I'm looking to buy my first house and found one that's been renovated and looks great, but I just learned from the inspection that there's structural damage in the basement. The inspector mentioned that fixing it would cost around $5,000. The house was built in 1920, so while it's got a lot of appeal, I'm worried about these issues. Should I go ahead and pay for the repair or should I find another house?
3 Answers
It's hard to say what's truly necessary unless you have a detailed inspection report. Structural issues can be complicated and often cost more than anticipated. Usually, if it’s listed as a $5k repair, you might consider asking for at least a $25k discount on the house price, just to cover potential unexpected costs. Why take that risk without a significant price cut?
Honestly, I’d recommend asking the seller to fix the structural issue before you buy. If it’s a legitimate problem, it’s better for them to handle it than to leave the burden on you after the purchase. Just be cautious and don’t let the $5k repair quote influence you without checking it out more thoroughly.
I would look into a second opinion from a structural engineer if you can. The $5k estimate could be a bargain or could come with hidden costs. Make sure you really understand the issue before diving in. Not every flipped house is a gem, so take your time!
Also, YouTube has tons of resources on structural repairs if you want to dive deeper into what you might be facing.
That sounds like a solid plan! I think an engineer could give you a clearer picture of what you're up against. If they say it’s not that serious, maybe it’s worth fixing.
I get what you mean, but I think it’s crucial to know exactly what the structural issue is. If it’s just something minor, like a couple of support columns, it might not be that bad. But if it’s a foundation issue, that's a whole other story.