The cost of owning a home far exceeds your monthly mortgage payment. Home improvements and repairs also account for a large portion of your budget, but you need to keep up with them to maintain your property’s condition and value.
According to this article, 88% of homeowners were forced to make at least one major repair in one year. On average, Americans spend nearly $5,000 on home repairs and improvements on these repairs. Unfortunately, if you fall behind on repairs and improvements, you’ll have a home that is difficult to sell to a new owner.
Below are five of the most expensive home repairs and what to do if you’re behind on them but want to sell your Las Vegas home quickly.
1. Foundation repair.
Your foundation is a crucial part of your home. Damaged foundations can lead to major problems, such as the walls separating from the ceiling and cracks splitting up the walls. Homes with foundation problems can also be unsafe to live in. On average, you can expect to pay between $4,000 and $10,000 for foundation repair, though some people pay more.
2. Replacing central AC system.
Your cooling and heating equipment work hard to keep you comfortable year-round. In order to stay cool in our desert climate, you need a dependable AC system. Unfortunately, when your AC goes out, it’s incredibly expensive to replace it. Expect to pay a few thousands dollars or more depending on the size of your system and how complicated the work is.
3. Repairing water damage.
Water damage can also take a toll on your Las Vegas property. If the water damage is bad enough, you might have to replace entire walls or ceilings, which can cost thousands of dollars. Additionally, if the water causes mold problems, you’ll have to pay a mold restoration company, which usually costs between $400 and $6,000.
4. Roof repairs and replacements.
There are a number of reasons why you might need a roof repair. For example, there may be a small leak, damage from animals or normal and wear and tear. If your roof is badly damaged, you’ll probably need a full replacement. Typically, a replacement costs between $3,000 and $30,000 depending on the size and materials you choose. With the heat in Las Vegas, higher end materials like shake and clay tiles are ideal.
5. Siding repairs.
If your home needs a new roof, it’s likely that it could benefit from new siding as well. Siding protects the exterior of your home and enhances its curb appeal. As with roofs, siding costs depend on the materials you choose and the size of your home. A quality vinyl material is a great option for Vegas homes, with average costs between $5,000 and $14,000.
Selling a Home That Requires Major Repairs
If you own a property that requires expensive repairs and improvements, but you don’t plan on staying in it, you might be wondering what to do. Fixing up the home will consume all of your savings and then some, and you probably won’t see this big of a return when you sell the property.
An option to consider is selling your house for cash in Las Vegas. We Buy Any Vegas House is a company that buys homes, regardless of their size, condition or location. With an as-is purchase, you are not required to make any repairs or improvements. Walk away with cash in your hand and let us take care of the rest!
For a free, no obligation quote on your Las Vegas property, give We Buy Any Vegas House a call today!