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I'm considering purchasing a house to renovate and resell that has a foundation crack on one side of the house. The rest seems okay. Great price, great neighborhood, so I'm really interested. However, I have never as a buyer been willing to purchase a house that had had foundation repairs and I would, of course, have to disclose it. What do y'all think? Bad idea to renovate a house that needs foundation work?
I have been to Dallas and I recall that most homes were not built with basements. I believe the explanation was that many area had a kind of soil that placed excessive pressure on a deep basement due to the extreme changes that can occur during the driest seasons.
If that sort of issue is what caused your foundation problem my concern would be that even a well executed repair might not beable to address the underlying soil issues.
If you can hire an expert that can diagnose the problem you might better be able to understand the potential to truly fix it...
I'm considering purchasing a house to renovate and resell that has a foundation crack on one side of the house. The rest seems okay. Great price, great neighborhood, so I'm really interested. However, I have never as a buyer been willing to purchase a house that had had foundation repairs and I would, of course, have to disclose it. What do y'all think? Bad idea to renovate a house that needs foundation work?
To answer your question, no not a bad idea if you are buying the home for a good price. I perform inspections for many investors and always run into foundation issues from minor to major. Almost all foundation issues can be repaired and many times piering performed properly will last a long time. I also inspect many homes for buyers that are buying homes with prior foundation issues (flips and regular resales). As long as the work was properly performed it does not appear to kill their purchase decision.
Good luck on the flip.
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