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Owning a piece of property has always been an essential part of the American Dream. On the downside, we cannot deny the costs of homeownership. In addition to property taxes, a homeowner needs to purchase homeowners insurance, as well as supplemental disaster insurance, if applicable, and cover the cost of maintaining, repairing, and upgrading the home as required. The good news is thatlifting your Houston home above the minimum BFE can help you save a lot of money on insurance as well as maintenance and repairs.
How Lifting Your Home Can Lower Insurance Costs
The overall cost of a home elevation project can vary greatly depending on specific factors, such as the size, design, and overall condition of the home being lifted. However, jacking up a home typically involves separating it from its foundation and raising it with the help of specialized equipment. Because home elevation work requires experienced workers and specialized equipment, thecost of raising a house in Houston can be significant. For this reason, many Houston homeowners continue to postpone elevating their homes. But what most of them don’t know is that flood insurance policies for non-elevated homes in a flood-prone area can cost much more than the policies for the homes that have been lifted above the BFE.
According to insurance professionals, you can lower the cost of homeowners and flood insurance policies by increasing the deductible or by making changes that reduce the risk of damage to your home. Remember, however, that a higher deductible translates not only into lower premiums but also into lower claim payments. Because this means that you’ll need to cover the difference out of pocket in the event of a flood, reducing your home’s risk is definitely a much better way to lower your insurance costs.
Because how much you pay for flood and homeowners’ insurance has a lot to do with theflood risk associated with your property, lifting your home above the BFE recommended for your community is one of the fastest ways to reduce your insurance premium and save hundreds of dollars each year.
After you elevate your home, you can also obtain anElevation Certificate (EC), which not only attests that your home is compliant with your community floodplain management ordinances but also provides a more accurate picture of your home’s flood risk. Although this certificate is required particularly when flood insurance policies are provided through the National Flood Insurance Program, it also helps private carriers determine proper insurance premiums. If you don’t have an EC, an insurance agent may assume that your home is at high risk for flooding and offer you a higher premium. What’s more, a home located in a flood-prone area may not even qualify for private coverage without this certificate.
Besides lifting your home, moving structural utilities, such as the electrical panel, water supply valve, and gas meters, as well as appliances, like the water heater and HVAC system, to your attic or an extra closet located above the BFE could help you lower your insurance premiums even more.
How Home Elevation Can Reduce Your Home Maintenance and Repair Costs
In addition to lowering your insurance premiums, elevating your living space above the BFE can help youprotect your home from flood damage. Although there are different things you can do to reduce the repair costs associated with the potential damage that your home could sustain during a flood, such as replacing carpeting with tiles, floodproofing your crawlspace and foundation, and installing sewer backflow valves to prevent sewer backup, jacking up your home is the most efficient way to prevent completely or at least mitigate the damage due to rising waters and the repair costs that typically result from flood-related damage.
But elevating your living space won’t just prevent floodwaters from entering and damaging your home. House lifting projects also involve afoundation inspection performed by a licensed professional, who will check the structural integrity of each home. If the inspection reveals any structural problems within a home, the contractor will make all the repairs required before raising it. Because fixing structural problems makes your home structurally sound again, house lifting projects often translate into much lower maintenance and repair costs for at least a few years after the elevation. Lower home maintenance and repair costs in addition to lower insurance premiums can save you a great deal of money in the long run.
If your Houston home was affected by a flood in the past, you know what a flood can do. To avoid all the hassle and costs of getting your home back in shape after a flood, get in touch with Allied Foundation today! Our friendly professionals can quickly and accurately estimate the cost of lifting your home based on some basic information and give you all the details you need in order to understand the house lifting process and make an informed decision.
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Do I call a foundation repair company if my house is leaning?
If your house is leaning, it’s crucial to call a foundation repair company. A leaning structure often indicates serious foundation issues that require immediate assessment and repairs to ensure your home’s safety and stability.
Are foundation repairs covered by insurance?
Foundation repairs may or may not be covered by insurance, depending on your specific policy and the cause of the damage. It's essential to check your homeowner's insurance policy or consult your insurance provider for clarification.
Can a foundation always be fixed?
Foundations can often be repaired; however, the specific circumstances and extent of damage will determine the feasibility and cost of repairs. Consulting a professional is essential for a thorough assessment to explore viable solutions.
Do foundation cracks need repair?
Foundation cracks need repair to prevent further damage to your home. Ignoring them can lead to structural issues, water intrusion, and costly repairs down the line. Addressing cracks early ensures your foundation remains stable and safe.
Can foundation cracks be repaired?
Foundation cracks can be repaired effectively. Various methods, such as epoxy injections and piering, are used to restore structural integrity and prevent further damage. Timely repairs are essential to protect your home and maintain its value.
Are foundation repairs tax deductible?
Foundation repairs may be tax deductible if they are necessary for maintaining the property or if they improve the value of your home. It's advisable to consult a tax professional to understand your specific eligibility and requirements.
