Expensive Home Repairs You Need to Be Aware of

1. Foundation damage

The average cost for foundation repairs is $1,841 to $6,599. That’s a pretty wide gap, so the amount you might pay will depend on the extent of the damage at hand. Unfortunately, a cracked foundation could compromise the structure of your entire home, so it’s not a repair you can put off.

2. Roof replacement

The amount it costs to replace a roof will depend on its size and the materials used. Replacing a roof constructed of asphalt shingles costs between $2,000 and $10,000, with an average of $7,114. The upside? Those shingles tend to last 15 to 30 years, so ideally, it’s not the sort of repair you’ll have to deal with too often.

3. Mold remediation

Mold damage doesn’t happen overnight, but if left unaddressed, it can result in huge health problems for the inhabitants of your home. And as a landlord, it’s your obligation to remediate mold that could be impacting your tenants’ health. Mold remediation costs an average of $2,229, but in reality, the extent of your damage and the size of your home will play a large role in determining what it costs you.

4. Central air replacement

Central air conditioning is a much-desired home feature. The problem, however, is that when your system goes, the entire property suffers. The price to install a new central air system typically falls between $3,758 and $7,263, but the capacity and efficiency of your system will dictate how much you spend, as will the complexity of the ductwork in your home.

5. Grading and ponding issues

If large amounts of water tend to pool in your yard or driveway every time it rains, it could be that you have a grading issue on your hands that needs to be resolved. The average cost of resloping or regrading a lawn costs between $974 and $2,950, but if you’re dealing with a larger property and a more extensive slope, your costs could easily be five times that amount. And if retaining walls become necessary, your costs could be 10 times that estimate.

6. Septic system replacement

If your property doesn’t run on a public sewer line, you’ll be reliant on a septic system — a system with the potential to break down over time. Replacing a septic system costs between $3,100 and $9,392, on average, but again, much of that will depend on the capacity of the system at play.

7. Water line replacement

If you’re on a public water system, tree roots and wear and tear can result in breaks in your water line or backups that leave you with one unsanitary mess on your hands. Replacing a water line that runs from the street into your home could cost as much as $2,468, but that number doesn’t include the cost of dealing with the damage to your home that often results when a water line fails.

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