The cost of repair is, without a doubt, one of the top concerns homeowners have when it comes to foundation problems. And that’s normal. Money is a big deal, and so is your home and its foundation. You want to make sure you are protecting it with the best solutions that also are cost-effective.
There is a lot to consider with foundation repair such as the extent of any damage, square footage, material needed, and labor. How these are addressed differs from company to company, so be sure to have a thorough conversation with your contractor about pricing and payment.
Plus, no two foundation problems are alike. Every home is different and requires its own unique repairs. That means that what may have worked for a friend or even your next-door neighbor might not be quite what your home needs.
To give you an idea, average home improvement spending is around $7,500, and most homeowners pay between $4,000 and $10,000 for foundation repairs. Some average foundation repair product prices are $1,000-$3,000+ per foundation pier, $500-$1,300+ for leveling/slab jacking, and $2,000-$6,000 for sealing/subfloor drainage. Read our “Budgeting For Foundation Repair” blog to learn more.
Check with your insurance carrier if you have questions about repair needs and insurance coverage, as all policies are different. Some policies may cover losses from fires, but many exclude coverage for issues such as foundation cracks or settling. But coverage may kick in if the foundation has been damaged from other problems like broken plumbing, for example. (Source: SF Gate)