You’ve done all the right things when it comes to your foundation problems. You’ve gotten a foundation inspection. You’ve got the foundation repair bids. You’ve made the company comparisons. But you’re looking at those big numbers and are still wondering . . . is foundation repair going to be *worth* it?
If I spend this much money, is it going to make my life better or give me buyer’s remorse??
At Anchor Foundation Repair, we’ve seen countless homeowners over the last 40+ years ask themselves this same question. We’ve walked many folks through this decision-making process and understand the worry and concern you’re feeling over a repair of this magnitude. We’re not afraid to admit that sometimes foundation repair makes sense for people, and sometimes it doesn’t.
This article will guide you through some thoughts on foundation repair and offers perspective to help you make a foundation repair decision that matches your needs, wants, and plans. By the end, you should more clearly know the answer to whether or not foundation repairs are worth it in your particular situation.
Pros and Cons of Getting Foundation Repairs
Sometimes, a pros and cons list is all you need to decide if something is right for you, so we’ll try that first and see if it helps you decide.
Pros of Getting Foundation Repairs
- Foundation repair restores the condition and value of the home to expected levels,
- Corrects the cosmetic and functional issues caused by foundation settlement, and
- Can be a permanent fix to stabilize the foundation going forward.
Cons of Foundation Repair
- Can be time-consuming,
- Tends to be a very large expense,
- Can lead to buyer’s remorse if the value is not realized, and
- The foundation can move again if you choose cheap repairs.
Yes, foundation repair costs a lot, it can be messy, and takes time. But, you have to remember that it’s an important whole home system. It supports the entire structure of your home and keeps you safe, warm, dry, and protected from pests. It’s good to remember all the reasons that your foundation needs to function well.
Do any of these pros and cons speak to you enough to make a comfortable decision? If not, keep reading . . .
Are Foundation Repairs Worth The Cost?
People often focus on *the cost* of something dollar-wise – is it worth the money? While it’s good to contemplate the actual prices, I think what’s being asked here is about more than dollars and cents. It’s more like, does it make *sense* to spend the money? Is it going to be worth it FOR YOU in the long run?
The best way to decide if these repairs are worth it is to think about your current situation as well as the future plans you have for the home. Are you:
- Living in anguish with daily frustrations and problems with your home?
- Planning to stay in this home forever or pass it down to your kids?
- Thinking of selling soon?
- Hoping to remodel in the near future?
- Flipping it and then flipping another one after that?
- Going to buy another house, but keep this one and rent it out?
Let’s explore these questions next . . .
If You Are Living In Anguish With Daily Frustrations
People often feel very stressed about the appearance of their homes with foundation issues. You might even be so embarrassed that you avoid having company. Others may be more worried from a safety standpoint. Are you kept up at night with worry about the stability of your home?
Deciding to get your foundation repaired in one part feelings and one part functionality, your feelings matter just as much as when things aren’t working properly.
Sounds like your foundation problems are really upsetting you. If this is the case, then getting your foundation repaired is going to be well worth the cost. Your frustrations and anguish with your home will significantly improve. Any functional problems, like doors that don’t work correctly, will be fixed with foundation repair. You will be able to sleep and release your distress about this issue.
Plus, you will feel so much better about being able to invite people over again. #worthit
If This Is Your Forever Home
Deciding if foundation repair is going to be worth it depends on what you plan to do with the home in the future. If you plan on staying around forever, maybe even passing the home down to your children, then getting the best foundation repairs possible will be worth it in the long run.
Most homeowners want to take care of their house better when they plan on keeping it.
You don’t want to pass foundation problems off to your heirs for them to deal with. It makes more sense to take care of the issue now. Prices always tend to go up so it’s never going to be any cheaper than it is right now. You can continue enjoying your home and give your kids peace of mind, knowing that the problem is handled.
Getting foundation repair from a company with a lifetime transferable warranty (like we do here at Anchor) will also set your children up in the best possible situation. #doitforthem
When you are considering selling your home soon, you kinda have to think about what your potential buyers would want.
If You Are Going to Sell Your Home Soon
When you are considering selling your home soon, you kinda have to think about what your potential buyers would want.
- Are buyers picky and looking for the perfect home in the perfect neighborhood?
- Or are they likely looking for a fixer-upper and a good deal on a distressed property?
- What kind of person do you think is looking to buy a home in your neighborhood?
It also depends a lot on what the housing market is like in your area.
