First-time homebuyers often make the mistake of thinking that the only cost associated with owning a home is the mortgage. While owning a home has many advantages over renting, there are additional maintenance costs that are associated with home ownership. In order to be prepared for unexpected costs, it’s helpful to know some common home repairs. 

1. Foundation

Cracks can occur in a foundation for several reasons including settling soil and moisture. Even if the contractor did everything correctly during the process of pouring the foundation, these two reasons can cause even the best foundation to crack. Fortunately, foundation crack repair Tulsa OK is available to correct any problems. Work with a reputable foundation company that offers the following services:

  • Foundation repair
  • Foam injections
  • Drainage
  • Basement repair
  • New Concrete

2. Roof

If you live in an older home, you may need to replace the roof sooner than you’d like. A roof warranty is around 20 years or more; however, the warranty generally only covers manufacturer’s defects. Unfortunately, it can be pretty difficult to pinpoint defects in the shingles after many years. You may find that you need to cover the cost of repair which can cost hundreds to thousands of dollars. To prevent major repairs or leaking problems, have your roof inspected regularly by a professional.

3. Electrical

After living in your home for a few months, you may find that you experience surges or dips in power. Or, if you don’t have any electrical problems, you might want to add lighting or outlets. While there are some projects that you can do on your own, it’s best to hire an electrician for any electrical work.

4. Water Heater

You’ll know you need to replace your water heater if you no longer have hot water, it’s leaking or is older than 10 years. If you’re handy around the house and feel like you can replace it on your own, you’ll occur just the replacement cost of the unit. If you hire a plumber, the cost will increase to cover the new water heater and labor.

There are maintenance costs associated with owning a home. Be prepared for home repairs by saving money in a home maintenance budget each month.