Major repairs and replacements are essential to the integrity of your home. While you may only need to do them once or twice at most, there are certain expensive home repairs that you should be aware of and budget for. From water damage to HVAC systems, here are 7 of the most expensive home repairs and how you can avoid them as much as possible.
1.Water DamageWater damage is one of the biggest problems for homeowners because it can be so extensive. Water can damage anything from ceilings to walls and floors, and even humidity can create a world of problems in a home.
It's imperative to find and seal any water leaks as soon as possible to avoid having to repair broken pipes, roof leaks, clogged gutters, and more. The ideal time period to begin restoration for water damage is 24 to 48 hours. Another problem with water damage is that it can cause mold, which we'll mention later.
2.Roof ReplacementReplacing a roof is something you simply cannot avoid because your roof is one of the most important features of the house to protect all the contents of the house from the elements. Usually, the roof will need to be replaced immediately, so it's important to set aside funds for such an event.
Homes in areas with certain types of climate may need to replace the roof more frequently, for example, Florida. However, the good news is that roof replacements are one of the renovations that increase home value the most. They can achieve an average ROI of 68.2% on asphalt tiles and 60.9% on metal roofs, which represents a great return on investment and makes this replacement more attractive.
3.Exterior PaintingHow often you need to paint the exterior of your home depends on variables such as where you live, the painting surface and the quality of the paint used. Applying high-quality paint, for example, can extend the life of the paint to 15 years or more.
The climate of your area, the direction of your house when you look at the sun, and many other factors will determine how long the exterior paint will last in your home.
4.Roadway RepairsRoadway repairs can be complicated, depending on the type of surface you have and what's wrong with it. Asphalt roads should be sealed every 2 to 4 years to avoid cracks that allow water to enter underneath and cause accumulations that cause further damage. Concrete driveways need as much care as they do, but tend to last a little longer due to the nature of the material.
5.Heating System MaintenanceLike your central air conditioner, your heating system also needs annual preventive maintenance to work properly. A well-maintained gas oven has an average life of 13 to 20 years before parts start to crack, corrode and become dangerous.
6.Water Heater Repair or ReplacementUnfortunately, water damage is common in the home.
Every day, 14,000 Americans face a water damage emergency, while 98% of basements will suffer water damage at some point in their lives. However, there are steps you can take to protect your home from water intrusion.