Most Expensive Home Repairs That Can Break the Bank

Owning a home comes with a number of perks, but also a lot of responsibilities. One of the biggest drawbacks of being a homeowner is the expensive home repairs. Leaky roofs, plumbing issues and cracked foundations can really drain your finances, especially if these problems go unnoticed for a long time.

Many people delay fixing a problem until it’s too late. However, the more you wait to take care of something around your home, the more you will need to pay. You can easily prevent the financial and property damages by regularly inspecting your home and fixing the issues when they occur. Not sure where to look? Here are 6 small home repairs that can quickly snowball and turn into a massive expense.

1. Roof and Gutters

Roofing and other structural components are some of the most pricy things to repair. Poorly maintained gutters can result in a number of problems such as basement flooding. The debris can plug up the duct, causing the water to spill over during rainstorms and pool around your house’s foundation. Clean the gutters at least twice a year and extend downspouts to lead water at least 10 feet away from your home. These simple actions can save you tens of thousands in fixing foundation damage.

2. Foundations and Concrete Slabs

Just like roofing, foundations can be quite difficult and costly to repair. A small crack in the concrete can become a large fracture and expose your entire house to risk. The fissures allow water and insects to penetrate leading to significant damages later on. The water in the cracks could freeze and expand in the winter, extending the hole and compromising the structural firmness of the concrete section. Repair the minor cracks immediately with a vinyl concrete patch or you can find an experienced handyman to help you.

3. Plumbing

Taking care of the leaky faucets can save you around 10% in water bills. Giving your plumbing system a quick check-up will help you prevent sudden leaks and burst pipes. Water that gets into the walls, floors and foundations can lead to significant harm. It is easy to spot a leaky faucet, but finding other types of leaks can be quite difficult. Luckily, most plumbing repairs are affordable and simple.

4. Windows and Doors

Loose or cracked caulk around the doors and windows is not only unsightly, but can also cause water damage. This problem can also affect your cooling and heating costs. Look for water stains near the windows and doors and air drifts. Replace the damaged caulk right away with a silicone caulk. If you have old windows, install plastic insulation sheeting. These cheap fixes will save you hundreds in wasted energy costs.

5. Exterior Paint and Siding

The exterior paint is important for the neat and sharp look of your home. It also keeps the water from ruining the structural components beneath it. Blistered, cracked or peeling paint, as well as loose caulk indicate a potential problem. Take immediate action by sanding and repainting the small areas, including the trim around the windows and doors.

6. Heating and Cooling System

Issues associated with the HVAC system (Heating, Ventilation and Air Conditioning) are poor performance, higher energy costs and mould throughout the house. Some of the tell-tale signs of malfunction are corrosion spots and leakage from the water heater. If your circuit breaker keeps tripping or the system needs be turned on and off frequently, you may to look for reliable electrical services.

Whether you decide to hire a professional handyman or tackle these home repairs yourself, you need take care of the minor issues before they turn into an expensive problem.