- In a Buyer’s Market (i.e. many homes to choose from and buyers can have their pick, homes sitting on the market longer, homes selling for less than the original asking price) – As a seller you need to put your best foot forward with the most desirable house you can present so that more people want it. So that might mean getting the foundation repaired for a quick sale. #fixit
- In a Seller’s Market (i.e. home inventory is low, buyers are desperate to find something decent in their price range, may even pay more just to get into anything at all) – Sellers have more options and may consider putting the house on the market without fixing the foundation at all, or leaving it as a point of negotiation during the sale. #waitandsee
There are many things to think about when selling a home with foundation problems. For example, homes without foundation repairs when they are needed will likely sell for less than expected value. Homes with a repaired foundation should retain their expected value and sell for about the same as a home that didn’t need repairs.
It’s complicated and you should rely on your real estate professional for help. You might want to check out this other article because it could go either way in this case.
If You Are Planning to Remodel Soon
When you are remodeling, the goal is to improve the condition of your home. Getting your home in the best possible condition means making sure all your home systems are in good working order, and that includes foundations.
If you want to remodel well, then it’s best to repair the foundation first before doing any renovations. This sets the stage for stable and lasting results for your fabulous refinished home. #foundationrepairfirst
What happens if you don’t repair the foundation before remodeling? Well, the foundation can keep settling. An unrepaired and still-moving foundation will mess up all the new finishes you just put in place during the remodel. You do have some options at this point, but they are more limited.
Imagine your freshly painted walls with new cracks in them a few months after remodeling . . . your new backsplash and shower surround tiles start showing cracks in the mortar and your pretty bathroom isn’t so nice anymore . . . .
If You Are House Flipping
House flippers are trying to make a profit, so I get that the motivation is to keep the fix-up expenses low. However, skipping foundation repairs can result in quick deterioration of new finishes put on the home for the next sale.
You might not want to spend money on foundation repairs, but you probably should.
We’ll be the first to admit that foundation repair is expensive. In the case of buying a distressed home to fix and flip, you should at least do some kind of foundation repairs. It doesn’t have to be top-of-the-line foundation repairs, but something with a decent warranty that would satisfy both homebuyers and their lending institution is in order.
It’s the right thing to do. #dosomething
If You Plan to Rent the House Out
Let’s say you’re buying a new home to move into and keeping the old house to turn into a rental. Renters don’t worry much about foundation problems because frankly, it’s your problem, not theirs. Renters like to rent because then they don’t have to mess with this kinda stuff.
As long as everything is functioning properly, a renter isn’t going to care that much if there are a few cosmetic issues that are easy to cover up. We tell property owners all the time that you could probably wait a while to get foundation repairs if it’s a rental.
Monitor the home throughout the year, make sure your tenants water the lawn, and see what happens. There’s nothing wrong with delaying foundation repairs (temporarily or indefinitely) for a rent house. If your tenants are satisfied and no real damage is being incurred by the foundation settlement, then it’s safe to wait on repairs. #holdoff
If The Repair Costs Exceed the Value of The Home
This is one thing we didn’t even list earlier because it’s quite unlikely in this day and age. It’s if for some reason the cost for the foundation repairs exceeds the value or the rebuild value of the home.
This is an extremely rare scenario with the way that home prices are these days, but I suppose somewhere in the country where home values are very depressed in a rural area it could happen.
So, if it costs more to repair the foundation than to sell it or rebuild it, then you should totally tear that puppy down and start over with something new. #rebuilditinstead #rare
Deciding If Foundation Repairs Are Worth It In Your Case
Now that we’ve talked you through the common situations one might be in when deciding whether foundation repair is worth it for you, how do you feel? Did you see your scenario here? At any rate, hopefully you feel better knowing that foundation repair is not always a black and white decision. It’s okay if you decide that it’s not right for you, at least right now.
At Anchor Foundation Repair, we’ll be the first to tell you if we don’t think foundation repair is right for your situation. We don’t fix things that don’t need fixin’ and we don’t try to sell you stuff that you don’t need. After 40+ years in business, that’s what’s best for our Brazos Valley community and for exceptional homeowners like you. We’re here to help guide you through the foundation repair process, but you make to decision to repair.
Ready to do foundation repair right the first time? Get started here with our online contact form, or if you’re contemplating waiting on foundation repairs, here are some good reasons to do so.
*Please Note* No stock photography models were harmed during the publishing of this article. Their egos may be bruised, but that is all . . .