5 Most Expensive Home Repair and Renovation Projects - DRB Capital
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5 Most Expensive Home Repair and Renovation Projects

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Top 5 Expensive Home Repair & Renovation Projects

Many people call DRB Capital to see if they can get money from their future annuity or structured settlement payments and use it to fix up or remodel their home. DRB Capital may be able to help with that. Renovating your home can be a terrific way to add value, while certain home repairs and renovation projects are just downright necessary. Although most remodeling projects of this nature can be quite costly, there are certain home repairs that are worth investing in because, in the long run, it could cost you more to ignore them.

repair and renovation projectsRenovating your home can also be a great way to customize your home to meet your needs. If you recently purchased a fixer-upper, for example, you may have a lot of home repairs and home renovations planned: renovations to update certain aspects of your home and customize it the way you need it and repairs for any necessary issues that can sometimes go hand-in-hand with older homes. While it can be an exciting process overall, it is also something to plan for financially, especially when it comes to specific projects.

The following are some of the most expensive home repairs and renovation projects. Keep in mind that these are nationwide median costs, and depending on the specifics of your home, location, fluctuating cost of materials and other factors, costs may be substantially higher or lower.

Replacing a Roof

Average cost: Between $5,100 and $10,000

replacing roofReplacing a roof is a big, but sometimes necessary expense that homeowners have to plan for when roof repairs will no longer suffice.

One of the biggest factors that will influence the cost of a roof replacement is the size of your home and the size of the roof needing to be replaced. Other factors that affect the cost of roof replacement include ventilation, nails, flashing, and labor.

Remodeling a Bathroom

Average cost: $10,782

Remodeling a bathroom to make it accessible can add value to your home. The cost of a bathroom remodel will vary greatly depending on the size of the bathroom and whether it’s a small powder room you’re remodeling, for instance, or a large master bath.

New Siding

Average cost: $10,576

Residing your home may be necessary to address. Residing is typically based on a price-per-square-footage model, and is based on labor costs, as well as the specific material used. Two-story homes are typically 20 percent costlier than the nationwide average, and certain types of layouts that are not typical may be classified as difficult installations, which can also drive the cost up.

Adding an In-Ground Swimming Pool

Average cost: $35,000

in-ground swimming pool installation

Adding an in-ground swimming pool for water therapy can be a major help, so it’s no surprise that it can be an expensive project for homeowners.

There are other factors that influence the cost for installing a new swimming pool as well, such as whether the pool is built with vinyl, concrete, or fiberglass, as well as the size of the pool and its location.

Remodeling a Kitchen

Average cost: $24,000

If your kitchen needs to be remodeled to be accessible and to meet your needs upgrading it can be a great investment, and the cost of your renovation will vary based on several factors. The size of the kitchen, the materials you use, and the amount of labor involved will all affect the cost of a kitchen remodel. Some homeowners choose to just do a minor remodel that involves certain elements of the kitchen, whereas other people decide to go for a complete overhaul. Home Depot offers a tip called the “one-third rule” for sticking to a kitchen renovation budget and ensuring you don’t spend too much of your remodeling allowance in one single area. The concept involves dividing your expenses into three parts: for example, one-third goes toward the installation and labor expenses, one-third toward new cabinets or upgrades to your current cabinets, and the remaining third going toward everything else: backsplash, flooring, appliances, and so on.

These averages are only a guide and done by our researchers, you must do your own research to get averages in your area and for your product choices. If you are interested in remodeling parts of your home because you are  in desperate need for repairs, we can help if you are receiving structured settlement payments and you need a lump sum of money for that. By selling some (or all) of your future structured settlement or annuity payments to us, we can provide you with money upfront in one single lump sum payment. Since the rights to your future structured settlement or annuity payments are transferred to us, you then receive the money you would receive periodically in the form of one large, lump sum. By receiving a large lump sum of cash through the sale of structured settlement payments or an annuity, you can have the money you need to take on costly home remodeling projects or take care of any necessary (yet expensive) repairs that your home needs. Contact us today at 877-894-4541 to learn more about how the process works, and to receive your completely free quote.

Here are different sources used for each to get some average prices mentioned above: Roof, Re-siding, Pool, Bathroom, Kitchen.