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Estimating Your Foundation Repair Cost

Posted on January 23, 2012
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Each year, thousands of American homeowners are forced to make critical repairs to the foundations of their homes. Although these repairs are necessary, the foundation repair cost associated with completing a project of this scale can be rather significant. If you have recently discovered some structural damage within your home, you may be wondering what your foundation repair cost will be. Being able accurately estimate your own foundation repair cost will allow you to begin saving money that can be used to pay for repairs. Many homeowners find that having an estimated figure can help them avoid being taken advantage of by dishonest contractors. When it comes to estimating your foundation repair cost, there are two factors that you must consider.

These factors include the price of raw materials needed to complete the repair, and the amount of labor that must be done. When you evaluate each of these two factors separately, you will be able to obtain an accurate estimate for each. By combining both estimates, you will have a final number that will include all aspects of the foundation repair cost. Many homeowners become intimidated at the thought of compiling such a large estimate, but when you break it down into these two major areas, it becomes much easier to determine what the cost of your repairs might be. Before you can estimate the price of raw materials, you will need to determine how severe the damage to your home’s foundation is. If the foundation is suffering from minor cracks only, a small amount of concrete will be needed to seal these cracks. If the damage is more significant, portions of the foundation may need to be re-done completely.

This type of repair involves a large amount of concrete and other materials. Since concrete is the dominant material in any foundation repair, you should make an effort to obtain an accurate market value for concrete in your area. This can be done by contacting a concrete manufacturer and requesting a quote. Most companies sell concrete by the square foot, so your final price will depend on how many square feet of concrete you need. Once you have determined the square footage of your repairs, simply multiply this number by the price the company provided. The final total will serve as your estimate for raw materials. Next, you can begin to determine the price of labor. This is best done by obtaining estimates from general contractors in your area. Most foundation repairs are completed by licensed general contractors. These individuals have access to the knowledge and equipment needed to successfully repair any foundation damage.

By inviting several contractors to evaluate the damage your home has sustained you will be able to find the most affordable labor available. Most contractors will automatically include the cost of materials in their estimate, so make sure you check this figure against the one you created yourself. If the number provided by the contractor is too high, he or she may be trying to take advantage of you. Finding an honest general contractor is much easier if you have already completed your own estimate. Estimating foundation repair cost doesn’t have to be difficult. By breaking the estimate down into two separate areas, you will make the project less overwhelming. Homeowners who completed their own estimates usually end up saving a significant amount of money, so the estimate process is worth the time that will be invested. If you run into any problems, or if you have questions or concerns, you can always enlist the help of other homeowners who have been through the estimate process.

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