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Old 04-07-2009, 04:46 PM
 
10 posts, read 33,129 times
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We are interested in a house that has had its foundation repaired. (Yes, it does have a lifetime transferable warranty, with restrictions.) According to the internet, foundation problems, even when repaired, do affect the final sales price. (Homes with foundation problems, even when repaired, sell for less than comps.) Is that true here in Austin, where I am told that most older slab homes (60s and 70s and 80s) have foundation issues. If so, by what percentage would a repaired foundation affect the purchase price? Would you buy a home that has a repaired slab, or simply wait for one without issues.

Thanks!!
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Old 04-07-2009, 09:23 PM
 
648 posts, read 1,957,815 times
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Depends how unique the property is. Hard to say.
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Old 04-07-2009, 10:29 PM
 
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I found this link interesting. It is about foundation questions and answers.


http://www.atkinsonusa.com/faq.html (broken link)
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Old 04-09-2009, 07:41 PM
 
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Thanks!
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Old 05-03-2010, 08:28 PM
 
Location: Corvallis, Oregon
653 posts, read 1,788,280 times
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According to my Realtor, almost all of the homes that back up to the greenway (in this area, wellbranch) have had foundation repair.
When these houses show up for sale, they tend to sell very fast, and I am not noticing that they are cheaper than houses that do not back up to the greenway.
So the advantages of backing up to the greenway must mean more than the disadvantages of having had foundation repair done :-)
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Old 05-03-2010, 09:33 PM
 
Location: Austin
7,244 posts, read 21,709,953 times
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Having foundation work done is an "improvement" and thus can actually add value. A house with piers underneath the post tension cable slab is going to be a stronger structure than one without. I've not noticed houses selling for less. The work has been completed, is under warranty, and is not work that has been put off for a new home owner.
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Old 05-03-2010, 11:35 PM
 
10,130 posts, read 19,799,323 times
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Quote:
Originally Posted by FalconheadWest View Post
Having foundation work done is an "improvement" and thus can actually add value. A house with piers underneath the post tension cable slab is going to be a stronger structure than one without. I've not noticed houses selling for less. The work has been completed, is under warranty, and is not work that has been put off for a new home owner.
I disagree. A repaired foundation means there was a defect in initial construction; even in tough conditions with lots of clay, it's still possible to build a sound foundation. Foundation work may not hurt the value *too much* if it's common in the area to have defective foundations. But it isn't an improvement. It's a repair of a defect. Maybe a very lasting, necessary repair, but still a repair.
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Old 05-04-2010, 12:58 PM
 
2,627 posts, read 6,550,395 times
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I was raised to never touch a house that has any history of foundation problems. There are enough homes out there that I can just find another one. In my eyes it's like buying a used car that has an accident show up on the Carfax. I can just move on to another one. It might be fine, but the issue might come back. It's not worth the headache to me when there is a ton of inventory out there.
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Old 05-04-2010, 02:46 PM
 
Location: SW Austin & Wimberley
6,330 posts, read 17,988,872 times
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Quote:
Originally Posted by atxcio View Post
I disagree. A repaired foundation means there was a defect in initial construction; even in tough conditions with lots of clay, it's still possible to build a sound foundation. Foundation work may not hurt the value *too much* if it's common in the area to have defective foundations. But it isn't an improvement. It's a repair of a defect. Maybe a very lasting, necessary repair, but still a repair.
I think it goes both ways, but I tend to agree with the above more often than not.

Homes we sell with foundation repair history always generate a bunch of extra questions and conversation. Those questions are always related to fear and apprehension of the buyer. Houses that scare buyers don't sell for premiums. It's never a good thing when a buyer has more things to worry and wonder about.

As a listing agent, I like my odds better with a house with no problems over one with a foundation repair and tons of documentation. So would most buyers. No buyer has ever read a listing comment that says "foundation repaired in 2008" and exclaimed, "Oh good!"

Steve
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Old 05-05-2010, 07:17 AM
 
1,430 posts, read 2,364,044 times
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Depends on the house...I don't think any buyer will be scared off because you replaced the 90 year old cedar posts with concrete piers in your central Austin bungalow!
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