How Do I Save For Home Repairs? (PRO Tips)

I’ve always found home repairs to be one of the most stressful aspects of owning a house. You can’t avoid them, but it feels like they have the potential to ruin your life if you don’t prepare for them in advance. 

As someone who’s been through this many times myself, I’ve learned how important it is to plan ahead. 

When it comes time to do some serious home improvement projects, you’ll want to start saving as soon as possible so that you don’t have any unexpected expenses or delays on your project. 

Here are some ways that you can save money so that when it’s time for a renovation or repair job, you’re ready:

Need More Help With Your Home Repairs?
Home repairs are inevitable and can be costly.
Planning ahead and saving money can help alleviate the financial burden of home repairs.
Identifying minor repairs and tackling them yourself can save you money in the long run.
There are a variety of options available for financing major home repairs.
Researching and comparing service providers can help you save money on home maintenance costs.

Reduce Your Mortgage Payment

If you own your home, the first step to saving for repairs is to reduce your monthly mortgage payment. For a 30-year fixed-rate loan, for example, reducing the interest rate by 1% can save thousands of dollars over time. 

If you’re not sure if refinancing is right for you, check out our guide on how to refinance your home.

You can also use strategies like making extra payments and paying off debt faster with a home equity line of credit (HELOC). 

As long as you keep up with both paying down the principal and keeping up with any interest payments due, this type of loan can help make sure that money stays in the bank rather than being spent on high-interest debt such as credit cards or payday loans..

One way to save money on home repairs is by taking advantage of free services offered by local government or non-profit organizations. Learn more about the types of free home repairs and who qualifies for them in our article on how to get free home repairs.

Request A Credit Limit Increase

One of the most effective ways to save money on your home repairs is by asking for a credit limit increase. 

This can be done at any time, even if you’re not planning on using the extra funds right away. A higher credit limit means that you’ll have more money available in case there’s an emergency (like a burst pipe).

If this sounds like something worth doing, here’s how:

Call your bank and talk to their customer service representative about increasing your line of credit. They should make this easy for you—just tell them that it’s important and ask them what needs to be done.

Once approved, use the extra cash responsibly! Don’t take out any more loans or lines of credit than what you already have (ideally none), but do put whatever amount is approved toward paying off bills with high interest rates first. 

It won’t make sense financially otherwise; paying off different debts costs different amounts per month depending on interest rates and minimum payment requirements, so it makes sense up front too!

Table: Pros and Cons of Requesting a Credit Limit Increase

Can allow you to finance larger repairs upfrontIncreased credit can lead to overspending
May be easier and quicker than applying for a new loanCan negatively impact your credit score
May offer more favorable interest rates than some other financing optionsRequires self-discipline to make payments and manage debt
Can help you build credit historyCreditors may deny your request if they deem you a high-risk borrower

Note: Requesting a credit limit increase can be a helpful option for financing home repairs, but it is important to consider both the advantages and disadvantages before making a decision.

Take Advantage Of Cash Back

There are a lot of cash back websites out there that can help you save money on purchases, but it’s important to know what makes for a good deal before signing up for one. 

First off, make sure you’re getting the most bang for your buck: The higher the rebate percentage, the better! 

Also look into what kind of offers they have and how often they change their deals. If they don’t have many offerings or if they update their promotions very infrequently, then it might not be worth signing up with them at all.

Lastly and most importantly make sure that they actually deliver on their promises! Don’t sign up with any company unless you’ve done at least some research into whether or not they are trustworthy and reliable in following through on their word

Landscaping can really improve the look and value of your home, and installing borders around your flower beds is an affordable way to take your landscaping to the next level. Our article on how to install landscaping borders provides helpful tips and step-by-step instructions for a DIY project.

Get Paid To Pay Your Bills

Don’t take money for granted. There are tons of ways to make your dollar stretch further. For example, if you have a credit card that offers cash back or rewards points, use it! You’ll get paid to use your credit card!

If you’re someone who goes to the grocery store frequently and don’t live in a city where public transportation is reliable (like Los Angeles), consider getting your own gas-rewards credit card.

