Unseen Expenses: How Water Leaks Drain Your Wallet

How Water Leaks Drain Your Wallet

 

Water leaks are a huge problem in modern homes. They can undermine the structural integrity of your building while simultaneously taking money out of your pocket, says Rent Pros Team. This problem threatens your three most valued possessions: health, family, and home.

 

Water leaks often persist in homes because homeowners do not know of their existence or underestimate the impact of a leak. But whether a leak is known or hidden, it will affect your finances, health, and home.

 

Impact of water leaks on your home and wallet

 

Structural damage

Water leaks are the leading cause of foundation damage in American homes. Leaks that discharge water into the base of a building can undermine its structural integrity in no time. Structural damage is a common outcome of water leaks inside your walls and basements or in your main water line.

 

Health impact of water leaks

The main issue is the risk of mold sickness and waterborne diseases. A broken water pipe can easily contaminate your home’s water supply. Leaks also help to create the ideal environment for the growth of mold and the proliferation of pests. Mold and pests pose a serious risk to your well-being and your family.

 

The financial cost of water damage

The insurance industry in the USA reports that yearly, around $2.5 billion (or $7,000/household) is paid out in insurance claims relating to water damage. In addition to the non-financial costs of the problems, homeowners spend between $3,500 and $25,000, on average, for each incident of water damage.

 

Impact on home value

Water damage drives down the value of properties. Even if the damage is fixed, as long as the incident remains on the home’s repair records, prospective buyers will often be scared to buy the property. The impact is worse if the water leak has resulted in structural damage to the building.

 

Common hidden or neglected leaks in homes

 

Here are examples of the most hard-to-find water leaks in homes and the water leaks that homeowners often tend to ignore.

 

Toilet leaks

An overflowing toilet is one of the most common leaks in homes. It is often ignored because it doesn’t immediately threaten the building. That is why 20% – 35% of homes have this very costly problem.

 

Dripping faucets

A dripping faucet is another oft-neglected plumbing issue. Like an overflowing toilet, this problem wastes an unbelievable amount of water. One leaky faucet can waste 11 gallons of water/day (330/month) or as much as 2,082 gallons/year.

 

Leaks under the sink

The area directly under the sink is a common site for hidden leaks because it hosts a lot of pipes and pipe connections. These leaks may be due to shifting water lines, clogged drains, loose/corroded connections, worn-out/damaged seals or gaskets, etc.

 

Leaks inside the walls

A significant portion of a home’s water lines are found inside its walls, floors, or ceilings. If these pipes leak but the problem is not known immediately, they can secretly discharge water into the walls and floors of the home, causing major structural damage.

 

Leaks in home appliances

Hidden water leaks often happen in the drain lines, hoses, and connections of the water-utilizing appliances in the home. These problems are common with washing machines, refrigerators, dishwashers, and traditional water heaters.

 

Leaks in the main water line

In addition to damaging your landscaping and inflating your water bills, a leak in your main water line can undermine your building foundation. That is one of the most devastating hidden leaks that can happen in your home.

 

Basement and crawlspaces leak

Because they are seldom visited, leaks in these areas can go on for a long time without being detected. Because they are directly above the foundation, basement, and crawlspace leaks can undermine your home’s structural integrity.

 

high water bill
If your water bill is going up but your water usage pattern has not changed, and the utility company has not increased its charges, you may be having a leak.


Signs of hidden water leaks in your home

 

To know if you have hidden leaks in your home, look out for the following signs:

 

Strange spikes in your water bill

If your water bill is going up but your water usage pattern has not changed, and the utility company has not increased its charges, you may be having a leak.

 

Blistered/peeling paint or wallpaper

A hidden leak discharging water into one of your walls will cause wallpaper and paint to blister or peel.

 

Watermarks on walls and ceilings

Water can seep into the surface of walls and ceilings through hidden leaks, leaving them with discolored patches.

 

Musty odors in the home

This is a telltale sign of mold and mildew. If mold and mildew are growing inside your home, it is probably because of a nearby leak.

 

How do you find the hidden water leaks in your home?

 

If you think you have hidden leaks in your home, a quick response can help you limit the impact of the problem on your health, home, and finances. The best way to solve the problem is to have a professional plumber, or leak detection service, inspect your home’s plumbing systems.

 

Professional leak detection services use advanced tools and methods that make it easy to find the most insidious hidden leaks in your house.