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Daily Real Estate News  |  September 22, 2006  |   Home Repairs That Really Dent Your Wallet
Some home repairs are known for being far more costly than originally thought, says Mike Kuhn, author of The Pocket Idiot's Guide to Home Inspections.

Kuhn, who's also a veteran technical director at HouseMaster home inspection service, analyzed data from nearly 2 million home inspections and 1,000 HouseMaster inspection reports from different regions of the U.S. and Canada. As a result, he's compiled a list of common repairs that can end up costing home owners a bundle.
  • Asphalt shingle roof replacement. If the original roof already has two layers on it, the cost of replacing the roof may increase by 40 percent because the existing layers most likely will need to be removed before a new roof can be installed.
  • Wet basement. Moisture in the basement is all too common. For some the solution can be as simple as directing the downspout discharge away from the foundation. But for others, the only way to solve the problem may be to install an expensive interior foundation drainage system and/or excavate around the exterior of the foundation for water proofing. Potential costs can be tens of thousands of dollars.
  • Central air conditioning system. Replacing the system's compressor may run $1500 or more, but if the entire systems needs an upgrade that number can go up exponentially, into many thousands of dollars.
  • Insect damage. Treating for termites or other wood destroying insects can only be part of the problem. Repairing the hidden structural damage left behind can be extremely costly.

— REALTORŪ Magazine Online

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