You have heard that a home is the most expensive purchase you will make in your lifetime. If this is true, it should be of concern if the foundation needs to be repaired or replaced. The cost of foundation repair can vary depending on many factors like repair method.
These are just average costs, and your actual average foundation repair cost could be more or less depending on the severity of the damage and the type of foundation you have.
This article will help you better understand the different types of foundations, what affects foundation repair costs, etc.
Factors to Calculate Foundation Repair Cost
There are many factors to consider when trying to calculate the cost of foundation repair.
Materials, Permits, and Labour
The first thing you need to do is estimate the materials required for the repair. The most common foundation repair material is concrete. Other materials that may be used are steel, wood, and piers.
You will also need to factor in the cost of permits. The cost of a permit can range from $75-$150.
The last material cost you need to factor in is the cost of labor. The average foundation repair takes 3-5 days to complete. You can expect to pay $150-$200 per hour for labor.
Specific Cause of the Foundation Issue
The next thing you need to consider is the specific cause of the foundation issue. The three most common causes of foundation issues are:
These three factors can be caused by many different things, such as:
Intensity and Type of the Foundation Issue
With many of the above factors, there are different levels of intensity. For example, soil erosion could be something as small as a few foundation cracks or large sections of your foundation shifting.
With plumbing leaks, it could be a small drip going on for months or a large pipe that has burst and is causing flooding in your basement. Foundation leak repair cost will obviously be different for each of these scenarios.
The type of foundation issue will also play a role in the repair cost because it'll determine how the repair needs to be done and what type of materials need to be used.
Who you choose to repair will also affect the cost. Some foundation repair companies use what is called a slab-jacking technique. This is where they drill holes in your foundation and pump concrete under the foundation to raise it back into place.
Other companies use a piering technique. This is where they drive steel or concrete piers into the ground and attach them to your foundation. Then they use hydraulic jacks to lift the foundation back into place.
The type of technique used will also affect the cost. The piercing technique is usually more expensive because it requires more materials and labor.
Type of Foundation
The type of foundation you have will also play a role in the repair cost. The three most common types of foundations are:
Size of Home
Understandably, the size of your home will play a role in the foundation repair cost. The bigger your home, the more material and labor it's going to take to repair the foundation. Although, minor cracks in a large home will generally cost the same to repair as major cracks in a small home.
Foundation repair costs can vary quite a bit depending on the extent of the damage and the type of foundation repair methods.
However, it is essential to note that foundation repair is an important investment in your home and should not be put off (check out the consequences of not fixing foundation issues)
If you think you may have a permanent solution to foundation damage, it is best to have it inspected by a foundation repair contractor as soon as possible to get an accurate estimate of the repair costs.
David is the lead content editor at RVA Paving Pros, a service for Richmond VA residents. In his spare time, David likes to travel, read about business and visit the finest italian restaurants in town!
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