Foundation repair cost can vary widely based on several factors, ranging from a few hundred dollars for minor crack filling to tens of thousands of dollars for extensive underpinning.
On average, homeowners can expect to pay between $2,000 and $7,000 for foundation repair, with some extreme cases leading to $10,000 or more.
Understanding these factors can help homeowners prepare for the financial aspect of repairing their home’s foundation. Here’s what influences the cost and what you can expect.
8 Variables That Impact Foundation Repair Costs
1. Extent of the Damage
The more extensive the damage to the foundation, the more expensive the repair will be.
Small cracks can often be filled in at a relatively low cost, while significant structural repairs can be quite expensive.
Unfortunately, those expensive significant structural repairs are also the ones that pose the greatest risk to the long-term structural integrity of your home.
2. What Type of Foundation Do You Have?
Different types of foundations require different repair methods.
A slab foundation, for instance, may cost less to repair than a basement or a crawl space because it is easier to access.
There are certain foundation problems which are more common in each as well. Those all come with their own unique price tag.
3. Repair Method
There are various methods to repair a foundation, and each comes with its own costs.
For example, sealing a crack with epoxy might be on the lower end of the cost spectrum, while underpinning a foundation with piers can be very costly.
In many cases this is tied to the first two items. The worse the damage, the more invasive the method used will likely need to be. Different types of foundations also often require different methods of repair.
4. Size of The Home
Larger homes with more weight to support may incur higher costs due to the increased material and labor required.
If piering is being installed, for instance, a small two-bedroom ranch is probably going to require fewer piers to support its weight than a mansion would.
5. Geographic Location
Labor and material costs vary by region.
Additionally, certain areas may have specific building codes or require special permits, which can affect the overall cost.
6. Contractor Expertise
Experienced contractors may charge more for their services, but they also bring expertise that can ensure the repair is done correctly.
Less experienced contractors might also employ less complex foundation repairs. That might mean lower costs but also less reliability of the repairs.
It’s crucial to choose a qualified and reputable professional, even if it means paying a bit more.
7. Additional Costs
Sometimes, repairs may uncover additional problems, or the method of repair may require additional work, such as landscaping or rerouting utilities, which can add to the cost.
8. Materials Used
The cost of materials can fluctuate depending on the quality and the current market. Higher quality materials may cost more but can provide better durability and longevity.
Given the consequences for your home or business if the foundation repair products fail, however, this is one area where you don’t want your contractor to skimp on. Quality materials are a must.
2 Things That Can Reduce The Financial Impact of Foundation Repair
1. Insurance and Warranties
In some cases, homeowners’ insurance may cover foundation repairs, especially if the damage is due to a covered event.
It isn’t common, but you should check your policy just in case. If it is covered it will likely save you much of the cost.
Additionally, some companies may offer warranties on their work, which can provide long-term security. If the fix fails, you won’t have to be hit with the same price tag again.
2. Foundation Repair Financing
Because foundation repair can be expensive, some companies offer financing options to help homeowners manage the cost. It’s worth asking about these options if the upfront cost is prohibitive.
The cost of foundation repair is not a one-size-fits-all situation. It’s influenced by the extent of damage, the type of foundation, the repair method, and other factors. Homeowners should get multiple quotes from reputable contractors to understand the potential costs better.
It’s also important to act promptly on foundation issues, as delaying repairs can lead to more significant damage and higher costs down the line. Remember, investing in your foundation is investing in the overall health and longevity of your home.
Get a Free Estimate
Send A Message
Call us or fill out a form today for one of our foundation repair experts to give you a free estimate. Our technicians will inspect your property and come up with a plan that provides quality work at an affordable price. Our promise to you is to provide excellent service and complete your project in a timely manner.