The average cost of building a home’s foundation in the U.S. amounts to almost $7,930, although you may spend between $3,900 and $12,000.
Take note that the price you pay for building a foundation will be different from the cost of repairs. Concrete foundation repair in Denver may require you to spend more or less than when you pay for it in other cities.
The type of materials you use for the foundation will be a major factor for expenses. Concrete slabs cost between $4,500 and $21,000, while pier and beam foundation may require you to spend between $8,000 and $15,000 on average. Basement foundations often cost the most with costs ranging from $10,000 and $175,000, yet they could provide the best returns on investment.
Homeowners should be aware that a deeper foundation would mostly entail a larger budget, due to the need for more materials and labor. If you only need to replace a damaged part of the foundation, the usual price ranges from $450 to $11,000, although homeowners normally spend roughly $4,000 for repairs or replacement.
When planning a budget for a concrete foundation, consider a structure that will help you be prepared for earthquakes. According to the U.S. Geological Survey, an estimated 500,000 detectable earthquakes take place in the world each year.
The West Coast in the U.S. remains more vulnerable than any other part of the country. However, that does not mean that earthquakes are unlikely to hit other states in the eastern seaboard. You should ask your contractor or a structural engineer how they could develop a concept that considers earthquakes.
The type of materials, scope of work and labor are some of the most common price indicators for building a foundation. How much are you willing to spend for this?