10 Best Foundation Companies in Olney, IL

On average, Olney homeowners pay about $3,060 for foundation repair, although the total cost will vary widely depending on several factors. The easiest way to estimate the cost of a specific job is to ask for quotes from a handful of local foundation repair companies. Your total cost will be influenced by things like the type of the repair(s) and the size of your house.

The main types of foundation repair are crack repair, leak repair, underpinning, stabilization, and waterproofing.

Crack repair and leak repair are what they sound like: your foundation contractor will perform an inspection and complete any repairs necessary to remedy cracks or leaks. Costs will vary depending on the size and cause of the problem.

Underpinning, also called leveling or piering, is when a contractor levels your foundation by underpinning it with large concrete piers. The amount you can expect to spend depends on how many piers are required. The price of stabilization varies similarly. This process involves fixing bowing walls by reinforcing them with carbon fiber or steel strips. The total cost will depend on the material chosen and how many strips are used.

Lastly, waterproofing is an overarching term for a category of repairs designed to stop water from getting into your foundation or basement. This can involve interior waterproofing, exterior waterproofing, or both, and the price can vary greatly. We recommend contacting a waterproofing specialist if you're planning to waterproof your foundation.

When building a new home, make sure that a soil report is completed. A soil report will contain information about how well the soil on a given piece of land can support a foundation, and can provide you with a heads-up about any potential future issues. If your concerns are about an existing home, for a few hundred dollars, you can get an inspection and report by a structural engineer. They can point you to any things that need attention, and advise you on avoiding future problems.

You also want to make sure that the moisture around your foundation is appropriate. Don't let the soil around your Olney home get too dry or too wet; at different times, you might find yourself having to reroute your gutters or water your foundation. You should also stay vigilant for leaky gutters or pipes and repair them promptly.

Your foundation repair expert should be the one obtaining the permits. You can request that the company provide a detailed explanation of its process and to see the permits and paperwork it has acquired to confirm everything is properly authorized per Olney regulations.

Sometimes, foundation repairs can be considered capital improvements if they meet the criteria of an improvement that will add to a home's overall market value, prolong its life, or adapt it to new uses. In some cases, making capital improvements allows you to qualify for tax breaks. (Contact your Illinois tax professional for the most accurate information.) Even if you don't qualify for tax breaks, foundation repairs will generally have a positive effect on the value of your home.

We recommend that you do not put off a foundation repair project. A seemingly small issue may have an underlying cause that could potentially result in future problems, and it's better to get ahead of the issue as soon as possible. A small and moderately costly problem now could become a large and expensive one in the future if the signs are ignored.