When is it Time to Walk Away From a Home With Structural Issues?

Large crack in a home's foundation
Large crack in a home's foundation

Would you build a home on sinking sand? Ideally, no! You want to make sure your house has a firm foundation! Now imagine you’re thinking of buying a home, but it has “structural issues.” Should you buy it or walk away?

Signs You Should Walk Away From Buying a Home With Structural Issues

A home’s foundation gives it a level and stable ground to rest on– it’s the load-bearing center of the home. A solid foundation is essential– otherwise you’ve got a tipsy, potentially collapsing house. The foundation also provides insulation from ever-changing temperatures as well as groundwater. So, as you’d imagine, it’s important, right? If you’re told that the house you want to buy has a crack in its foundation, or the house is “settling and sinking,” do you really want to take on that headache?

It’s probably best to walk away from a home with structural/foundation issues. Those issues are a safety risk and costly to repair.

How might you know a house has problems like foundation issues? A professional home inspection can be done before you sign a contract. A company like Cornerstone Home Inspections of Warren, New Jersey, can assess the situation so you know exactly what issues you’d face if you buy the place. Call Cornerstone Home Inspections at 1-800-648-6187 for more information.

Now if you do go ahead and buy a house with foundation issues, you might want to hire a structural engineer to further assess the damage and figure out the repair work needed. You might want to negotiate with the seller in order to figure out whether they’ll cover the costs of repairs or not. Foundation repairs usually run about $5,000 – $10,000. They take time, so if you thought you wanted a house that’s “move-in ready,” expect to wait a while before you actually move into the place. Finally, keep in mind that a house with foundation issues could be a deal-breaker if you’re trying to use a government-backed loan.

Ideally, if a home has structural/foundation issues, walk away– don’t buy it!