How to Budget for Foundation Repair Costs for My Business

Breaking down the possible expenses for a solid foundation repair can be a daunting task for any business owner. After all, you’re looking at what can be a handful of costly repairs that definitely won’t be gentle on your wallet. Even though most property owners are aware that repairing and maintaining your foundation is a necessity, it doesn’t make the frustration of spending money any less bothersome.

Let’s go about this the right way: What you need is a careful examination of your foundation problems, a clear understanding of the services you’ll need to address these problems, and an experienced professional to assist you through it all.

Powerlift Foundation Repair offers a wide range of foundation repair services to residential and commercial property owners. Over the years, we’ve gained valuable experience and expertise in the field, allowing us to have a comprehensive understanding of the various processes from start to finish.

We’re eager to share our insights and walk you through the practical steps and considerations to help you prepare and budget for your repairs.

Analyze the Complexity of the Problem

foundation repairs by professionals

We will give you the estimated costs of repair projects, but ultimately, it all depends on the severity of your foundation damage. To pinpoint whether you need to prepare a few hundred dollars or a few thousand, it’s essential to know the specifics. Inspecting your property can give you an idea of what kind of issues you’re dealing with; it’s the first step to finding a permanent solution to your issues and eventually reinforcing your business’s structural integrity.

For instance, the foundation repair method will vary between property owners with extensive damage in their concrete slab foundation compared to those who only require basic repairs or a sump pump installation in their basement due to a poor drainage system.

Another example is the different expenses of someone with a severe case of a shifting foundation compared to those with minor cracks in their foundation walls. Be sure to determine the root cause of your foundation problem so it will be much easier to come up with an estimated cost to repair it.

To make things easier, we’ve put together a quick overview outlining the potential severity of repairs you might encounter while inspecting your foundation:

Minor Repairs

Minor issues include small cracks along your walls and floors, slight unevenness of sloping in floors, minor gaps around your doors or windows, and minimal leaks in your basement foundation or crawl spaces. Generally, minor issues like these can be resolved relatively easily and at a lower cost.

Moderate Repairs

Problems that may require a moderate repair method include wall cracks wider than 1/8 inch, misaligned doors and windows, bowing floors and walls, and noticeable water intrusion in your basement or crawl space. While moderate issues may require more extensive repairs compared to minor ones, they can be addressed efficiently without necessarily racking up expensive costs.

Major Repairs

These issues require prompt action: large, diagonal cracks or wide, horizontal cracks in the foundation or walls, a severe settling or sinking foundation, water damage and mold growth, and, in extreme cases, the complete failure of entire foundation parts, such as a crumbling foundation that could lead to structural collapse. These issues usually require more complex and comprehensive methods, which could translate to more significant expenses.

A General Overview: How Much Does Foundation Repair Cost?

the cost of foundation repair

Let’s start by tackling the big question: What makes a repair project for a foundation cost so much? There’s a list of different factors you should consider and keep in mind when budgeting for costs.

According to Forbes Home, the cost of repairing a foundation in 2024 ranges from $200 to $52,000, with an average cost of $5,400. That’s quite a broad range, so let’s break it down:

Type of Issue

For starters, the exact nature of your foundation problems also affects how much money you’ll have to spend on repairs. This includes matters like foundation cracks, leaks, bowing walls, foundation sinking, shifting, settling, or even the total replacement of your foundation. Ultimately, the overall cost of foundation repair projects depends on the severity of the issues that need to be addressed.

  • Foundation crack repair costs: $35-$1,000
  • Foundation leak repair costs: $2,000-$7,300
  • Sinking foundation repair costs: $5,300-$17,000
  • Curved wall repair costs: $4,300-13,000
  • Complete foundation replacement costs: $20,000-$100,000

Type of Foundation Repairs

a foundation under construction

The type of foundation your property has can affect your costs. Whether you’ve got a slab-on-grade foundation, a crawlspace, a basement, or a pier and beam foundation, each type comes with its own set of repair methods with varying price tags.

  • Concrete foundation reinforcement costs: $4,300-$13,000
  • Mud jacking or concrete leveling costs: $3-$20 per square foot

Additional Expenses: Necessary Labor, Permits, and Materials

Lastly, on top of addressing the foundation problems themselves, there are additional factors to remember like labor costs, permits, and expensive materials like carbon fiber or steel reinforcement strips. Make sure to factor in these expenses when you plan your budget for your foundation repair project.

  • Labor costs: $45-$200 per hour
  • Materials costs: $1,000-$10,000

When Should You Hire a Foundation Repair Contractor?

hiring a foundation repair professional

Consider contacting a professional when you notice signs of foundation issues. Aside from the fact that promptly addressing your foundation problems can keep the issues from escalating, you can also get an estimate from a contractor by understanding the scope of work required and the associated costs. Even if you’re not sure if you really need repairs, speaking with a professional can give you clarity and peace of mind.

The Bottom Line

Your business’s foundation requires constant maintenance and repair to be able to function properly. Issues like cracks in the walls, doors, and windows that won’t shut properly, and uneven floors can escalate and worsen over time if left unchecked. So, when your foundation starts to show signs of wear and tear, make sure to reach out to foundation repair companies that can address your specific needs. They’ll get your foundation repair work on the road and restore it to its previous glory!

A thorough inspection from a trusted professional or an assessment from a structural engineer can help you get an estimate of your repair expenses. They can help you assess the situation and steer you in the right direction toward the necessary steps to ensure the health, stability, and integrity of your foundation.

Foundation Problems Specific to the Southwest Area

In the Southwest, foundation issues are a common headache for homeowners and business owners alike. The culprit? Our clay soil is prone to expanding and contracting depending on the weather. Whether it’s summer or winter, scorching heat and relentless rain impact the soil, resulting in foundation settlement, excess moisture, clogged drainage systems, and cracks in the foundation, among others.

Call Us for a Free Foundation Inspection!

Do you need an estimate for your foundation repair cost? Contact Powerlift Foundation Repair for a free quote! We know the Southwest areas like the back of our hands, so whether you need repairs for your business’s foundation or your business properties, we’ve got your back. We’re here to offer you services tailored to your needs at fair, affordable prices.