When buying an investment property, you should focus on dozens of things, like envisioning monthly income, the property will generate while renting, or overall profit you will gain while selling, to name a few.
But before you get into these details, drop your eyes a bit and focus on the foundation. As a foundation is what your investment house rests on. With a strong foundation, the house will remain structurally sound for years to come. In this article, I have stated all the essential information regarding the foundation repair. Read it carefully before buying and selling any property.
Examine the sign of damage
While giving a visit to your investment property, you have to look for signs of damage some of them are quite noticeable like uneven floors or cracked ceilings while there are few which demands more in-depth inspection.
- Counters and cabinets moving away from the walls symbolize some sort of foundation movements. And when the foundation moves, the cabinets and floors cease to level.
- Sagging, bowing, or dipping floors also indicates that the foundation has moved. These floors are hazardous, especially for adults.
- Gaps appearing in the exterior structures like doors or windows, or if they are not working, also make the foundation a culprit.
- According to experts, the house sinking into the floors also indicate some foundation setting incidents.
- And in the end, you diligently look for any cracks in the floor and ceiling of your house.
Hire some professionals to evaluate the extent of damage
If any of the abovementioned problems seem to appear in your investment property, your first action should be to contact a foundation repair services expert for in-depth analysis. It is also possible that cracks on the walls just indicate some minor setting; otherwise, it has to be something serious.
Evaluate the repair cost and then make your decision
Calculate the cost of foundation repair. Some issues are minor, and you will be comfortable fixing them while other severe foundation issues may cost you thousands of dollars. For minor problems, you can negotiate with the seller and have a better deal. Remember to add contingency clause on the contract.
What sort of foundation repairs your investment property demands?
There are varied categories for foundation repair; you have to determine which of them your investment property demands. Different methods, like foundation slab jacking or foundation piering, can be employed in this regard. Foundation piering are the immaculate methods that address the issues underneath the foundation. These include shifting soil or clay. Foundation piering is a more commonly used method as it presents a permanent solution to the underlying foundation problems. On the other hand, slabjacking methods are more comfortable, invasive, quicker, and budget-friendly in comparison. These methods involve drilling holes into your foundation and then filling them with a special sealant mixture.