What to Consider about Buying a House with Foundation Problems

If a foundation problem is detected in a prospective home, do not assume it’s something that can be solved independently once the sale is complete.

Though it’s not always given much thought, the foundation is critical to the home’s integrity. When going through the process of buying a home, it’s essential to look at the foundation to assess its condition. Any damage or potential problems with the foundation is a serious cause for concern.

What constitutes a foundation problem

Many homeowners may not know what a foundation problem even looks like. These problems appear in various ways—the most common being cracks, water seepage, and leaning walls.

While some problems may seem more severe than others, it’s important not to underestimate even the most minor of symptoms. Though small cracks or leaks may appear insignificant, they are signs of a much more severe situation. Having these issues closely inspected by a foundation repair expert who can diagnose the situation is essential.

Foundation problems aren’t for DIY-ers

If a foundation problem is detected in a prospective home, do not assume it’s something that can be solved independently once the sale is complete. DIY foundation repairs often lead to more significant problems later on. A DIY fix is like sticking a band-aid on a large wound; it temporarily keeps the symptoms at bay but doesn’t completely solve the problem. Often, it’s essential to address the root of the issue immediately; otherwise, time and money are wasted.

Plan for cost

Foundation repairs can be expensive—mainly if a more significant issue occurs. While a simple crack repair may be inexpensive and easy to fix, expensive repairs are likely necessary if the crack is caused by a more significant problem. If this is the case, it may be best to negotiate a lower price to compensate for this cost or walk away entirely from the home purchase.

Additionally, find out whether or not the bank is willing to provide a loan for a house with a foundation problem, as these issues may cause ineligibility for certain types of financing, which require that the home be structurally sound.

When purchasing a home with foundation issues, bargain the cost to compensate for these expenses, and always keep the foreseen investment cost private to bring the sale price as low as possible. Once the deal has been closed, do not wait; repair all foundation issues immediately.

Choose wisely

Potential buyers have to weigh the pros and cons of whether or not purchasing a home with foundation problems may lead to more headaches than it’s worth. Working with a foundation repair expert who can assess the situation provides a better idea of the cost and best methods to achieve quality, long-lasting repairs.

Accurate Builders of the Chesapeake provide foundation, basement, and crawlspace installation and repair for the greater Baltimore area homeowners.