Does foundation repair decrease home value?
Foundation repair does not decrease home value; in fact, addressing foundation issues proactively can enhance property value and attract potential buyers by ensuring a stable and safe living environment.
Are foundation repairs expensive?
Foundation repairs can be costly, but the expense is often necessary to prevent further damage to your home. The total cost will depend on the severity of the issues and the methods required for repair.
Are contractors needed to repair foundation?
Contractors are essential for repairing a foundation, as they have the expertise and tools necessary to accurately assess the damage and implement appropriate solutions. Professional contractors ensure the repairs are effective and comply with local codes.
Are foundation repairs permanent?
Foundation repairs are designed to be permanent solutions. When properly executed by experienced professionals, these repairs effectively address underlying issues and help maintain the structural integrity of your home over time.
Can foundation repair cause more damage?
Foundation repair can potentially cause more damage if not performed correctly. However, when carried out by qualified professionals, the process is designed to stabilize and protect your home's structure, minimizing any risks of additional issues.
Can foundation be repaired?
The foundation can indeed be repaired. Experienced professionals can assess the issues and implement effective solutions to restore stability and prevent further damage, ensuring the safety and longevity of your home.
Are foundation repairs worth it?
The worth of foundation repairs is significant, as they prevent further structural damage, enhance property value, and ensure the safety of your home. Investing in repairs can save you money in the long run by addressing issues early on.
Are foundation repairs covered by home insurance?
Foundation repairs may be covered by home insurance, but this depends on the cause of the damage and your specific policy. It's essential to review your coverage details and consult with your insurance provider for clarity.
Are foundation repairs covered by homeowners insurance?
Foundation repairs may or may not be covered by homeowners insurance, depending on the cause of the damage. If the foundation issues arise from a covered peril, such as a natural disaster, they are likely to be included in your policy.
Do foundation repairs last?
Foundation repairs can last for many years when performed by professionals, provided that underlying issues are properly addressed and maintained. Regular inspections and maintenance can further ensure the longevity of your foundation repairs.
Does foundation repair increase home value?
Foundation repair can increase home value by addressing structural issues that may deter potential buyers. A stable foundation is essential for safety and market appeal, making it a worthwhile investment for homeowners.
Do foundation repair companies fix leaks?
Foundation repair companies often address leaks as part of their services. They can identify the source of water intrusion and implement solutions to repair foundational issues, preventing further leaks and damage.
What signs indicate foundation issues?
Signs indicating foundation issues include cracks in walls or floors, doors and windows that stick, uneven or sloped floors, gaps around windows and doors, and water pooling near the foundation. Addressing these signs promptly can prevent further damage.
How long do foundation repairs take?
The duration of foundation repairs varies based on the severity of the issues and the methods used. Typically, repairs can take anywhere from a few days to several weeks to complete.
Can DIY methods fix foundation problems?
DIY methods may provide temporary relief for minor foundation issues, but they often lack the effectiveness and durability of professional repairs. For significant problems, it’s best to consult experts to ensure long-lasting solutions.
What causes foundation cracks to develop?
Foundation cracks develop due to various factors, including soil movement, insufficient drainage, and extreme weather conditions. These elements can exert pressure on the foundation, leading to cracks that compromise the structural integrity of a home.
Are structural engineers involved in foundation repairs?
Structural engineers are indeed involved in foundation repairs, as they assess structural integrity, recommend appropriate solutions, and ensure compliance with safety standards during the repair process.
What is the cost range for foundation repairs?
The cost range for foundation repairs varies significantly based on factors such as the type and extent of damage, ranging from $2,000 to $7,000 on average. For specific estimates, it’s best to schedule an assessment.
How can I prevent future foundation issues?
Preventing future foundation issues involves maintaining proper drainage around your home, ensuring gutters are clean, and grading the soil to direct water away from the foundation. Regular inspections and addressing minor repairs promptly can also help avoid major problems.
What techniques are used in foundation lifting?
The techniques used in foundation lifting include slab jacking, piering, and foam injection. These methods effectively raise and stabilize the foundation by addressing the underlying soil issues and providing the necessary support.
Is financing available for foundation repairs?
Financing is available for foundation repairs. At Allied Foundation Repair, we offer various financing options to help homeowners manage the cost of essential foundation services.
What documents are needed for foundation repair estimates?
The documents needed for foundation repair estimates typically include the property deed, any previous inspection reports, photographs of visible issues, and structural plans if available. These help ensure an accurate assessment of the foundation's condition.
How often should foundation inspections occur?
Foundation inspections should occur at least once a year, or more frequently if you notice signs of foundation issues, such as cracks in walls or uneven floors. Regular assessments help prevent severe damage and costly repairs.
What warranties are offered on foundation repairs?
The warranties offered on foundation repairs typically include both a workmanship warranty and a material warranty, ensuring long-term protection for homeowners against defects or issues that may arise post-repair.
