Your foundation is a critical part of your home. It’s the base that holds everything together and keeps your entire home stable.
Unfortunately, a typical homeowner will experience foundation settlement and other structural damage as their home ages. We briefly examine how foundation problems can impact buying and selling a home.
Will foundation problems affect a sale?
You can sell a home with structural problems, but you’ll most likely sell your home for more money if you make all the necessary repairs. According to Home Advisor, “Most homeowners will pay around $4,072 to repair foundation issues.” All things considered, this is a small price to pay—especially because you might have to significantly reduce your asking price if you don’t make any repairs.
You should fix any foundation issues a home inspector finds, and then sell your home. If you choose to bite the bullet and sell your home with said issues, you must let the buyer know. You’re legally obligated to disclose this information.
You may feel tempted to fill any cracks and gaps on your own. However, don’t repair anything yourself—call a reputable foundation repair company instead. Some of the imperfections you see might be more than cosmetic—they could be serious structural problems. Certified professionals will properly address any issues, which will save you money and increase your home’s value.
Should I purchase a home with foundation problems?
If you plan to buy a home, request a report from a trusted home inspector. If you agree to purchase a home that has foundation issues, have your local professionals repair them as soon as possible; issues that go untreated will only get worse over time and cost more in the long run.
Ultimately, foundation problems can raise red flags, but they aren’t necessarily deal breakers. These issues require your attention, but they shouldn’t affect your decision to buy a home. If the foundation is the only thing holding you back, see if you can determine their severity as well as your available repair options. Your local foundation repair company can give you an estimate, and they can also provide you with warranty information. Structural issues should be cause for concern, but they shouldn’t scare you—especially if you know that you can hire a dependable team to fix them. Once you alleviate these problems, you can enjoy your new home!