When a home needs foundation repairs a homeowner needs to find a reputable and experienced company to fix this problem. There are many construction companies that specialize in fixing foundation issues who are licensed, bonded, and insured. You will want to find a great company because the foundation of your home is what the entire structure rests on. The entire home can be impacted when things go wrong.
Things To Consider For Those Buying Or Selling A Home With Foundation Issues
There really isn’t such a thing as a “small foundation issue” as this article on Trulia shares. Something might not look like a big deal but the integrity of the entire structure can be comprised by some small foundation issue. Tiny cracks at the corner of a foundation, for instance, may just be an outward sign that there’s a really big problem that can’t be seen so easily.
Getting a foundation repaired isn’t for DIY-ers. A home inspector or structural engineer should be called in to give their professional opinion on the matter. If your mortgage or insurance company is aware of the problem, they will likely want this type of documentation in order to be sure that the damage was correctly taken care of.
People buying a home with foundation problems should know going in they may find getting a mortgage or insurance can be difficult. You might not qualify for government-backed loans as they require that a home is free of major defects. Sellers with a home in this condition will probably need to make some big concessions unless they get the damage to the foundation repaired.
The Cost Of Repairing A Foundation
The average homeowner spends just over $4,000 getting their foundation repaired. If the damage is major, requiring the home to be lifted using hydraulic piers, that can cost more than $10,000. If it turns out to just be minor cracks that one of the foundation repair companies can patch that could cost around just $250.
This article provides an overview of what the cost can be depending on the type of foundation, the materials involves, and what type of foundation damage has occurred. Even small cracks should be repaired because they let water in under the house which can lead to mold and other issues. The water over time can also expand the cracks and lead to further big-ticket repairs.
If water is leaking in under the home than you likely have a big drainage issue where water isn’t draining away from the home. In addition to fixing the foundation, you will need to have waterproofing techniques installed under your home and address the issue of your downspouts and landscape not routing water away. The most expensive foundation issues to fix involve homes with basements. A basement can settle and sink which can lead to leaks, cracks, and bowing foundation walls. If you don’t fix the situation water can cause huge damage to the structure and your property. It’s important to take care of the situation right away as waiting can amplify the costs of the repairs.