First- time home buyers can often be overwhelmed by their purchasing options. In the excitement of owning a new home, many young people make the mistake of purchasing a house that is in need of major repair based on its price, charm, or locale. This can become a nightmare if they later discover that extensive home foundation repair is needed.
It is wise to always have your home inspected by an expert to determine the severity of any damage that may exist. The cost of an inspector might seem high to a family just starting out, but it is imperative to understand that foundation repair costs and other fees associated with a sub- par structure will normally be far more.
Legally, a seller must disclose foundation damage before selling a home if they are aware that a problem exists. In most cases, a disclosure will be given to a prospective buyer at the time that a home is viewed. It is then up to the new buyer to find an expert to evaluate the severity of the damage if they want to purchase the home.
Many home financing companies will not finance a home with serious foundation issues. Often, a home foundation repair expert will need to be hired to complete the work before closing. This protects the finance company from a loss on their investment and also helps the home buyer to make a wise decision about their purchasing options. In some cases, the “perfect home” is suddenly less perfect once a prospective buyer recognizes the price tag associated with necessary repair work. Foundation repair cost is one of the highest ticket items when it comes to the restoration of an older home.
At the same time, when checking out options for foundation repair, a prospective home buyer should also take a moment to look for any related damage. Collapsed crawl spaces or damaged plumbing and duct work are common. Also, there may be damage done to windows, doors, or walls. Taking inventory of all the repair work that will need to be done even after the foundation cracks are repaired will help give a buyer a greater understanding of what the overall cost of the home will be.
Finally, a prospective home buyer should secure an expert to check a home for any underlying issues that may be causing the foundation damage. Never assume that foundation problems are simply caused by settling of a home or water damage. Sometimes, poor design can be as much a culprit as time and age. Also, outdoor plants can create foundation problems. A large tree that sits too close to the house may have roots that are growing into the foundation creating cracks all along the exterior of the home. While an untrained eye might not recognize the problem, an expert who has worked on home foundation repair for many years will know that the tree is causing the issue and must be removed or else damage will continue.
Home foundation repair is not cheap nor easy, but it is the most important thing a homeowner can do to maintain the value and aesthetic appeal of their home. If you have absolutely fallen in love with a house that needs foundation repair work, don’t rule it out right away- but make sure you know what you’re getting into. If the cost is worth the reward, then go ahead and make the purchase. Just do so with all the information you need to form a plan to make the most out of your new purchase. Happy house hunting!