Being a homeowner allows you so much flexibility – you can decorate however you want, move things around, and feel at ease in your own space. The downside? The expense. If there are any problems, they’re down to you to fix, and home repairs can certainly be costly.
On top of your mortgage, bills, and general maintenance costs, you need to be prepared for the unexpected. It is difficult to plan for home repairs as it can be difficult to know when you will be faced with them, or how much they will cost to fix.
Today, we’ll guide you through the top 10 most expensive home repairs, and how you can avoid them.
Top 10 Most Expensive Home Repairs & How to Avoid Them
1. Repairs to the Foundation
Foundation repairs can be particularly expensive since they can be complicated and are crucial for keeping your home standing. The integrity of your home’s foundation can be compromised if the soil underneath is prone to expanding and contracting because of consistent changes in weather conditions.
You may need repairs to the foundation if you find your doors and windows hard to shut, cracks have started appearing around your home, or you find water pooling around the exterior of your house, or in the basement.
Foundation repairs can cost anywhere from $450 to $11,000, but there are things you can do to avoid this costly repair:
- prevent the soil around your home from getting too dry during hot, dry periods
- check for pooling during wet periods – anywhere that is affected can be resolved by forming a slope with the soil to enable the water to drain more efficiently
- get any suspicious cracks or concerns checked out by an expert – you may be able to get a problem taken care of before it can develop into something more costly.
2. Repairs to the Roof
Without a roof, you don’t have a home, so it’s unsurprising that roof repairs are on this list! While the odd displaced shingle won’t derail your financial future to put right, ignoring one might.
The average cost to repair a roof is $650, but it costs around $6,000 for a full roof replacement.
To avoid this costly repair, it is important that you have your roof inspected by a professional 10 years after the initial installation and then every 3 to 5 years. In between times, you can simply check the roof yourself, identifying any possible weak spots or minor repairs that can be easily mended before they can develop into a more serious issue. Make sure you check your roof after severe weather, such as strong winds or excessive snow.
3. Repair or Replacement of a Water Heater
If you find that your water heater appears to be louder than before or has started to make unusual noises, you may find that you need to have it repaired or replaced. Ignoring the issue could lead to flooding, creating a (very) expensive problem.
Repairing a water heater costs $523 on average, or $1,000 – $2,000 to have it replaced.
Check the pressure valve of your water heater regularly and flush the tank out annually to keep up proper maintenance so that it lasts as long as possible. Depending on the quality of your water heater, they usually last 8 – 10 years and then need replacing.
4. Damage from Termites
Something you should never, ever turn a blind eye to is signs of termites. Signs of termites include swarms of flying insects, discarded insect wings, hollowed-out wood, and small mud tunnels in your yard leading up to the exterior walls of your home.
To avoid high costs, it is important to have any sign of termites treated as soon as you suspect a problem. Termite treatment costs an average of about $540 but the damage that may be caused to your home’s structure could cost an eye-watering $7,000 or more to repair.
To avoid infestation of termites you should install termite monitors, keep mulch and wood well away from your property, and have your home inspected annually.
5. Water Damage
Water damage as the result of flooding or a leak can lead to rotting wood, warped floors, rusting metal, and the growth of mold. This type of repair costs an average of $2,330 to fix depending on how long the problem has persisted, and more if your hardwood floors have warped.
To prevent potential water damage as best you can, make sure you regularly clean out your gutters, have water leaks repaired as soon as possible, and check your sump pump annually. If you have aquariums or any other reason why water may spill or overflow in your home without your immediate notice, you can purchase wireless water detection alarms for very little online.
6. Repair or Replacement of Pipes
Plumbing repairs are notoriously expensive, especially when the problem lies within the walls of your home, or underground. The cost of repairs will depend on the type of pipe, for example, a drainpipe will cost around $560 whereas a sewer line will cost an average of $2,443 to repair, and replacing pipes typically costs over $1,000.
To take care of your plumbing system you should aim to avoid using chemical unclogging products, make sure your pipes are properly insulated ready for cold weather, and have your sewage pipes cleaned by a professional every 3 to 4 years.
7. Repair of an HVAC/Heating Unit
Although minor repairs of HVAC units are relatively affordable, at about $400 on average, failing to get them serviced or repaired can be a costly affair. A new HVAC system will set you back $4,500 – $10,000. That’s a lot of money to find just to be comfortable in summer and winter.
If you notice a leak, strange noises, or any other concern, get an expert to look at it as soon as possible.
To keep your HVAC unit working as it should, it is important to have it inspected and maintained by a professional every year and replace the air filters every 3 months.
8. Mold Removal
If you let mold build up due to dampness or humidity, not only can it be unsightly and bad for your health, but it can also become very costly to remove, at an average of $2,155.
To avoid mold build-up, and the costs that go with it, you should ensure to fix leaks as soon as they become apparent, and inspect your home regularly so you can tackle the problem before it becomes worse.
9. Taking Care of Electrical Problems
One of the largest expenses when it comes to home repairs is taking care of electrical problems. Unless you are a professional electrician, it is not safe for you to take on these types of repairs yourself.
If you are experiencing frequent tripped circuit breakers and flickering lights, or your appliances are actually shocking you, you should get a professional in as soon as possible, as your home could be at risk of fire.
Electrical repairs cost an average of $318, but you could face up to $15,000 for rewiring if your electrical system is in a particularly poor state.
To avoid this potential expense you should have a professional inspect your system each year and whenever you suspect a problem.
10. Repair of a Septic System
Allowing your septic system to fall into disrepair can be both a costly and filthy problem. This is definitely a repair you want to prevent, or at least be ready for! A septic system repair typically costs around $1,500 and may be needed if your toilets aren’t flushing, your water is draining slowly, and you find stagnant water building up in your yard. (Yuck!)
To avoid this problem, you must have your septic system inspected by a professional every 3 years and pumped every 4 years or so.
Can’t Afford a Costly Repair?
You can avoid many costly home repairs by making sure that you carry out regular maintenance around your home and spend some money to get the professionals in to ensure everything is working how it should be.
However, if you are faced with a repair that you simply cannot afford and things are getting on top of you, it might be time for you to sell your home as-is. A home buying company like ours will purchase your home in any condition, without an in-depth inspection. We simply give you our best no-obligation offer and should you take it, we can complete the sale in as little as two weeks, so you can get on with your life. If your home has become more of a burden than an asset, click here to tell us about it and we’ll give you a fair cash offer.