The home you want in the area you want needs a little TLC. You think you can manage, but you have no idea how much repairs cost or what EXACTLY is wrong. As an addict of HGTV you know that all it takes is some hard work and some cash. How much cash? Let’s take a look at the real cost of worst-case-scenario home repairs. Remember, regular maintenance can help you avoid costly repairs. Anytime you make a home improvement, be sure to get several bids and references.
#1: Sewer Line Replacement – $20,000
How do you even get to the point where you need to replace the sewer line? Usually tree roots are the most common cause of sewer line failures. Keep this in mind when you are looking at breathtaking views with nature all around you: The more trees on your property, the greater your chances of having an expensive sewer line repair in your future.
Greatest at risk are houses that are 40+ years old. Depending on the builder, a new home can be connected to old sewer lines.
Worst case scenario? The fix will impact your landscaping, may require digging up a driveway or garage, and cost up to $20,000.
#2: Leaky Roof – $11,000
Saying that the average roof replacement is $11,000 is a challenge. Yes, that’s the average according to industry data, but it all depends on the size, pitch, and type of roofing material used, and the area where you live. Realistically, the range is $5,000-$25,000.
More expensive roofs are made from wood, metal, tile, or slate. Most people, use asphalt shingle. The technology has improved a lot over the years and many companies offer lifetime warrantees.
#3: Rotted Deck – $9,000
The problem with rot is that sometimes you really cannot see it. That includes the deck. Part of the problem is that with everyone’s busy schedule, it can be easy to forget about the desk. moisture will always find a way into improperly sealed wood, causing invisible damage.
The bad news is that a rebuilt deck will cost between $7,000-$10,000, and a completely new deck built of composite materials can triple your cost to $30,000 or more.
#4: Dead Furnace – $8,000
Great news! The average furnace will run for up to 20 years! The bad news is that eventually it will need to be replaced. The total cost depends on the type of furnace chosen and the amount of duct work that needs to be completed.
Homeowners will be looking at $2,500 - $14,000. Keep in mind that prices are often higher in the winter when there is more demand and necessity. Often companies will give discounts to existing customers over the summer.
#5: A/C Blowing Hot Air – $5,000
Do you already have central air? Then the repairs will cost around the $5,000 mark to replace a non-working air-conditioner unit. If you’ve never had central air and don’t want another season of window units, you can see a bill of $14,000-$20,000 depending on the age of your house and how the duct work has to be run. You are looking at new duct work, a concrete pad or metal bracket mount, and new wiring and breakers.
#6: Water Heater Leaking – $2,000
We saved the best for last. A leaky water heater may be first on a list of homeowner fears, it’s actually the least-catastrophic home repair on the list. Installation will run from $700 to $2,000, depending on the type of unit and the difficulty of installation.
Unfortunately, you will also have to pay for the cost of clean-up from water damage caused by a bad water heater.
Another important point is that every new home purchase should have a certified engineer do an inspection. It’s the best way to know what you are getting into and potential have the burden of cost put on the seller.