If repairs need to be made around your home, taking the cheap option could be an expensive mistake. In particular, don’t skimp on anything related to leaking water and water damage, said Justin Pritchard, a certified financial planner.
“Water can cause rot and mold, and fixing those problems gets expensive,” said Pritchard, who has first-hand experience dealing with water damage in his home. “In addition to fixing whatever gets damaged by water, you’ll need to replace drywall, repaint and pay other finishing costs.” If you ignore the problems, it could be hard to sell your home down the line.
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