And now down to brass tacks. Undoubtedly, the cost of repair is a huge concern for homeowners. And that’s natural. Money matters, and so does your home. You want to make sure you’re protecting your house with the best, cost-effective solutions.
There is a lot to consider with foundation repair such as the extent of damage, the area needing to be repaired, square footage, the material needed, labor, etc. This differs from company to company. So be sure to have a thorough discussion with your contractor about pricing and payment.
Also, no two foundation problems are alike, and there are no one-size-fits-all fixes. Every home is different and requires its own unique repairs. So, what may have been the answer for a friend or neighbor might not be a perfect fit for your home’s repair needs. That’s why it’s so important for one of our inspectors to physically visit your house and look at your foundation problems. That way, he’ll be able to properly diagnose the issues and recommend the best, customized solutions.
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.
Check with your insurance carrier regarding concerns with 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)