Did you know that 30 percent of homeowners will experience an emergency repair with an average cost of $1,206? Home repairs are not on any homeowner’s wish list but they are part of owning a house.
To avoid repairs, it is crucial for homeowners to perform monthly and annual assessments of their property by performing maintenance, addressing wear and tear, and knowing when to call a service professional.
The most common home repairs are:
Water Heater
The average cost to repair a water heater is $571 and a replacement will cost $750 to $1,300. While the lifespan of a water heater depends on a number of factors, one of the main reasons why a water heater needs a repair is due to the mineral buildup and overuse. If damage is extensive, you’ll need a replacement.
Roof
The average cost to repair a roof is in the ballpark of $650 but to fully replace a roof you’re looking at $10,000. Contained leaks and missing shingles are relatively simple to fix but neglecting these smaller repairs could result in replacing sections—or the entire roof. If your region experiences an intense storm or high wind conditions, it’s important to check your roof in a timely manner; repairs may be covered under your homeowner’s insurance policy but if you wait you’ll be responsible for the entire bill.
Foundation
Like a roof, your home doesn’t exist without a foundation. The average foundation repair cost $5,857. The most common warning signs that indicate an issue are: cracks, settling or upheaval, sagging floors, or sticking doors.
Exterior painting or siding
The average cost to paint a home is $5,170. To repair siding, you’re looking at $718 but the replacement is much steeper at approximately $5,000 – $15,000. Exterior siding should last twenty to forty years. Common issues to look out for are: water stains, cracks, or sagging. When you’re assessing paint you’ll to look for: bubbling, peeling, and mold.
HVAC
The best way to avoid repairs or failing HVAC equipment is to contract a professional to regularly service your unit. Proper maintenance will save you potential expensive repairs later and will provide you with peace of mind. The average HVAC repair is $150 – $450 while a replacement ranges from $4,820 – $9,350.
Leaky Pipes or Toilet
Whether it is a clog, drip or leak these plumbing issues are common. It is important to address leaks and drips as soon as possible to avoid water damage to flooring. Check your faucets, pipes, and toilets on a monthly basis. While you shouldn’t tackle a repair you don’t feel comfortable fixing, most homeowners can DIY these repairs. Make sure you have a plunger and snake available to unclog clogs. And a helpful YouTube video will guide you through changing the toilet flapper that almost always becomes an issue for every homeowner.
Repairs and replacement are inevitable for every homeowner but you can make the most out of your situation by properly taking care of the maintenance.