Preparing for Winter: Getting a Loan for Home Repairs
Preparing your home for the chilly winter months improves the value of your property and guarantees a warm, dry and comfortable living space. It can also mean you avoid more costly home repairs further down the line, as a result of leaving problems unattended.
Pawning a vehicle – in other words, using a vehicle you own as security for an asset-based loan – may help you fund necessary home repairs.
For example, you might need a loan for roof repairs, insulation, damp proofing or other general repairs to the exterior of your home.
Loan for roof repairs
Roofs should be inspected at least every five years – but if you live in a high rainfall area, an annual inspection can save time, money and inconvenience. Check that there are no cracked or broken cement or slate tiles, or that the malthoid that forms the base of a slate roof is not torn.
If you do have to replace the malthoid on the roof, expect to pay between R50 000 and R60 000 for a medium sized house. Structural problems will cost you a lot more – a full roof replacement might cost between R130 000 and R190 000.
With Pawn My Car, you can use a vehicle to secure a loan quickly and easily with no lengthy application process.
Loan for insulating your home
A properly insulated home is warm in the winter and cool in the summer. It also saves money – high-quality ceiling insulation can shave up to 40% off your electricity consumption.
If your insulating material has seen better days, consider replacing it before the winter weather really bites. You can expect to pay around R14 300 or R14 693 to have Aerolite or Isotherm ceiling insulating material installed in a medium sized home.
You can also reduce your monthly costs by fitting a thermal or insulating blanket to your geyser. A blanket costs around R320. If you pay someone else to fit it for you, add a further R500 for the installation fee.
An vehicle loan may help you cover insulation costs.
Loan for repairs to guttering and downpipes
Gutters and downpipes help keep rain water away from the exterior walls. Blocked or misaligned gutters can result in serious damp problems.
We recommend clearing gutters of leaves and dirt before the rains start. It’s also a good time to replace any leaking or broken bits, and to check that the downpipes are fastened securely to the wall.
While you’re at it, consider replacing old aluminium or high-maintenance metal guttering with UPVC guttering. For an average house with around 76 metres of guttering, you can expect to pay approximately R9 500 for the job.
Loan for repairs to windows and doors
To reduce draughts, you might use an asset-based loan to replace cracked or broken glass panes, insulate the windows with a bit of putty and install weatherboards on all exterior doors.
Alternatively, you can replace worn and outdated windows and doors with high-quality double-glazed UPVC alternatives. Although you’ll be charged more than R10 000 for a single door, R14 800 for a double door and between R3 500 and R6 000 per window, this can almost eliminate the need for future maintenance or repairs.
Loan for repairs to exterior walls
The best way to weatherproof your home is to paint the exterior every two to three years. As well as adding aesthetic value, this helps prevent damp.
You’ll have to work on a budget of about R75 000 to paint and waterproof a standard four-bedroom home, so a loan may be required.
How to pay for winter repairs: one option
One way to raise the funds for necessary home repairs is to use your car or another fully paid up vehicle to get a loan.
This is a way to unlock the value of your vehicle, without selling it.
With Pawn My Car, you can use a car that’s in your name to get a loan for home repairs quickly and easily, with no delays. For more information, contact us on 086 172 9648 or simply complete and submit our online application form.
