5 Most Expensive Home Repairs
Owning a home costs more than just a monthly mortgage payment. Home repairs, renovations, and improvements may take up a large amount of your budget, but they are very important and can even increase the value of your home. According to the statistics, the average homeowner spends about $7,000 a year on home repairs. Some repairs are more expensive than others, and here is a list of the five most expensive home repairs that you should be ready for.
1. Foundation Damage
The foundation is one of the main elements of your home, and it supports the weight of the entire structure. Therefore, if there is any problem with the home foundation, it needs to be addressed immediately. However, fixing a foundation problem can bust a homeowner’s budget. On average, it may cost between $1,841 and $6,599 to get a foundation fixed. For this reason, it is always cheaper to prevent foundation issues. Prevention includes keeping water away from the house, which can be achieved by creating a slope to drain water away.
2. Roof Replacement
This is another type of repair that can break the bank. The amount it costs to replace the roof depends on several factors, including the size of the roof and the materials you use. On average, roof replacement costs between $2,000 and $10,000, which does not include the cost of removing the old materials. In order to prevent roof issues, there are certain things you should do. The first and main one is looking over the roof regularly and watching for certain signs of trouble, including loose gutters, damaged flashing, and missing shingles. You can also hire a professional, who will do a complete check of the roof.
3. Removing Mold
Mold damage is one of the home issues that you cannot put off until later. If it is left unaddressed, it can result in significant damage and serious health issues for inhabitants. Signs of mold include discoloration of the walls and ceilings and a musty smell. Mold is especially dangerous for people with allergies and can cause serious respiratory issues. Therefore, if you notice the signs of mold, it is better not to wait and treat it immediately. You should be prepared, though, since mold remediation is expensive and costs an average of $2,229.
4. Plumbing Issues
Plumbing problems are very common because pipes inside a home can crack due to wear and tear and burst in winter. Solving plumbing issues often involves labor costs, making this type of repair very expensive. Many homeowners keep ignoring these problems, which can cause serious water damage in the future. Professionals recommend not ignoring plumbing issues and fixing them as soon as possible. The most common signs of plumbing issues include leaks, knocking noises, rusty water, and discolored or flaking exposed piping.
5. Electrical Problems
It may be hard to identify electrical issues because they are hidden within the walls. Electrical replacements may cost up to $3,000. Since electrical issues can be dangerous, it is recommended that you hire a professional electrician to do annual checkups of your wiring. Here are the signs indicating that you may have serious electrical issues that should not be ignored: hot outlets, flickering lights, aluminum wiring, burning smells, and loose outlets.
Sell Your Home to Cash for Vegas Homes to Save Money on Home Repairs
If you are thinking of selling your property in Las Vegas but do not want to spend money on the above-mentioned repairs, the best solution is to sell it to a cash buyer or real estate investment company. Cash for Vegas Homes is a company that purchases all types of properties, regardless of their age, condition, or required repairs. We buy homes as-is, meaning that you do not have to pay for any renovations, repairs, or cleaning. We offer transparency and flexibility in order to make the home-selling process for our clients as stress-free and enjoyable as possible. All you need to do is call us at 702-850-8001 or fill out our contact form online.