The Most Expensive Home Repair Costs (And How To Pay For Them!)
Welcome to homeownership! It’s going to cost you.
There are many good reasons to own a home. You aren’t shackled by rent, landlords, or roommates. You can also do whatever you want with your space. It also happens to be one of the most solid investments you can make during your lifetime.
On the downside, it’s almost certain you’ll be faced with some steep home repair costs either before you move in or throughout the time you live there.
There may not be a way to prepare for all the home repair costs that will come your way, but there is a notable option to pay for them. Here are some of the priciest repairs you may have to make on your home — and how to get financial help with a payday loan when faced with a hefty home bill.
Home Repairs And Their Costs
Roof Repair
There’s a reason the roof is thoroughly checked out by a home inspector before a home purchase. It can experience a lot of wear and tear over the years and decades, leading to leaks, animal damage, weather damage, and missing shingles.
Repairing small issues usually runs in the $500 range, but complete roof replacement can average around $6,500 and go all the way up to $10,000 depending on the style of roof you choose.
By the way, faulty roofs can lead to a whole separate entry on the list of high home-repair costs: water damage. Water damage caused by a leak or roof damage averages around $2,500. It can also lead to paying over $2,000 for mold removal.
Plumbing and Sewer Line Repairs
Not only is fixing plumbing and sewer line issues arguably the most expensive of home repair costs, but it’s also the most … well … let’s just say unpleasant. While it may cost just a few hundred dollars to patch a pipe that’s leaking, it can run you $25,000 to fully replace a sewer line that has burst.
And if the repairs are complex, perhaps involving new concrete, your bill may go as high as $36,000. Plumbing is on the comparatively cheaper side, but a burst pipe that’s below concrete can go as high as $4,000.
Air Conditioning and Heating Repair
Depending on where you live, maintaining a functional HVAC system is likely a priority. It is also likely to be one of the most expensive home repair costs you’ll encounter. The cost depends greatly on how the previous owners treated their system, how long ago it was purchased, or how often you performed necessary maintenance.
While tune-ups are just a few hundred dollars, completely replacing your heating and cooling system can run you $9,000-$10,000 easily.
Electrical Problems
Ah, the dreaded (and vague) electrical problems. This issue is typically seen through lights that flicker, circuit breakers tripping, and even appliances shocking you.
Since many electrical issues require repairs to wiring found in walls, it can end up being a costly repair. While average repair runs between $300 to $500, if rewiring is required there’s likely a $15,000 bill headed your way.
Foundation Issues
Not everyone’s home foundation is at risk, but foundation repairs can get complicated and expensive for those who live in areas of flooding and drought. There is a broad range of costs for foundation repairs, but they may go as high as $11,000.
Termite Damage
You may think (or hope) that tiny termites wouldn’t cause extensive damage. You’d be wrong. Termite damage to walls, basement, floors, and more, often can rank highly as far as home repair costs. This can sometimes be up to $8,000.
Quick Payday Loans May Help
Home repair costs can be a scary financial emergency, especially when the bill heads into $10,000-or-more territory. Quick payday loans are an option to address a financial emergency caused by expensive home repair costs.
A payday loan is specially designed as a short-term loan of a small amount of cash to help cover financial emergencies between paychecks. At Carolina Payday Loans, Inc., you may qualify for quick payday loans of up to $550 — and it can take as little as 30 minutes. You also receive the money you need the same day or the very next business day.
All that is required is your most recent pay stub, a driver’s license or government-issued I.D., and a blank check from a checking account that is active and in your name.
You can get started online. Head to our homepage, Submit the short payday loan inquiry form, and one of our loan representatives will give you a call to walk you through the rest of the fast payday loans procedure.
Try a Payday Loan Today
Coping with surprisingly expensive home repair costs? When you qualify for a quick payday loan, help is on the way. Start online, give us a call, or visit one of our many locations near you today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.