Water damage is a common issue in the home, with 14,000 Americans facing a water damage emergency every day and 98% of basements suffering water damage at some point in their lifetime. As a homeowner, it's important to have a savings account dedicated to unforeseen home repairs and maintenance. Major home repairs can be hard to predict, especially if it's been years since you bought your property and a professional inspected it for hidden problems. We have prepared this list for you of the most expensive home repairs homeowners should consider and how to avoid them in the first place. The first of the most expensive home repairs is replacing or repairing your hot water heater.
This is a necessary expense, but it can come at a high cost. Maintaining your roof is also one of the most important home repair projects, as the top of your home is the first line of defense against the elements. Your entrance is an important part of the exterior appeal of your home, so it is one of those absolutely necessary home repair projects because it is the first thing visitors see. If you plan to sell your home, you should also repair your sidings as it will affect the exterior appeal of the house. Smoke affects the air quality of your home, so it is responsible for a large portion of the expenses that go into repairing a home after a fire.
It's also a good idea to have a healthy savings account dedicated to unforeseen home repairs. If you simply don't have the money or time to make those repairs before selling them, Renewed Homes can help. Experts estimate that the average annual cost of home maintenance and repair is 2-4% of the value of a home. Although some water is likely to come in occasionally, depending on your home and its foundation, a constantly wet basement is a bad sign and an expensive repair. It's a big change in a repair that doesn't improve the look or functionality of your home.
We've put together a list of the 10 most expensive types of home repairs and the best DIY maintenance tips to avoid spending a lot of money.