4 Most Expenditure Home Repairs That May Come Your Way 

Home repairs are a reality of homeownership, but they don’t always have to be financially stressful. It’s best to save for these expenses in an emergency savings account or a dedicated home repair fund, rather than relying on credit cards or loans. Another good idea is to check and get a home warranty quote for your home so if there is an appliance repair you don’t have to worry about the cost of repair.

Additionally, performing low-cost preventative maintenance like cleaning gutters, sealing cracks, and updating old appliances can help to lower costs over time. 

1. Roof Repair 

A well-maintained roof adds curb appeal, improves your home’s energy efficiency and protects the inside from water damage. Unfortunately, time and weather can cause damage that requires repair. Small leaks and deteriorating shingles can be patched, but more serious problems like extreme physical damage may require a full replacement. 

A complete roof replacement can easily cost more than $30,000, depending on the size and materials used. Fortunately, you can prevent some of these costs by scheduling regular inspections and using preventive maintenance techniques like installing gutter guards and keeping the soil around your house at a slope to ensure proper drainage. 

2. Plumbing 

Plumbing is one of the most expensive home repairs that can pop up when you least expect them. Whether it’s due to an older construction material with a known problem, a leaky pipe or a clogged drain, plumbing issues can leave you with thousands of dollars in repair costs. 

The plumbing system in a building includes pipes, fixtures and other apparatus used for water supply, distribution and drainage. It also follows bacterial and health safety standards to protect individuals from waterborne diseases. 

The most common plumbing problems are leaking faucets, water stains and low water pressure. If left unchecked, these problems can lead to major issues like burst pipes, flooded bathrooms and even mold growth. As such, it’s important to prioritize plumbing issues based on need and cost. This will help you avoid costly repair bills in the future. 

3. Electrical 

With the potential to wipe out your entire yearly maintenance savings and tank your home’s resale value, electrical issues are certainly not something that you want to leave unattended. Outdated or faulty wiring can pose serious safety risks and cause fires, shocks, and other injuries to your family members. 

Since most of the electrical system is located within walls and hard to reach, you’ll

need a professional electrician to assess and fix the problem. You should be aware of signs such as flickering lights, frequently tripped circuit breakers, and outlets that don’t work in order to make sure that your house is safe for everyone living in it. 

You can also have annual inspections done by a qualified electrician to prevent expensive repairs down the road, such as rewiring your home. This can be one of the most expensive home repairs that you will face. The more you keep your home in good condition, the better it will be for resale and overall quality of life. 

4. HVAC 

If your HVAC system is aging or is having problems, this could be an expensive repair. Homeowners should have the HVAC system replaced about every 10 – 15 years. 

A HVAC system can be made up of a combination of gas furnace, air handler, ductwork, thermostat and other units. The term HVAC is a bit misleading, as it stands for heating, ventilation and air conditioning. However, the term AC is used more commonly as it refers to air conditioners. 

Plumbing and HVAC issues are some of the most expensive repairs, and they tend to happen at the worst times — right before a major event or when the weather is extreme. Luckily, there are some preventive measures that homeowners can take to reduce these costs. For example, having a professional perform a home inspection and conduct regular maintenance can help catch any potential issues. This can save homeowners a lot of money in the long run.