The current economic climate means that almost everything costs more these days. Home repair costs are also rising. This is due in part to the material shortages, transportation problems, high demand, and rise in inflation.
In 2022, the average homeowner spent around $3,000 on home maintenance costs, and another $2,000 on emergencies.
Being ready to tackle some of these costs starts with being prepared. Continue reading to learn more about common home repair costs so you can be better prepared.
Electrical problems of any sort are often best left to the professionals. Mistakes due to inexperience can result in disaster and injury.
The average cost for electrical repairs can run you up to $400 for minor work, and up to $2,500 if you need your whole electrical panel fixed or replaced.
Water Damage Restoration
Extreme weather events are becoming all too common, and with them often comes flooding and water damage. Expect to pay up to $2,600 to have flooring and walls restored.
Additionally, you will need to make sure there is no mold left behind.
Water Heater Replacement
This is a very typical repair that many homeowners face. Depending on where you live, the water heater may not last as long as the manufacturer states.
The cost to have your water heater replaced averages between $500-$1,700 plus labor.
Septic System Repair
Paying someone to clean out the smelly septic comes at a price, but you should pay it. The health implications for trying to DIY this one yourself can be pretty bad.
Plumbers can come in and pump out the septic, repair it if it is cracked, and restore drain fields. You can expect to pay around $1,700 – or as much as $6,000 if you need a whole new system.
Termites can cause thousands of dollars in damages if they are not eradicated or prevented. Even a small infestation can cause up to $3,000 worth of damage to your home.
Make sure you are treating your house regularly to avoid this cost. The cost to treat yearly can be around $575.
Air Conditioning Repair/Replacement
The loss of air conditioning is not only unpleasant, but in some parts of the country, disastrous. Most AC units are constructed to work for up to 15 years. However, this also depends on how much they are run in the course of a year, where they are located, and how they are maintained.
The average cost to fix a problem with your air conditioner can run as little as $350, or as much as $6,000 for a replacement.