How Much Do Common Home Repairs Cost?
Posted by Garman Group on
Buying a home is likely to be the most expensive purchase you’ll ever make. And unlike when you rent, all the repairs that come with owning a home are now your responsibility.
And although older homes may undoubtedly have more charm, you’re likely looking at more repairs and general keep-up costs.
So, it may be worthwhile to put some money aside for home repairs you’ll likely have to do in the next few years. But how much?
This is by no means an extensive list, but here are some common home repairs you may run into and how much they generally set you back.
A New Roof
Getting a new roof is not cheap!
Luckily, roofs often come with about a 20-year warranty — if not longer. So, if you buy a home with a reasonably new roof, any issues should be covered.
But if it’s your responsibility to get a new roof, it’s best to get referrals, as well as a few different quotes. To give a very general ballpark price, a basic roof on an average-sized home will run you roughly $8,000 - $10,000. And this can vary greatly depending on size, roof grade, choice of materials, and if you need gutter work or other patching.
Hot Water Tanks
Again, this is something that often comes with a warranty so check into that before you replace.
Rule of thumb in this case is to replace your hot water tank every 5 – 10 years. It can run you anywhere from $300 - $1200 depending on the type, and where you buy it. If you need it installed, you'll also need to factor in a few hours of labour costs for that.
Doing home renovations is not likely to be an urgent repair, unlike a roof or hot water tank. But most homeowners do at least some upgrades over the years, so it's worth factoring them in. Kitchen renovations are the most common type of renovation in the home. Not only do they increase its functionality, but they increase the value of your home.
Home renovations are tough to provide an average cost for. Your updates might only be getting some new cupboards and a fresh coat of paint – which will likely only run you a few thousand dollars. However, completely gutting a room and re-building it using a renovation company can run you upwards of $80,000 or higher!
Windows are another essential upgrade you need to get several quotes for before deciding. And costs will vary depending on how many windows you’re replacing. Unique-sized windows, double pane, screens, and other panelling will also add to the price.
A very general ballpark number would be about $200 per window. Installation will almost always be extra.
Between your kitchen and bathroom, you’re likely going to have to deal with a clogged drain at some point over the next few years.
It could be that a $5 plunger does the trick, as may a $3 bottle of drain de-clogger. But if it’s a stubborn clog or if clogs are an ongoing issue, you may have to get some new parts or completely new drains.
Again, it may just be a new S drain you can pick up and install yourself for fairly cheap. But you may need to get a plumber in to inspect and install all new pipes. This will cost you several hundred to several thousand dollars.
Contact the Garman Group
As you can see, it’s certainly not cheap to maintain a house over a decade or two. But the rewards of ownership and being able to do home renovations and repairs on your own terms often outweighs the cons of the cost.
We’re qualified MLS REALTORS® and can help you buy a home which shouldn’t require a lot of heavy home repairs immediately. Plus, we can help you get a fair price if you decide to sell your home if it starts to become too much upkeep for you. Contact us today with any further questions.