The cost of owning a house is so much more than your monthly mortgage payment. Improvements and repairs to your home can be costly and could take up a large amount of your budget yet they are vital to maintain your home and possibly increase the value.
Dan DiClerico, a HomeAdvisor expert, states the average homeowner spends close to $7,000 on home improvements throughout the year. As a result, he highly encourages homeowners keep a rainy day fund in their household budget….ideally 2 to 5 percent of the value of the home.
The experts at Realtor.com have identified the 5 most expensive repairs that homeowners should be aware of which I have summarized for you below.
- Foundation restoration/foundation wall repair – the best way