The most expensive home repairs, in order

Repairs are a necessary expense and cost of owning a home that can quickly add up — especially when you're dealing with larger problems that affect the whole home, instead of one particular area. However, prioritizing home repairs based on need and cost can help alleviate the financial burden. 

It’s important to evaluate the urgency of each repair and determine which ones require immediate attention vs. those that can wait. This is particulary important if you're considering buying a home as-is. Here’s a breakdown of some of the most expensive home repairs in 2023.

1. Foundation repair

Structural damage to a foundation can be caused by various factors, including natural disasters, soil instability, and poor construction practices. In these circumstances, repairing the foundation as soon as possible can prevent further, more costly repairs down the road.

When it comes to repairing a damaged foundation, cost can be a significant concern — and often, it’s a price you just can’t avoid paying. The cost can range widely, from $5,000 to $50,000 or more, with several factors contributing to this range. For example, the extent and location of the damage — as well as the type of foundation and the materials used — can all have an impact on the price. 

Accessibility is also a determining factor in the overall price. The harder it is for workers and equipment to access, the more you’ll pay in home repair costs. The current condition of the rest of the foundation can also impact the final cost. 

2. Roof replacement

A complete roof replacement is an unwelcome (yet necessary) expense that most homeowners will eventually face. The roof is vital in protecting your home from water damage and replacing it may be necessary if you’re getting ready to sell your home or if there are persistent problems overhead. While it can be a difficult expense to shoulder, a stable roof is a critical component that ensures the safety and longevity of your home.

While a new roof can cost anywhere from $5,000 to $45,000, many factors can raise or lower the final price. For example, the type of roofing material used, the slope and accessibility of the roof, and any additional work required — like removing and disposing of the old roof — will all impact the final cost. The time of year can also impact cost, and it behooves cost-conscious homeowners to schedule roofing at the beginning or end of the warmer season (if they can afford to wait).

3. HVAC system replacement

If you're considering replacing your heating, ventilation, and air conditioning (HVAC) system, be aware that this major home repair project can come with a hefty price tag. In fact, it's often one of the most expensive home repairs you’ll need to make. The final cost will depend on several key considerations like the size of the system, the brand of the system, the type of equipment needed, and any additional modifications required. 

Most home repair costs lists put HVAC improvements at $5,000 to $15,000 (or even more). The good news is that investing in energy-efficient options can help you save money in the long run. Although it may be a significant investment upfront, choosing an energy-efficient HVAC system can be a wise decision for your wallet and your home's comfort. 

→ Learn about replacing baseboard heating with forced air

4. Electrical rewiring

Electrical wiring is a crucial aspect of your home's safety that's often out of sight and out of mind. Outdated or faulty wiring can put you and your family at risk of electrical fires, shocks, and other hazards. Unfortunately, rewiring your entire home is among the most expensive home repairs — and you might not even know you need to pay for it until something goes wrong.

The complexity of the electrical systems and the size of your home will impact the cost of the project significantly. Rewiring home repair costs can range from $5,000 to $15,000 or higher, making it a significant expenditure for any homeowner. 

Remember, though, that investing in a complete rewiring is critical for keeping your home safe and up to code. It's a decision that can save you and your loved ones from potential harm and provide you with peace of mind knowing your home is safer.

5. Window replacement

Replacing old or damaged windows with energy-efficient ones is a smart choice for homeowners looking to improve their home's efficiency. Although it may be a significant investment, the return on that investment can be substantial. The cost of window replacement will depend on criteria like the number of windows, their size, and the materials used. 

On average, homeowners can expect to pay between $500 and $1,000 per window. If you have 10 windows, that’s $5,000 to $10,000 before labor costs. Ultimately, you’ll need to gauge how many windows you have and the cost per window to estimate a true cost. Luckily, window replacement offers financial benefits in the long run. This project can pay off substantially by improving your home's comfort and reducing your energy bills.

