5 Big ticket purchases
Any property- physically distressed or brand new and anything in between- will have 5 big ticket purchases that Reel Property Solutions, LLC will look over when determining the cost of repairs for a house. Why these are classified as 5 big ticket purchases is just that. Money. Lots of money is usually needed to repair or replace these areas. Below will explain in more depth an overview of costs. For specific current day costs to your own home or a property thinking about purchasing, contact a local professional for more information.
The foundation on the human body is the feet. Image having a broken foot- a person will be lopsided trying to balance with some sort of support like crutches. If the foundation on a house is broken, the house will also become lopsided. Unlike humans who can quickly determine a broken foot, most times the signs of a broken foundation on a house are gradual before noticing significant damage. Doors may not shut properly since the house may have shifted. The concrete may crack and shift. Cracks may develop on the walls. Whatever the case, a bad foundation is in the top 5 big ticket purchases. The foundation itself needs to be addressed. 
The other visible damages need to be addressed. The unknown reasons for the bad foundation need to be investigated. For example, a bad foundation may be the result of not enough support under the concrete during construction. Perhaps that foundation needs to be ripped out, better supports in place then the foundation put back together. Think giant construction equipment of bulldozers, concrete trucks, manual labor, etc. This is all a huge undertaking with a substantial price tag most likely in the tens of thousands of dollars, too.
Onto the opposite part of the house, the roof is another of the 5 big ticket purchases. What’s seen on the outside is shingles, perhaps a metal roof, chimney, gutters, and maybe solar panels or a sky light. Underneath is a lot of wood, insulation, and metal brackets, nails and screws holding it together. Over time shingles will get beaten up by rain and wind. Shingles may crack, peel, be torn off during intense wind, or somehow be damaged. Then rain can soak into the underlying plywood which can leak into the insulation. Now the damages are becoming more costly. Insulation may become moldy which the domino effect here is mold spreads causing health concerns. Mold needs to be cleaned up. Insulation needs to be replaced. Sheeting needs to be replaced. 
Shingles need to be replaced. Just like with the foundation repairs, this is all a huge undertaking with a substantial price tag most likely in the tens of thousands of dollars, too.
Windows can also be quite expensive to replace. Depending on the age of the house, size, shape, and if a window is going to be closed off, added in, or otherwise changed, these are reasons for this category being one of the 5 big ticket purchases. 
When a foundation settles, one sign could be look at a window. Is there a diagonal crack from any of the corners of any of the windows? When a roof is bad, moisture can travel down the wall to the window to cause decay. What if a bird flies into a window causing a break? Now this can be dangerous with the weakened area that could cause the glass to explode out. Again, just as with the foundation and roof, this is all a huge undertaking with a substantial price tag most likely in the tens of thousands of dollars, too.
Electricity is typically a highly used utility. Lights, internet, appliances, TV, the list goes on and on of what is powered by electricity. Ever had a power outage? It can be a nerve-wracking experience! But what if the power outage is due to old wiring? This can be a dangerous situation since wires can easily overheat, melt, and cause a fire. What if a wire is faulty causing a current surge to run through an appliance then a surge of electricity through a person’s body (AKA electrocution).
These are a few reasons why a house would need to be rewired. That means removing the old wire, installing the new wire, and then cleaning up the mess which is the plaster (in old homes) or sheetrock in modern day homes and replacing all that. If a fuse box was the electrical box, then a circuit breaker should be installed. Again, just as with the foundation, roof, and windows, this is all a huge undertaking with a substantial price tag most likely in the tens of thousands of dollars, too.
Landscape at a house can be as much or little as the homeowner wants it to be. Regular mowing, trimming bushes around the house, and planting pretty flower beds can be a low maintenance project. However, landscape can quickly increase in cost when trees need to be cut down, a yard is redone, or if a house is sustaining damage due to landscape issues.
These are why landscape is one of the 5 big ticket purchases. Rotted trees are dangerous to keep standing; they are dangerous to cut down. Can’t win for losing here! When a tree decays, the tree isn’t strong enough to hold itself upright which creates cracking, tilting, and maybe eventually falling. Tree branches can crash through windows. Another real estate investor friend of ours had a rotten tree fall onto a house which literally ripped off the corner of the house! Talk about mega damage which meant the current occupants could not live there until the house was repaired. When a yard has overgrown weeds or needs to be refreshed, the old landscape is dug up then prepped for the new landscape for new plants. This can add up fast! At times tree roots grow into the foundation of a house. This may cause cracking, bowing, or settling of the foundation that would need to be repaired for a safe house to live. Again, just as with the foundation, roof, windows, and electricity, this is all a huge undertaking with a substantial price tag most likely in the tens of thousands of dollars, too.
When Reel Property Solutions, LLC assess properties, these are some of the things we keep in mind for what could be the source of problems and costs. Keep in mind every house is unique, therefore, one house may have 1 cracked window that needs to be replaced. Yet the identical house next door may have sustained damage that caused all the windows to be replaced. Always keep in mind where you live depends on the cost of repairs. If a roofing company is back logged due to a tornado just gone through an area, the cost of labor may be higher due to the complex repairs and demand from other homeowners who have similar issues. If a roof needs a routine shingle replacement, this cost could be lesser. Again, always check with your local professionals for whatever the situation is.
Reel Property Solutions, LLC receives ongoing real estate education since Rochelle is a licensed real estate agent with eXp Realty. In addition, more education comes from Fortune Builders which also has in depth training and forms to help guide us when assessing repairs and general costs. Most of all, experience is the best resource. Contact us to help you with any questions about your property.
Reel Property Solutions, LLC brokered by eXp Realty can assist if you want to list your property, complete a private transaction, or if you have questions about what to do. We are here for you. No matter what the situation, everyone involved must be in a WIN-WIN situation.
That is why our motto is CATCH A WINNER!
507-218-8788 or info@reelpropertysolutionsllc.com
507-358-0638 or rochelle.markov@exprealty.com
