Home Ownership Expenses You Should Always Be Ready For
Becoming a homeowner is a huge part of living the American dream and so are home ownership expenses. Owning your home can be greatly rewarding and largely overwhelming. The truth is home ownership can be a lot of hard work, sometimes even stressful. Properly budgeting for unexpected home repair projects can help absorb costs in expensive projects. As a homeowner, there are three major home improvement projects that can arise at any time. These projects appear as a surprise to most homeowners. We suggest planning ahead and always being prepared for their inevitable onset. Being aware of these common problems is the first step to tackling them and avoiding related stress.
What Home Ownership Expenses Should You Prepare For?
The first common home improvement project and, unfortunately, one of the most dreaded is Mold. The mold is primarily the result of built up moisture. Minor to severe water damage can be easily overlooked and as time passes the build up of moisture encourages mold to grow and spread. The damage caused by mold can be expensive to repair. The cost of mold removal and repair can run upwards of $4,000 per contaminated wall. This can put a pretty heavy dent in your normal monthly budget.
Two of the biggest home ownership expenses most residents face; repairs for the roof and repairs for the foundation. These major repairs can cause serious damage to the home and the homeowner’s budget. Faulty foundation issues are usually caused by errors or shortcuts done in the construction stage of building a home. Unfortunately, there’s not much you can do to prevent it. A key factor in preventing any future foundation issues is properly maintaining the drainage system. Foundation repairs can be estimated at $10,000 or more on average.
Being prepared for roof damage can also be a huge repair for homeowners. Roof damage is highly dangerous as the roof serves a huge structural function for the home itself. Roof damage ranks at the top of the list for critical home repairs. Sometimes the damage is repairable while other instances may require replacing the roof completely. The cost of having roofing replaced is directly correlated to the square footage of the project. On average, a normal roof replacement is priced out at about $6,000.
As you can see owning a home can be rewarding but it can also be very expensive. Many homeowners feel a constant cloud of doom lingering overhead with concerns of costly home repairs. Did you know that you can get cash for your structured settlement to help relieve the burden of critical home ownership expenses? The longer your home repairs are neglected, the more they can grow into even bigger issues. Call Freedom Financial Solutions if you need cash for your structured settlement to help with your critical home repair needs.