Foundation Repair Cost

It is hard to provide an average foundation repair cost because there are so many variables. Use the following information to get a general idea of prices. For the most accurate estimate, have a foundation repair expert out to do an inspection of your property.

AVERAGE COST OF FOUNDATION REPAIR

Based off projects from around the country, the national average is $5,857 for foundation repairs. But, costs have been reported as low as $250 and as high as $100,000. Your location can make a difference in the price.

The most affordable fixes include small crack repair or leveling with slabjacking. But, if your foundation needs long-term stabilization, piering is the best option, despite being more expensive.

WHAT INFLUENCES THE COST OF FOUNDATION REPAIR?

Your cost will be dependent on your particular situation. Factors that impact cost include:

• The type of foundation (slab, pier and beam, crawl space or basement)
• How accessible the sunken portion of the foundation is
• The cause of foundation failure
• The method of repair (piering or slabjacking)

FOUNDATION REPAIR COST BREAKDOWN

Piering cost

Hydraulic piers are a long-term solution for stabilizing foundations that have shifted. Each pier costs around $1,340 and repairs for an average-size home require 8 to 10 piers. This puts the cost for this method between $10,720 and $13,400.

Additional costs may include:

• $300-$1,500 to hire a structural engineer
• $500-$3,000 for soil reports from a geotechnical engineer
• $75-$150 for a building permit
• $3,000-$4,000 for seismic work (if you live in an earthquake area)
• $1,000-$2,500 for hidden obstacles (tree roots, old repairs, deep footings)

Costs will vary depending on your location. If the cost of foundation repair seems high at first, keep in mind that your home is a big investment. In the end, the cost will be worth it because your property will be safe and marketable.

Slabjacking cost

Slabjacking is good for small repairs. The slab is floated back to its original position by pumping a mixture of sand, cement, fly ash, and other additives through small holes. On average, you'll pay $150 per drill hole, or 33% of the cost to replace the concrete slab. Most slabjacking companies offer free estimates, contact one to get a more accurate price for your project.

WILL MY HOMEOWNERS INSURANCE COVER FOUNDATION REPAIR?

It is rare for foundation repair to be covered by your insurance if the cause was normal settlement. However, if your foundation problem was caused by accidental flooding of water from household plumbing, or you've purchased special supplemental coverage, you may be in luck. Read your policy or contact your provider.

Learn more: Will My Homeowners Insurance Cover Foundation Repair?

FOUNDATION REPAIR FINANCING OPTIONS

There are a variety of ways to get the money you need for repairs. Often you can arrange financing directly through your contractor. Here are some common options:

• Same-as-cash payment plans
• Reduced interest home improvement loans
• Home equity lines of credit
• Cash-out refinance loans
• Government grants for those that qualify

Learn more: How to Pay for Foundation Repair

DOES FIXING FOUNDATION DAMAGE INCREASE HOME VALUE?

A house with signs of foundation trouble can be difficult to sell. Buyers may ask you to pay for repairs before closing or reduce the price of your home significantly, while others will walk away. Find out more about how foundation problems affect your home's value.

However, having your foundation repaired before you put it on the market will recoup much of its resale value. Plus, it will help give buyers confidence that it is structurally sound.

The cost to repair your foundation is a wise investment, since a sturdy foundation is necessary for your home to be competitive in the housing market. Speak to a local real estate agent to learn more about what buyers expect in your area.

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