Related: Learn about residential energy credits 

6. Plumbing repairs

Plumbing problems can cost you a pretty penny, and major home repairs can come with quite the price tag. On most home repair costs list, repairs like major leaks, pipe replacements, and sewer line damages can easily cost a few thousand dollars to tens of thousands of dollars. (Luckily low water pressure in the house is an easier fix.) These costs depend greatly on the scope of the repair needed for your plumbing system. 

Though it may seem daunting, it's important to make sure the repair is done properly to avoid further damage in the future. It's always a good idea to consult with a professional to get an accurate cost estimate and evaluate all possible solutions. Don't let the cost scare you away from fixing your plumbing issues, because investing in those repairs could save you money in the long run.

7. Mold remediation

Mold is every homeowner’s worst nightmare, and it can pose significant health risks if left unaddressed. Its presence often indicates underlying moisture issues, which can be costly to fix. However, when it comes to mold, it's essential to prioritize your health and safety, no matter the cost.

Mold removal costs can vary significantly, ranging from $1,000 to $3,000 or more. The extent of the mold problem and the size of the affected area are the primary cost factors. Regardless of the cost, though, addressing mold as soon as possible is critical to prevent more extensive damage and potential health hazards in your home.

8. Termite damage repair

Termites are silent destructors, feeding on the wooden components of your home and causing extensive structural damage that many homeowners don’t notice until it’s too late. Repairing the damage left behind by these pesky insects can be quite costly. The expense will vary depending on the extent of the damage, but it can add up quickly, ranging from a few thousand dollars to tens of thousands of dollars. 

If you live in an area known for termites, it's important to perform regular inspections to catch infestations early on, to prevent them from causing damage to your house and strain to your finances. Prevention is key when it comes to protecting your home from termites.

→ More on you whether you should buy a house with termites

Prioritize the most expensive home repairs by need and cost

If your home needs repairs — especially extensive ones, like a roof replacement or a foundation repair — you might be wondering how you’ll cover the cost. Keep your home in tip-top shape without breaking your budget by prioritizing repairs by need and cost. Not only will this approach help you save money on home repair costs, it’ll also help you tackle the most urgent repairs first. 

By taking care of the most critical needs first, you can avoid problems that tend to snowball into bigger and bigger costs. From fixing that leaky faucet to repairing a broken window, consider the cost and benefits carefully as you consider making future repairs and improvements. 

Please note that these cost estimates are rough averages and can vary significantly depending on various factors such as location, size of the property, labor costs, and the specific circumstances surrounding the repair. It's always a good idea to secure multiple quotes from reputable contractors for an accurate assessment of the costs involved.

Here are tips for finding and hiring a contractor.

FAQs

Still have more questions? Here's more info on costly home repairs.

What are the most expensive home repairs?

Several home repairs can be costly, but some of the most expensive ones include foundation repairs, roof replacements, HVAC system replacements, sewer line repairs, and major electrical system upgrades.

Are these repairs covered by homeowners insurance?

Whether these repairs are covered by homeowners insurance depends on the specific policy and the circumstances of the damage. Generally, standard homeowners insurance policies may cover sudden and accidental damage, like as storm-related roof damage. However, normal wear and tear or neglect-related damage may not be covered. Make sure to review your policy and consult with your insurer to better understand the details.

How can I budget for expensive home repairs?

Budgeting for expensive home repairs requires planning and foresight. It's advisable to set aside a portion of your monthly income for home maintenance and repairs, which is a regular part of homeownership. Additionally, having an emergency fund specifically dedicated to home repairs can help alleviate the financial burden when unexpected repairs arise. Certain home improvements may be tax deductible. 

Are there any preventive measures to avoid these costly repairs?

While some repairs are unavoidable, there are preventive measures homeowners can take to minimize the risk and potential costs. Regular maintenance, such as inspecting the foundation, roof, HVAC system, and plumbing, can help identify issues early and address them before they escalate. Additionally, taking proactive measures such as installing gutter guards, performing routine cleaning, and maintaining proper drainage can help prevent water damage and related repair costs.