Homeownership comes with great responsibilities and a few headaches as well. These include property taxes, mortgage payments, and, most of all, maintenance repairs. Maintenance is a huge expense for homeowners, especially if it’s a painfully expensive repair.
One popular rule states that you should save at least one percent of your home’s total purchase for maintenance. For example, if your house costs $300,000, you should save $3,000 per year for maintenance and repairs.
But whether it is the result of negligence or old age, you can never avoid home repairs. At some point, you need to do something to fix it.
If you are on a tight budget, you might consider doing some DIY repairs. But what if the repair goes beyond your skills? Here we have rounded up the most expensive home repairs that require a professional contractor. Take note of the following home repairs before you do them yourself!
1. Converting Rooms
It is never unusual to have a spare bedroom in the house. Your children grow up and move out, while guest bedrooms become useful only when they are visitors. In data released by the US census, the result shows 33.6 million spare bedrooms across the nation. If you have it rented for $100 a week, U.S. spare bedrooms could be worth $175 billion per year.
Having a spare room converted into a functional space is a practical choice. A common practice is to have a large room divided into smaller ones. While it may sound easy, converting a room is a costly repair.
Demolishing walls can be very dangerous; you have to check everything connected to the wall, including the ones above it. You don’t want your ceiling caving in as you smash those walls.
When in doubt, hire a full-service home builder. You should best leave the task of converting rooms and tearing down walls to a professional. Building companies know if a wall is supporting something or if there are pipes or wirings installed.
2. Fixing the HVAC unit
Homes that require heating and cooling systems have HVAC units. The unit itself costs thousands of dollars, along with the maintenance. It is one of the most sensitive and complicated systems at home. For any repair, it is better to leave the job to a professional. The last thing you want is to incur further damage to the HVAC system.
A damaged HVAC unit is a costly home repair and one of the home repairs you cannot fix by yourself. A major repair can easily cost you over $1,000. But allowing an expert to handle the repair can minimize damages and costs.
Professional work for damaged HVAC includes tripped breakers and blown fuses. Expect to dole out cash for the labor and spare parts. A damaged coolant leak ranges from $200 to $15,000, while issues in the fuses and circuit breaker range between $50 to $200.
To avoid paying for expensive repairs, have your HVAC unit inspected every three months. You can call in an expert to do maintenance, such as cleaning out dirt, lubricating parts, and tightening loose connections.
3. Replacing damaged roof
The roof is arguably the most important and the weakest point of any building. As the dirt and snow accumulate over time, the roof takes all the weight until its integrity weakens. Common problems usually range from rotting, leaks, and creaky roofs. Extensive damages cost between $3,000 to $12,000, while a new roof installation is around $7,500.
When fixing roofs, it is better to hire a professional instead of compromising your safety. If the roof already has plenty of damages, consider a new roof replacement.
Like other home repairs, conduct regular maintenance on your roof. If there are missing shingles, have a local roofer conduct inspection. Never let a roof problem sit for too long because a minor issue can pave the way for bigger problems.
4. Refinishing Flooring
If you have hardwood flooring in your home, expect that the repair and maintenance will be expensive. Hardwood is the most expensive type of flooring. The entire construction and planks can cost thousands. But on the brighter side, hardwood flooring increases the value of your home. If you take the time and effort to maintain it, your floor can last for decades.
Maintaining a hardwood floor requires some refinishing and sanding to make it look brand new. If you want to do it yourself, you will need a few tools and additional sanding equipment. But if you want to achieve quality results, a flooring expert can do the job better.
As your home ages, more problems will require some fixing. When it comes to doing major repairs and maintenance, it is better to be practical and realistic. If you are not sure about your DIY skills, leave the job to a professional. This way, you get better results and avoid further damage.