. If the problem is serious enough, borrowing against a home can be a valid option, since the money is going back into the property.
  • Personal Loan. A personal loan is another option when it comes to paying for emergency repairs. Homeowners may qualify for a personal loan that covers the entire repair, and at a low interest rate. Homeowners should check with their bank first, where they’ve already built a history.
  • Credit Card. This is the last option for emergency home repair payments. Credit cards are relatively easy to get for homeowners, but they come with higher interest rates. This could be a viable option for homeowners who can pay down the credit card balance fast.

Wrapping Up . . .

Navigating an emergency home repair during COVID-19 doesn’t need to be as challenging as it seems. Homeowners definitely need to think about the repair, and ensure it is in fact an emergency repair.

Anne Lawson is a British writer who keeps her eye on business and trending issues that affect us all. She loves to delve into the real story and give us interesting tidbits we might otherwise miss.

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