Realtors in Maryland, Washington, DC, and Northern Virginia are busy this time of year. People are selling and buying homes as summer is around the corner. ***
So, if you are planning to buy a home, you may ask: Should I buy it if it has structural repair issues? It’s a good question to ask. Failure to look into this may result in costly repairs or even loss of value on your home.
If you are interested in buying a home that needs structural repairs, here are some questions to ask:
- What are the causes of the structural damage? While the home inspector has the knowledge to recognize damage in the home foundation or basement, unfortunately, most people may not easily see it. You may see cracks that may be suspicious. It may be a serious structural issue. The cracks may be caused by any number of issues which we have covered in previous blogs: the soil has washed away, clay soil that expands during wet weather and contracts during dry spells, and sinkholes. The cause of the damage determines the type of repairs. A structural engineer can inspect it and consult you on the repair(s) needed for the home.
- What are the costs? The seller or seller’s realtor should give you an estimate from a home foundation repair contractor to the buyer. Be sure to check what is on the estimate. The estimate may include home stabilization, cosmetic repairs to the home exterior, interior crack repairs, doors, and windows replacement and repairs. Also, verify that there is a warranty on all repairs and materials.
- Has the underlying cause of damage been resolved? If the cost of repair is only part of the damage under the home but not the real cause, then the settling is only delayed for a period of time. You will have new repair bills, which could be quite expensive, in the next few years. Have a structural engineer submit a detailed analysis of the repairs that are needed for the long-term that will prevent home foundation damage in the future.
Purchasing a new home is probably the most significant financial decision you will make in your entire life. In 2023, the average home in the Bethesda, MD area costs $1.2 million dollars. Homes sold after 32 days on the market. *** At that listing price, imagine what foundation repairs would cost! It’s worth the time and effort. Please make sure you have the home you want to buy inspected by a structural engineer.
M Taylor Enterprise can inspect your home foundation to see if you have any home structural issues. Call our home foundation and structural repair experts in Maryland at (301) 649-3406 or matt@mtaylorenterprise.com. We will do a free consultation, make recommendations, then do any needed repairs quickly and efficiently.
We serve Montgomery County, MD, parts of Prince George’s, MD, and Howard County, MD.
*** For more information on the Bethesda, MD housing market, visit the Redfin website.
