Are you in the process of buying a home? Are you trying to determine how much work you want to put into a house? As a first-time homeowner, it can be hard to estimate your new house’s cost, especially if there are repairs that need to be done. If you’re buying a house and there is work to be done, we recommend that you account for this in your budget.
Today, we want to talk about some of the most expensive home repairs out there. Not to scare you, but to prepare you. By understanding some of the more expensive home repairs you could encounter, you have a better chance of preparing for your family’s future in your new home. We hope that this list helps you plan and make the best decision in the home buying process.
Owning a home comes with a myriad of responsibilities. In addition to doing everyday chores, paying the utilities and mortgage monthly, regular maintenance is also a must. No matter how well you maintain your home, its major structures and system will eventually wear out, necessitating major repairs or replacement.
Major repairs and replacements are essential to the integrity of your home. Although you may only have to do these once or twice at the most, here are expensive home repairs that you can expect to become part of your home repair budget.
Looking for the best home repairs services? Look no further! Hitch Property Constructions has you covered.
Did you know?
According to Archicentre, an estimated 80 per cent of Australian property transactions occur without the purchaser inspecting structural or termite problems.
Buying a property is a complex exercise, and if people purchase a property that has major faults, it can lead to a major personal and financial crisis. To limit the risk of financial stress in purchasing a home prior to making an offer, arrange a pre-purchase property inspection from an independent, professional and trained person such as a structural engineer or an architect to ensure the house is safe and sound.
Homebuyers need to be methodical and realistic when purchasing a home, as there is little room for making a mistake without serious consequences. A professional inspection of the home will help buyers determine the condition of the property and the cost of repairs to provide them with a bargaining tool and enable them to factor in repair or maintenance costs into their budgets. Health and safety risks exist in about one-quarter of older Australian homes, and potentially expensive hidden defects exist in about one in three properties.
Here’s Realty Times’ rundown of the Topmost expensive home repairs:
- Full Home Rewiring: $4,000 plus.
- New HVAC Units: $2,500 to start.
- Complete Roof Replacement: $5,000 plus.
- Major Foundation Repairs: $10,000-$30,000.
- Plumbing: $2,000 for serious issues.
The best way to stay ahead of potential home repair disaster and saving thousands of Ben Franklins? Stay on top of your home’s maintenance needs.
Homeowners should have a ready checklist of maintenance and routine inspections for their home’s systems and components so they can catch potential problems before they snowball into major repair migraines.
Here’s an essential regular home maintenance checklist every American homeowner should perform:
- Sewer Pipes: Roots from trees living close to your home can clog sewer pipes and cause sewage to back up into your home. Be sure to have a professional sewer and drain company clear your home’s line at least once a year.
- Water heater: Indications of corrosion or leaks mean trouble. Flushing your water heater helps rid it of mineral deposits that can hasten corrosion. Check the pressure release valve yearly to prevent an explosion.
- Wiring: Look for cracks, breaks, tears and anything that looks like a fire hazard. Check outlets and fixtures for anything that might be loose and cause electrocution. Call in an electrician for any needed repairs and adjustments: Wiring is something you don’t want to DYK.
- HVAC: Change air filters every 30 to 90 days to take the strain off your HVAC system and extend its life. Annual maintenance checks by a professional technician for the air conditioning in the spring and the furnace in the fall will allow your home to avoid breakdowns during the hottest and coldest times of the year.
- Roofing: Remember, some of the most pricy and imperative home repair issues come from above and your home’s first line of defence. Undiscovered and unattended to leaks can lead to water damage and rot. Check areas of penetration such as skylights, flashing and vents. Unclog gutters and ensure that downspouts direct water away from the foundation.
- Termites: Forget water, wind and fire, termites pose the greatest threat to your home’s wood structures. Look for signs of their wood-terminating presence and call in a termite control professional and repair any structural damage.
- Wet Basements: The potential disasters are multi-fold: Improper grading, downspouts dumping water too close to the foundation, a concrete patio or driveway angled downward toward the foundation and butting against it. All these issues can cause water seepage and eventually, structural damage. Eliminate basement leaks with waterproofing.
