Depending on the type of house, extent of the damage and the nature of materials used, pier and beam foundation repair cost can vary widely from one house to another.
Some precautionary repairs may cost as little as a $1,000 while extensive corrective repairs such installation of concrete hydraulic piers all around the house can cost upwards of $10,000. Whichever option works best for your home, you do not have to pay more than is necessary to fix the problem.
Here are three essential tips on how to make the average cost of pier and beam foundation repair not only affordable but also good value for your money in the long run.
#1 Check the Deed Documents of your Home for any Builder Warranties
Many builders offer home warranty coverage for ten years or more. Such a warranty will guarantee the owner that the house is free of major structural defects which may affect the health and safety of occupants.
If such a guarantee was provided by the builder, it will be included in the property deeds which you signed on purchasing your home. Depending on the terms stipulated in the builder’s home warranty, you may either have the entire pier and beam foundation repair cost written off or at least reduced significantly enough to be affordable.
#2 Explore Home Financing Options
Many homeowner insurance policies do not provide coverage for damaged foundation repairs. However, you may still be able to afford the cost without paying the contractor directly. Shop around for home financing offers from home equity providers covering the cost of foundation repairs.
While the average cost of such a financed repair project will be higher than paying out of your pocket, it is more preferable than having more affordable but perfunctory repairs carried out. The cost of the project will also be spread over a number of years, making it affordable but allowing you to live in a secure and safe home right away.
#3 Have a Solution in Hand When Contacting a Prospective Contractor
Many homeowners contact repair contractors even before establishing the nature or extent of damage to a foundation. While a crack in the wall is almost certainly an indicator of foundation weaknesses, it is still imperative for the true nature of the structural damage to be established.
As explained in the post about house leveling cost, it is more prudent to consult a structural engineer before the contractor takes the project. As a professional not interested in pushing one solution over another, a structural engineer will be able to offer you objective advice on what solution will deliver the most effective correction of the foundation defects.
As outlined at the beginning of this post, it is hard to come up with an estimate price for a pier and beam foundation repair project without first analyzing the nature and extent of the damage. But a savvy homeowner can nonetheless reduce the total cost of the project while guaranteeing good value for their money by following some tested and proven tips.
These include activating any applicable builder’s home warranty clauses in the ownership deed, seeking for financing options and getting an engineer’s structural report before contacting a prospective contractor.
Assigned category: Foundation Repair