Common Major Repairs Every Homeowner Should Prepare For

It is a part of homeownership: unexpected home repairs. Some of them are simple and inexpensive fixes, like repairing a broken drawer handle or replacing a doorknob. However, some of them, such as replacing the roof or removing mold, are laborious tasks that require the services of a professional and can cause financial strain if you are unprepared.

For this reason, it is important to plan for major home repairs. Even though you do not know when to expect such repairs, you can be prepared for when they happen! Read on for some insight into common home fixes that homeowners may encounter.

Roof Repair

The roof is essential in protecting your home from the elements. If there is a leak or other issue with your roof, it can lead to a host of other serious, expensive problems. Regularly check your roof for any leaks or missing/broken shingles or tiles. It is also a good idea to have a professional inspection done every few years. Expect to pay anywhere from $100 to $1,000 for a roof repair.

Tree Removal

If you have an abundance of large trees around your home, it is important to be mindful of how they could affect your home or property, particularly if a severe storm were to occur. In some cases, it could be better to remove a tree rather than cut it back. Tree removal costs can vary depending on the size of the tree and its location, and you can expect to pay anywhere from $50 to as much as $1,500. Be sure to ask about additional costs, such as stump grinding, to confirm if it is included in the price. 

New Furnace

It is common for furnaces to stop working properly, and it is important to be prepared if it happens to you. Bob Vila recommends that homeowners consider the age of the furnace and whether it is working well. If it is older or not functioning at full capacity, you may be able to get by with a minor repair. However, it is also possible you will need a new furnace.

In most cases, a new furnace can run about $1,000 to $6,000, but the cost will vary depending on what kind of furnace you get. For instance, an electric model can cost $400 to $1,200 while a gas model can range from $850 to $1,800. Labor is another expense to consider, which can add an extra $1,500 to $3,000 to the bill.

New Water Heater

It is easy to see the potential problems with a water heater that goes out—cold showers perhaps being the most obvious one. However, a defective water heater can also cause some very costly issues, such as flooding. Keep an eye on your water heater, have it checked periodically, and set aside $767 to $1,446 for when you need a new one installed.

Water Damage

There are many ways for water damage to occur (e.g., leaks, flooding, storms, etc.), and it can be expensive to fix. Typically, the cost to repair water damage will depend on the type of damage that has occurred. Here are the three main categories of water damage and the average cost of remediation:

• Clean water damage — $3.75 per square foot
• Grey water damage — $4.50 per square foot
• Black water damage — $7 per square foot

According to Allstate Insurance Company, these prices include only the remediation of water damage. You will also need to factor in the cost of repairs to any items or areas of the home (e.g., furniture, drywall, floors, etc.) that need to be restored.

Electrical Rewiring

While some people opt to do their own electrical work, it is not the best idea if you do not have any valuable experience. In short, there is just too much that can go wrong, and the consequences of a simple mistake could result in electrocution, fire, or any other number of problems. If you need electrical work done, especially if it is rewiring, call a professional. Most electricians charge $75 per hour.

You may not be able to predict every major home repair that comes your way, but you can start preparing for the costs now. The repairs on this list are only a few of many that should be considered. Be sure to keep researching so that you can prepare as well as possible for future home repairs that call for the services of a professional!

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