Home ownership is something that most people seek to achieve, but many don’t consider the costly repair bills that come with their new (or old) home. From your foundation to the AC unit, repair costs can surpass the cost of a new car. Below are four of the most costly issues you’ll face when owning or updating a home.
Foundation damage is one of the most expensive and problematic issues you can have with a home. From cracked walls to plumbing issues, cracked foundations can take a toll on the health of your property, and cost tens of thousands of dollars to repair. Basic foundation fixes start around $10,000 and can go up to $50,000 or more depending on the size and location of the damage. Foundations are typically repaired by tunneling under the slab and placing beams to level the home. Signs of a cracked, shifted or damaged foundation are cracks in your ceilings/walls, door frames out of place, and floors that aren’t level. You may even see leaking water if the slab has created a plumbing issue. If you’re concerned about your foundation, some companies will come out and test your foundation for free or a nominal fee.
You’ve probably heard the term HVAC but might not know exactly what it stands for. Your HVAC is heating, ventilation, and air conditioning — or even simpler, the system that keeps your home cool or warm. Having a properly working HVAC system in Texas is crucial, especially during the hot summer months. If you need to replace your HVAC system, it won’t be cheap. Average repair costs range from $6,000-$12,000 for a 1,000 square foot home according to Modernize. The price for your unit will be varying as well, and it all depends on the size and layout of your home. Two story homes have a unit for each floor to ensure proper cooling and heating on each level, so replacing two units means double the costs. To keep your HVAC system in good working condition, make sure to keep up with routine maintenance on an annual basis. This will make sure that large repairs won’t surprise you when you need the system the most.
Your home’s roof is one of the most important pieces of the structure. It shields your home from the rain and sun and spans the entirety of your home’s floorplan. To maintain a healthy roof, you want to make sure and inspect the roof at least once or twice annually. More if high winds or hail are prevalent in your area, as these can damage the shingles and cause roof leaks, which can create mold and sheetrock issues. According to RoofingCalc.com, the average price range for a home with 1,700 square feet of roof is between $6,000 and $9,350.
Properly functioning plumbing is an integral part of any home. From taking a shower to sewer usage, your pipes need to flow in the right direction and never have spots that back up. One big cause of broken pipes is tree roots that grow and damage the pipes as they run through your yard. Make sure you understand the plumbing layout of your property from home to street, as you’re responsible for the health of your plumbing until it gets to the city easement. Another thing to consider is the age of your home. Most older homes have galvanized or lead pipes, which can easily corrode and cause high repair bills to fix and update the pipes throughout your property. Typical repair costs for outdoor plumbing can start at $1,000 and go up depending on pipe location and the amount of damage. If any plumbing underneath the slab needs to be fixed, expect a hefty bill, as your plumber will either need to tunnel under the home or cut a hole in your foundation to access the faulty pipes.