The Dangers Of Buying A House With Foundation Issues
Our Trusted team at K & S Contracting specializes in foundation repair for homeowners across Saskatchewan, but we also offer general contracting services to Saskatoon and surrounding area. In our latest article we share the dangers of buying a house with foundation issues.
The Dangers Of Buying A House With Foundation Issues
Finding the perfect home can take months of searching. When you finally find the one for you, discovering foundation issues during the inspection stage can be devastating. If you decide to proceed with the purchase anyway, there are dangers and risks that you will take on.
You May Need Different Financing
When you buy a house with foundation issues, different financing may be required. Depending on your lender, they may require that the home is structurally sound in order to grant you the financing. If your lender decides to grant financing for a home with foundation issues, you may be required to provide a larger down payment or be subject to higher interest rates.
Cost Of Repairing The Foundation
Foundation cracks that are more than ¼ inch wide require repair. Though cracks can be sealed through patching, patching does not address the root cause of the crack. Addressing the root cause of the crack could be as simple as replacing the gutters and downspouts, and grading the property around the home so that the ground slopes away from the foundation, or as major as rebuilding a portion of, or the entire foundation. Rebuilding part of the foundation can cost tens of thousands of dollars, and $100,000 or more for an entire foundation replacement.
Cost Of Repairing Related Damage
Issues with the foundation of a home indicate that there are problems elsewhere. Buying a house with foundation issues entails more repairs down the road. When a foundation is not level and sturdy, other issues ensue such as cracks in drywall, crooked windows and doors, broken tiles, and inevitably damaged floors. Even once a home’s foundation is repaired, these related issues will need to be fixed. This requires the work of a contractor which means additional money coming out of your pocket.
It Could Go Deeper Than The Foundation
Although they can often be fixed, foundation issues are not a minor problem. However, a major danger of buying a house with foundation issues is discovering that although the foundation was properly constructed, the ground underneath is shifting. Prior to building a house, a soil test is necessary, particularly when building in certain areas of Saskatchewan.
Although foundation issues can be dealt with, the cost, time, and stress involved may not be worth it. Before purchasing a house with foundation issues, understanding the dangers is crucial. Because the average home inspector is not a foundation expert, always hire a structural engineer to inspect the property so you are aware of all the work that is required.
K & S Contracting are Saskatoon’s Trusted Contractor for Foundations and foundation repairs.
“We will get you back on solid ground!”
At K & S Contracting we specialize in foundation repair for homeowners across Saskatchewan, but we also offer contracting services to Saskatoon and surrounding area including: