Home repairs can be expensive, and when you can’t afford home repairs, you might feel stuck. Ignoring necessary repairs can lower your home’s value, make it unsafe, and even lead to bigger financial problems.
But you have options. You can apply for financial assistance, take out a loan, sell your home without making repairs, or find a way to negotiate with buyers. The right choice depends on your financial situation, the condition of your home, and your long-term plans.
This guide explains what to do when you can’t afford home repairs and helps you decide on the best path forward.
1. Find Home Repair Assistance
If you can’t afford house repairs, you may qualify for financial aid. Several programs help homeowners cover the cost of essential repairs, especially if the home is unsafe or in poor condition.
Government and Non-Profit Assistance
- HUD Home Improvement Grants – The U.S. Department of Housing and Urban Development (HUD) offers repair grants for low-income homeowners. These grants cover essential repairs that affect safety or livability.
- USDA Single Family Housing Repair Loans & Grants – If you live in a rural area, you may qualify for a loan or a grant to fix your home. Grants are available for homeowners over 62 who meet income requirements.
- Weatherization Assistance Program (WAP) – This program helps homeowners make energy-efficient repairs, such as fixing insulation, replacing broken heating systems, and sealing air leaks.
- Local Non-Profit and Charity Assistance – Organizations like Habitat for Humanity and Rebuilding Together offer free home repairs for qualifying homeowners. Some local churches and charities also provide financial help.
If you’re unsure which programs are available in your area, contact your local housing authority or community development office.
2. Get a Loan to Fix Your House Before Selling
If you need to make repairs before selling your home, you might consider a loan. Home repair loans allow you to fix major issues, which can help attract buyers and increase your home’s selling price.
Types of Home Repair Loans
- FHA 203(k) Loan – This government-backed loan lets you borrow money for repairs and roll the costs into your mortgage. It’s a good option if you plan to sell your home after making improvements.
- Home Equity Loan or HELOC – If you have built up equity in your home, you can borrow against it to pay for repairs. This option works best if your home’s value is high enough to secure a loan.
- Personal Loan – A personal loan can be used for small repairs, but it usually has higher interest rates than home equity loans.
- Credit Cards (for Minor Repairs) – If your repairs are small, using a credit card might be an option, but this should be a last resort due to high interest rates.
Before taking out a loan, consider whether the repair costs will significantly increase your home’s value. If the cost of repairs outweighs the added value, it may not be the best choice.
3. Sell Your House Without Making Repairs
If you can’t afford home repairs and don’t want to take on debt, you can sell your house as-is. This means you sell the home in its current condition without making any improvements. Many buyers and investors are willing to purchase homes that need work, especially for the right price.
Benefits of Selling As-Is
- No repair costs – You don’t have to spend money fixing anything.
- Faster sale – Cash buyers and investors can close in as little as a week.
- Less hassle – You avoid dealing with contractors, inspections, and delays.
Who Buys Homes As-Is?
- Cash Home Buyers – These investors buy homes in any condition, often without requiring inspections or appraisals. We are also cash buyers and can buy your house as-is.
- House-Flipping Companies – These companies buy distressed properties, renovate them, and sell them for a profit.
- iBuyers – Some online companies make instant offers on homes, but they may offer lower prices than traditional buyers.
Selling as-is can be a smart choice if your home needs costly repairs that you can’t afford. However, you may need to accept a lower price than if you made the repairs yourself.
4. Negotiate Repairs with the Buyer
If you want to sell your home but can’t afford major repairs, you might be able to negotiate repair terms with a buyer. Some buyers are willing to purchase a home that needs repairs if they get a lower price or certain concessions.
Ways to Sell a Home That Needs Repairs
- Offer a Repair Credit – Instead of fixing the problem yourself, lower the price so the buyer can handle the repairs after closing.
- List the Home As-Is – Be upfront about the home’s condition so buyers know what to expect.
- Find a Handyman Buyer – Some buyers look for homes they can renovate themselves.
If your home has major issues, such as structural damage or roof leaks, buyers may ask for a bigger price reduction. However, if the repairs are minor, you might only need to negotiate a small discount.
5. Rent Out Your Home Instead of Selling
If you can’t afford house repairs but don’t want to sell, renting your home could be a good alternative. Some tenants are willing to accept minor repairs in exchange for a lower rent price.
How to Rent Out a Fixer-Upper
- Check if the home is safe – Make sure there are no major hazards, such as electrical or plumbing problems.
- Set competitive rent – Price the rent lower than comparable homes to attract tenants.
- Find the right tenant – Look for renters who are willing to accept the home’s condition.
This option allows you to keep your home while generating rental income. However, you will still need to make some basic repairs to meet housing standards.
So in conclusion, if you can’t afford home repairs, you still have several options. You can apply for financial aid, take out a loan, sell the house without repairs, or negotiate with a buyer. If selling isn’t right for you, renting out the home could be another option.
The best choice depends on your financial situation and long-term plans. If repairs are too expensive and you need to move, selling as-is to a cash buyer may be the simplest solution. If making repairs will significantly increase your home’s value, taking out a loan might be worth considering.
Whatever you decide, act quickly to prevent further damage and loss of home value. If selling as-is sounds like the right solution, reach out to us for a no-obligation offer today.
