Help! My House Is Falling Apart and I Can’t Afford to Fix It

Owning a home is a dream for most Americans. However, it also means you can’t rely on a landlord for home repairs. The downside of owning your own home is that homeowners spend an average of $1,204 a month maintaining their homes.

This monthly cost sounds high because it also factors in insurance costs, taxes, and utilities. However, a smart homeowner should be squirreling away one to two percent of their home’s value into savings. 

If you’re thinking, “My house is falling apart and I can’t afford to fix it,” this is the right guide for you. Keep reading to learn more about affording home renovation costs.

Government Loan Programs

The American government offers many home loan programs to help ease the cost of repairs. These include the FHA 203(k) loan program, the Limited 203(k) loan program, the Title I Property Improvement loan program, and the Section 504 Home repair program. 

These programs have specific criteria, and primarily serve impoverished or rural communities.

A Community Program

Some local organizations offer assistance to homeowners in the area. It could come from a local municipality, the state, or even local financial institutions. Like federal government programs, these usually have strict requirements and are limited to impoverished members of the community.

A Home Equity Line of Credit

If you have enough equity in your home, you likely won’t qualify for the loan programs above. Instead, you can consider taking out an equity-backed line of credit. You’ll need to consider programs from different financial institutions. You can use this loan review to help guide your decisions.

An Insurance Claim

Don’t forget to check your insurance policy for home repair coverage. You . may be able to make an insurance claim that can help cover your costs. This is especially likely if your home was damaged in a storm. 

A Disaster Organization

If your home repairs aren’t completely covered by your insurance after a natural disaster, you can look to other organizations for help. Organizations like the Federal Emergency Management Agency or the Red Cross can offer emergency funds to make your home livable again.

Using Credit Cards

One of the last resorts for home repairs is using a credit card. If your project is small and you have a good credit card rate, it might be a reasonable solution. However, if your project is expensive and your rate is high, you may soon find yourself buried in debt. You may also need more money than your credit limit allows.

My House Is Falling Apart and I Can’t Afford to Fix It!

If you’re still stressed about your home and thinking, “My house is falling apart and I can’t afford to fix it,” remember to just take your home renovation one day at a time.

Also, remember not to be too hard on yourself. Emergency home repairs can happen to everyone, and it is a valuable learning experience. You can take what you learn and apply it to the future. 

For more helpful home tips, don’t forget to bookmark our page.


Jeff Campbell

Jeff Campbell is a husband, father, martial artist, budget-master, Disney-addict, musician, and recovering foodie having spent over 2 decades as a leader for Whole Foods Market. Click to learn more about me

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