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Sarah68

02:24PM | 07/30/04
Member Since: 07/29/04
1 lifetime posts
Bvbasement
I'm looking into buying a house and the one that I found in a great neighborhood has major structural damage. By major, the main supporting beam is not supported by the foundation and therefore other cross-beams are buckling and slanting. From what the inspector said, it probably will not fall down, but this house has been on the market for 3 months in a city where most houses go in 3 days. Is this a great fixer upper opportunity because the neighborhood is appreciating very quickly, or is this a huge headache? If anyone has any insight, please let me know. I am completely new to all of this.

Thanks,

Sarah

k2

09:05PM | 07/30/04
Member Since: 06/06/03
1250 lifetime posts
Welcome Sarah,

It's really difficult for one to answer this question from afar and over the internet....

But let me just say that I'm kind of in this same predicament myself! We have a rather mediocre house in a great neighborhood. We have owned for 9 years, and the foundation has always been 'less than perfect.' Previous owner(s) have had foundation work done. We've had some foundation work done--and have more planned.

Do we regret having bought this house? Not for a minute! But you should have a competent foundation pro look at the structure and (if you purchase) address the issues.

I do think the 3 most important features of a home should be "LOCATION, LOCATION, LOCATION." Note that nowhere in those 3 does it talk about the shape of the structure itself! But, just maybe, that should be a close 4th!

If it does have serious structural issues this can be a large financial setback--as well as somewhat tough to live through. But, if it's a way to get yourself into a top neighborhood it just might be worth it...

Also, remember that NO house is perfect. A "perfect" house in a middling neighborhood might LOOK perfect, but alas, they ALL need something--and continual upkeep. And all other thing being (somewhat) equal, I'd always pick the best neighborhood I could afford.

Keep us posted; the more you tell us the more we can help! And good luck!

Regards,

-k2 in CO

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