Cashback and other reward cards are great too because they give you instant rewards without having to wait until the end of the year—and sometimes even earlier than that depending on how quickly you can reach certain spending goals.

Table: Pros and Cons of Using a Credit Card to Earn Rewards Points

Earn cash back, travel miles, or other rewards for purchases you’re already makingMay be temptation to overspend in order to earn more rewards
Can help you save money on everyday expenses and major purchasesMay come with high interest rates and fees
Offers convenience when paying bills or making purchases onlineCan negatively impact your credit score if you miss payments or use up a large portion of your credit limit
Many credit cards offer sign-up bonuses, which can give you a head start on earning rewardsSome rewards programs come with restrictions and limitations

Note: Using a credit card to earn rewards points can be a wise financial strategy, but it is important to weigh the benefits against the potential drawbacks. Be sure to pay off your balance in full each month to avoid interest charges and late fees.

Sell Your Unwanted Items

If you want to get your hands on cash quickly, selling your unwanted items online is the way to go. You can list them on Craigslist, Facebook Marketplace or eBay. 

If you’re not sure how much the item is worth and whether it’s worth selling at all, try putting an ad out on a site like OfferUp (which has more than 50 million users).

You can also sell your unwanted items at a yard sale for quick cash—or even host one yourself! It’s easy: just put up signs saying “Yard Sale” in front of your house and tell everyone who lives nearby that they’re invited.

Home repairs can be expensive, but there are several ways to finance them. From home equity loans to government programs, check out our article on how people pay for major home repairs to learn more about the different options available.

Ask For Money Instead Of Gifts

If you’re looking to save more money, try asking for cash instead of gifts. This is a great option if you’re trying to clear out some clutter and make room in your home for something new or different.

Obviously you don’t want to ask someone who wouldn’t be able to afford the same amount as your other loved ones, so just be sure not to ask them first! 

It’s best if you check with the person or people first who will be giving you money and see how much they can afford before deciding on an amount that would work well for everyone involved. 

When it comes time for them (or whoever) to give their gift(s), simply let them know that while they’ve always been great at giving gifts throughout the years, this year would be better suited by receiving cash/money instead!

Take On A Side Hustle Job

If you don’t think you can cut back on your spending and still make ends meet, then it’s time to look into finding a part-time job. 

A side hustle is a small, secondary source of income that provides more money in your pocket each month. Even if the extra cash isn’t enough to cover all of your expenses on its own, it should help alleviate some of your financial strain without affecting the rest of your life too much.

There are many different types of side hustles available today: from selling items online or through Craigslist (which is technically considered “selling” them) to working as an Uber driver or delivering food via DoorDash or Postmates. 

No matter what type works best for you personally, it will be worth doing if it brings in some much-needed income without taking away any other time commitments from other sources like work or school (though these possibilities exist as well).

Some home repairs are minor and easy enough to fix yourself with a little guidance. Learn about the most common types of minor repairs and how to DIY them in our article on minor home repairs explained.

Host A Garage Sale

Get your house ready. Make sure you have a garage sale sign up sheet, donation box and a large table to display all the goodies that people are willing to buy.

Have a Facebook event created so you can invite friends and family who may not be able to attend on Saturday morning. Encourage them to share with anyone they think might be interested in attending the garage sale.

Create an advertisement for Craigslist and Nextdoor (if available where you live). You can also try posting an ad on social media sites like Twitter or Facebook if people there know about your sale.

Host an event! Offer free snacks and drinks so everyone has fun while shopping through all the items that you’ve collected over time at home maintenance projects around your property or perishable foods from pantry cabinets (or both!)

Use Cash Back Rewards From Savings Account

A cash back rewards program is one of the best ways to save money. The concept is simple: you put money into your account and earn a percentage of that amount in cash back every month. 

For example, if you deposit $1,000 into your savings account, at the end of the year you’ll have earned around $60 in interest and if there’s no interest on your account, then all the better! You can use this extra cash for whatever you want—home repairs or even just saving for retirement.

One thing to know about these accounts is that some banks will charge monthly maintenance fees if their balances fall below a certain amount each month. Be sure to research how much maintenance fees are before signing up with any specific bank.

