Foundation Question
I'm a newbie and love the prospect of self-employment. I was looking at a home for a very good price, but was warned about significant foundation damage. The foundation is a stone/mortar combination. When I looked I saw minor cracks. Nevertheless, a friend who has been in the business said run, don't walk away from foundation problems unless the house is priced where you can still make money if the house is a total loss. Has anyone had experience with this or have any opinion?
Thanks,
Gerry
When you say minor, how minor are they (are they surface cracks- or do they go all the way through)? How old is the home?
If it's cracked all the way through...badbadbad, hopefully someone here has more experience with that.
If they are surface cracks, they aren't anything to worry about - all the new homes in FL get poured, and a week later they put up walls, if that. I can't tell you how many of those homes' foundations have cracks all over the place only a year later - but supposedly they are only surface and nothing to worry about.
Being a newbie you have about 1000 things to learn. Dealing with houses with foundation issues is probably down the list around the number 700. I would tackle the easier things first. Because if you tackle a house with foundation problems you still have issues 1-600 to deal with along with the foundation problems, and you don't know how to deal with the first 600 yet. So crawl before you walk and walk before you run. After you have most of the other issues figured out and experienced is then the time to start pushing your comfort zone and experience level, not right at the start.
i agree with rehabbinator. its good advice. i've done several rehabb., even with foundation problems. i will not do one again. there are to any good deals without all the "drama"......km