- Foundation Damage: Remember, an average $10,000-plus repair bill awaits homeowners dealing with major foundation issues. Inspect the basement, crawlspaces and foundation for signs of water penetration and foundation movements such as drywall cracks, door frames out of square and uneven floors.
- Mould Remediation: Mold growth larger than 10 square feet requires professional remediation due to its serious health hazards. Look for the telling signs of mould: Water stains, water damage and areas of obvious excessive moisture. To prevent mould from growing, eliminate the source of the moisture, fix leaks and properly ventilate any damp areas.
- Staying a step ahead of home damage threats can keep you ten steps ahead of pricy home repairs.
The most expensive home repairs and how to avoid them
Opinions on which is the most expensive repair item in a home might vary from year to year or from one pro or contractor to another. Still, almost everyone — homeowners included — can agree that there are certain budget-busting items you want to do your best to avoid having to fix or replace. Beyond the cost factor, they also bring on headaches and inconvenience. The things that are the most expensive to repair or replace usually cause the most aggravation and inconvenience, too. Whether it’s the dust, dirt and number of days you’re dealing with contractors and repairmen, or not being able to use the item (Do HVAC units only go out in the worst heat of the summer, or the bitterly cold days of winter?), it generally stinks. Here are some of the most common items that homeowners have to dig deep into their pockets for…
Central Air Conditioning/Heat Pump ($500 to $10,250 | 12 – 18 Years)
Indoor comfort, especially in extreme climates, is a necessity for many people. Properly maintaining your cooling system through annual servicing costs around $100 per unit, and will help head off major repairs and alert you to when the unit is near the end of its useful life.
Eventually, major components such as the evaporator coil or compressor will wear out. As repairs begin to mount, it becomes more cost-effective to replace your system. The cost of an air conditioner or heat pump depends on the size of your home, among other factors. Replacing your unit with a new one will result in energy savings due to higher efficiency. Learn more about all HVAC repair and replacement costs sorted by the project.
Furnace or Heating System ($250 to $9,000 | 13 – 20 Years)
Just like your central air conditioning, your heating system also needs annual preventive maintenance to keep it operating well. A well-maintained gas furnace has an average life of 13 to 20 years before parts start to crack, corrode, and become dangerous.
Most HVAC professionals recommend that you replace the furnace and air conditioner at the same time to ensure that the entire HVAC system is properly matched to work with all other components. Consider installing a heat pump which will take care of both heating and cooling if you live in an area with mild winters, where the temperature rarely goes below freezing.
Roof ($150 to $14,000 | 15 – 50 Years)
Maintaining your roof is one of the most important home repair projects as the top of your house is the first line of defence against the elements. Fixing minor leaks around loose flashing or vent pipes following storms are minor repairs, but you won’t always get that lucky. The cost can get more expensive with the roof’s age, due to several layers of shingles needing to be removed, or worse, damage to the underlayment beneath the shingles. This wide variation is due to the size of the roof, the materials used and whether the new roof is simply a tear-off job or one that involves extensive repair.
The average life of asphalt roofing shingles is, at a minimum 15 years, although some manufacturers offer warranties of up to 30 years. Costs can be as much as $25,000 or more if you decide to install metal roofing to your home, but the life expectancy can stretch as long as 50 years.
Check out our Melbourne home repairs to help you to build your dream house.
Windows and Doors ($300 to $15,000 | 25 – 40 Years)
Replacing doors and windows is another one of those expensive home repairs that you’ll probably only have to do once in your lifetime unless you live in multiple houses, or plan to complete a full home remodel at some point. The seals on windows, as well as the weather stripping, will eventually wear out. While you can repair these faults, eventually the structure will wear out and necessitate a full replacement.
Signs that you need a replacement include drafts, especially during windy or cold weather, difficulty opening or closing windows and condensation between double panes. The wide range in prices is tied to the number of windows and doors that require replacement, as well as the many efficiencies and security options available on new doors and windows today.
