Every homeowner should start an emergency repair fund. There’s a long list of items that an emergency fund can help pay for—here are a few of the most common ones.

Broken Appliances

Broken appliances can be surprisingly costly. A repair fund will come in handy when you’re trying to repair these. Upon finding a broken appliance, many homeowners struggle to decide if it will be more cost-effective to repair it or to just replace it entirely. There will be pros and cons to each of these options.

Repairing a broken appliance is often less expensive than replacing it entirely, and it makes a smaller carbon footprint as well. However, replacing a broken appliance may be necessary if it’s beyond repair. A new appliance will look better aesthetically and will work better too. Dealing with a series of repairs can sometimes be as expensive as replacing the appliance altogether. Regardless of your final decision, you should maintain a repair fund in your budget so you’re able to see your chosen solution to fruition.

Plumbing Issues

Plumbing issues can take a big bite out of your budget. Clogged drains, leaky faucets, overflowing toilets, low water pressure, and leaky pipes are only a few of the many plumbing issues you might experience. Of course, the best solution to avoid these problems is preventative maintenance. For example, using a sink strainer can help you avoid a clogged drain in your kitchen sink. Regularly checking your pipes, cleaning them, and making sure they’re sealed can help solve problems with leaky pipes.

However, eventually you may experience a plumbing issue that requires extensive fixing. It’s important to resolve this as soon as possible to avoid mold, flooding, and other water damage. Maintaining a repair fund can help make this possible.

Roof Damage

Roof damage is one of the most common repair needs in many homes. Not maintaining your roof has costs that any sensible homeowner would want to avoid. Replacing damaged shingles, cleaning your gutters, fixing flashing, and applying caulk may seem like jobs that aren’t worth the hassle. But ignoring these small issues can cause you to need a full roof replacement, costing thousands of dollars. If you are in need of roof repair or roof replacement in the future, you’ll be glad you saved up a repair fund to ease the financial burden.

Cracked Foundation

Your foundation is a critical component of your home, and one that you should fix immediately if it is ever damaged. Warning signs of a cracking foundation include: 1) cracks in the floor, tiles, foundation, and exterior or interior brick; 2) Uneven floors, 3) wall rotation or separation from the house, 4) displaced or cracked moldings, and 5) doors and windows being unable to close or open properly.

If you are concerned that your foundation may be cracking, it’s a good idea to call a home inspector who can look at your home and assess any possible damage. If the foundation is cracked, repairs will be expensive. However, the cost of repairs is worth your safety, so start a repair fund right away.

Dysfunctional HVAC

The worst thing that can happen during a hot summer is for your air conditioning to give out. Losing your heating in the middle of a freezing winter can be equally devastating. It’s easy to take your HVAC system for granted—most homeowners barely notice it until it develops a problem. If your HVAC system breaks, it will be necessary to repair it or replace it almost immediately. This can be expensive, so maintaining a repair fund is a great way to offset the financial burden repairs would cause.

Maintaining your HVAC system through replacing your air filters each month, using a programmable thermostat, and having your unit inspected twice each year can go a long way to extending its lifespan.


Mold is one of the most dangerous things that can happen to your home. Although it can be unassuming and even harmless at first, there are several deadly varieties of mold that will be cause for immediate repair. In order to keep the cost of mold repair as low as possible, you should do your best to prevent mold from growing and spreading in the first place. Try to eliminate leaks and ensure adequate ventilation throughout your home. Hiring a mold remediation professional can be expensive, but may be necessary in cases of extensive damage.

Broken Windows

Broken windows have a number of consequences for your home. For example, broken windows compromise your safety, skyrocket your utility bill, and cause discomfort due to inadequate temperature regulation. The cost of replacing old or broken windows will vary, but can cost several hundred dollars per window. A repair fund is extremely helpful in cases such as these.


Old, broken, or faulty flooring is another expensive item to repair in your home. For example, many hardwood floors buckle, break, or rot due to water damage. Termites can also damage hardwood or laminate flooring. Tile floors can crack due to pressure or water damage. In short, there are a wide range of problems that will be cause for flooring repair or replacement.

It’s possible to save money by replacing some flooring on your own, but in some cases, it will be necessary to hire a professional. In cases such as these, you will be grateful for a repair fund.

Natural Disasters

In rare and extreme cases, a natural disaster could cause severe damage to your home. While your homeowner’s insurance can help to alleviate the cost of home repairs in this case, a supplementary repair fund is always a good idea. Since you cannot predict when a natural disaster might happen, it’s a good idea to start preparing now financially so that you have one less thing to worry about should something disastrous happen.

These are only a few of the problems an emergency repair fund can help to cover. While contemplating each of these problems may be unpleasant, it’s important to understand the urgency of preparing now in case of a future emergency. You’ll thank yourself later.

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