Another potential downside of using these types of accounts is that they do not allow users to withdraw their funds without penalty until they reach maturity (usually 1-2 years).

Plumbing problems can be a headache, but they don’t always require a pricey visit from a professional. In our pro guide to fixing plumbing problems, we offer step-by-step instructions and helpful tips for tackling common plumbing issues on your own.

Earn More Interest On Your Savings

If you’re saving for home repairs, a great way to make your money work harder for you is by earning more interest on it. This means it will have more purchasing power when the time comes to pay for repairs.

Because interest rates are low at the moment, it’s important to shop around before choosing an account. Many banks offer lower rates for new customers and some credit unions and online banks are also worth looking into. 

One thing to keep in mind if you decide to use an online bank: some don’t have branches where you can speak with someone face-to-face about questions or concerns about your account.

If higher interest rates aren’t important to you, another option is using credit cards rather than savings accounts because they often provide better rewards programs that can help offset expenses associated with home repairs (and sometimes even provide cash back).

Get Paid To Shop Online

So you want to get paid to shop online? Great! The most common way is by completing surveys. You’ll make anywhere from $5-$50 per survey, depending on the length and complexity.

Surveys are also available through Amazon’s Mechanical Turk service (mTurk). They’re a bit more difficult to find, but they pay better: up to $100 or even more for some.

You can also try making money by becoming an affiliate marketer—this means promoting other people’s products online, earning commissions when your referrals purchase something through your link. 

If you feel comfortable doing this type of work, it could be an excellent way to earn extra cash in your downtime without having a full-time job or freelancing on another platform like Upwork or Fiverr.”

Trade In Electronics And Gift Cards For Cash

If you’re like me, you may have a drawer or box of old electronics that’s been sitting around for years. Old phones, broken remotes and other pieces of tech can be a pain to deal with—but they’re also worth some serious cash! 

Sites like Gazelle will pay between $50 and $200 for your old phone depending on its condition and make/model. 

And if you’ve got gift cards laying around from your last trip to the Apple store or Best Buy (which is likely), sites like Cardpool will buy them from you at face value or get back more than 90% of their original value in cash.

In addition to selling things off to bring some extra money into the home repairs fund, consider using this money toward paying off any debt that doesn’t have interest rates below 5%. If nothing else, it’ll help reduce stress while still bringing in extra funds each month!


Now that you know how to save for home repairs, it’s time to get started. Follow the tips on this list and feel free to change them up based on your personal preferences. You may find that some of these methods work better than others so try not to become discouraged when something doesn’t work out exactly like you thought it would!

Further Reading

Here are some additional resources for tips on saving money for home maintenance and repairs:

Ways to save money on home maintenance: This Bankrate article offers several practical tips for saving money on home maintenance costs, such as performing routine tasks yourself and shopping around for service providers.

How much to budget for home maintenance: This Business Insider article provides a general guideline for how much to budget for home maintenance depending on the age and condition of your home.

How much you should save for home repairs: This article offers a comprehensive guide to estimating how much you should save for home repairs based on a variety of factors, such as the age of your home and the condition of its systems.


What is considered a home repair?

A home repair refers to any fix or replacement that is necessary to keep your home functioning properly or to prevent further damage or safety hazards. This can include anything from replacing a broken window to fixing a leaky roof.

How much should I save for home repairs?

The general recommendation is to save about 1% of the purchase price of your home per year for home repairs. However, the amount you should save may vary based on factors like the age and condition of your home, as well as your own preferences and financial situation.

What are some common minor home repairs?

Some common minor home repairs include fixing leaky faucets and toilets, patching holes in drywall, replacing light fixtures and outlet covers, and unclogging drains.

What options do I have for financing major home repairs?

There are several options for financing major home repairs, including home equity loans, personal loans, government programs, and credit cards. Each option comes with its own pros and cons, so it’s important to research and compare your options before making a decision.

How can I save money on home maintenance?

You can save money on home maintenance by performing routine tasks yourself, shopping around for service providers, and investing in preventative measures like regular HVAC maintenance and landscaping upkeep.