Exterior Painting ($650 to $6,000 | 8 – 15 Years)
How often you need to paint your home’s exterior depends on variables such as where you live, the painting surface and the quality of the paint used. For example, applying high-quality paint can extend the life of your paint job to 15 years or more. The climate in your area, your home’s direction as it faces the sun, and many other factors will determine how long exterior paint lasts on your home.
Your exterior needs paint when you see extensive chipping, peeling or fading. Exterior house painting costs increase with the square footage of your home and home many levels you have. The amount of prep work and how well you’ve maintained the exterior paint will also impact the repainting cost.
Repairing Pipes or Installing New Plumbing ($560 to $2,500 | 15 – 40 Years)
Older homes with copper pipes are prone to plumbing problems, as are older cast iron sewer lines can become clogged with tree roots or collapse due to shifts in the surrounding soil. Pipes inside the home can burst in winter or crack due to wear and tear. These are just a few of the major plumbing repairs you may run into while owning a home.
Repair and replacement of water pipes and sewer lines are expensive due to the hidden nature and labour involved in discovering the problem and can wreak havoc with your home repair budget. Watch for leaks and listen for knocking noises, which are both very indicative of plumbing problems.
Driveway Repairs ($300 to $4,500 | 15 – 30 Years)
Driveway repairs can be complicated, depending on the type of surface you have and what is wrong with it. Asphalt driveways should be sealed every 2-4 years, prevent cracks that allow water to get underneath, and cause heaves to result in further damage. Concrete driveways need just as much as care but tend to last a bit longer due to the nature of the material.
Many homeowners can handle minor patching and resurfacing on their own, but if the driveway needs to be replaced, it’s best to call in professionals, especially a concrete driveway. Your driveway is a major part of your home’s curb appeal. Thus it’s one of those necessary home repair projects because it’s the first thing visitors see.
Wooden Deck Replacement ($250 to $5,000 | 10 – 20 Years)
If you judiciously take care of your wooden deck through a periodic cleaning, staining and sealing, you’ll extend its life and save money at the same time. However, at some point, you’re bound to replace a board or three or four due to mould, rotting or termites.
When multiple sections are involved, opt for a total replacement, instead of replacing small portions every few years. In many cases, the joists below may still be in good condition, and you can replace the decking itself with pressure-treated wood or a composite wood decking versus the entire structure. Keep in mind, and it may be more expensive, though if you’re hiring someone to do the job.
Termite Treatment ($1,300 to $1,500 | Anytime)
Termite damage is one of the most invasive insects a homeowner will face. Not only do they live within the walls and foundation, but they eat every bit of wood they come in contact with, from the inside out. In many cases, by the time you realize you have a termite problem, they’ve already done thousands of dollars in damage to your home.
Speaking of termites, if you live in an area where these buggers are common, you’re risking an even bigger expense if you don’t protect your home against these wood-eating insects. Once a colony is eradicated, you don’t have to follow any set schedule to make sure that termites don’t return. It is wise, though, to have regular inspections to ward off any small colonies that may eventually return and cost thousands more in damage to your home’s wooden structures.
We have an extensive range of home repairs Melbourne services at Hitch Property Constructions.
Tree Removal ($150 to $1,500 | Anytime)
Tree removal is a task that homeowners rarely think they’ll have to deal with, even though it is fairly common. What’s more, many people think they can do it on their own. Frankly, it’s dangerous to remove trees if you don’t know what you are doing and the cost savings are nullified if you need to buy a chainsaw and try to do it yourself.
Limbs and trunks can fall on you when you’re just trimming a tree, causing serious injury or even death. Trees damaged by storms or killed by disease or insects, such as the Emerald Ash Borer, need removal as soon as possible as they can damage your home while also reducing the value of your property.
No matter which home system or structure, no matter which problem issue it is, the best way to extend the life of the item or to avoid a repair is to take good care of whatever it is. Your home’s health is just like your own health. It requires regular check-ups, preventative maintenance and some good old-fashioned TLC. Bringing an expert in for annual or seasonal inspections — HVAC system, sewer line, roof, termite inspections, etc. — is the best way to assure continued good health or identify a problem early on. The quicker you address the problem, the less costly it is to fix — think proactive, not reactive.