Should You Buy a Home that Needs Foundation Repair?

Does your dream home need foundation repair?

Should You Buy a Home that Needs Foundation Repair?

Most potential buyers steer clear of homes that have foundation damage, as they fear that fixing the problem will be costly. In some cases, buyers are right to forego the purchase – but not always. Under the right circumstances, buying a home that needs foundation repair may be a wise investment.  

Why You Should Consider Buying a Home with Foundation Damage

Why would anyone buy a house that needs foundation repair? Two reasons: reduced cost and the ability to oversee the repairs that restore structural stability. 

If you agree to purchase a home that has existing foundation damage, you’ll likely enjoy significant cost savings. You may even be able to get your dream home for a fraction of the price, even after you add in the cost of repair work. Few buyers are willing to take on this challenge and sellers are often grateful to find a ready, willing and able buyer.

If you buy a home with existing damage, you’ll be in control of the repair. You can choose the best local foundation contractor, ensuring that your home will remain stable and secure for many years to come. 

What to Do Before Committing to the Home Purchase

Unfortunately, not every home with foundation damage is a wise investment. Before signing on the dotted line, you need to know what you’re getting into, in terms of foundation repair cost.

To determine the cost of repairs, schedule a consultation with a professional foundation contractor. Without an in-person inspection, no contractor can accurately estimate the cost. Don’t forget to factor in the costs of fixing other foundation-related damage to the home, such as wall cracks, shifted plumbing lines, problematic drainage systems and landscaping issues.

Once you know the estimated repair price, you can use the information as a negotiating point when submitting an offer on the home. 

Why Prompt Foundation Repair Is Essential

If you decide to go ahead and buy your dream home despite the foundation damage, make sure to have the repair work done as soon as possible. While you might think you can wait a year or two before investing in repairs, doing so could be a costly mistake.

Left unrepaired, a relatively small foundation problem can grow into a much bigger problem and, the greater the damage, the more you’ll have to pay to get it fixed. So, don’t commit to the home purchase unless you are prepared to have the repairs completed immediately after closing.

If your Utah, Nevada or Wyoming dream home has foundation damage, consult with the trusted foundation repair contractors at Atlas Piers.

With more than 25 years of experience, the Atlas Piers team can provide you with an expert structural damage assessment and estimate to restore your dream home’s stability. To find out if that house you love is worth buying, contact us today to schedule your foundation repair consultation.

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