There is a lot of value in moving into a “fixer upper”. We've checked in with the team from Restumping Melbourne – who have given us the inside tips to making sure your next move is going to be on solid foundations ;-)
If a foundation is not in good shape, many other elements of the home are impacted and over time, that can cost you significantly more money. That said, the foundation of your home can go uncared for without you even knowing. So here's what to look for before you move into a home that needs Restumping work and all of the details of the work required before you can finally call your new house your home.
The first question is probably the one that’s most top of mind for you – what on earth should you look for in a new place that needs Restumping? This is where the tell-tale signs are important, all of which will at the very least annoying you over time and more likely cost you a lot of money.
Here are the questions that you should ask:
Setting expectations up front
You should feel comfortable having these conversations and making plans even before paying a deposit or tenancy bond. Remove any emotions and concerns about dealing with the seller of your prospective house – you need to be your biggest advocate.
Engaging a surveyor or building inspector to walk through the home with you is a good start to getting an idea of any maintenance timelines and costs. It’s tough to put a ballpark on either, because each home is unique. Instead, do this as early as possible in the home buying process, so you can talk to the seller about a contingency timeline when you make your offer on price. It’s important to call out that the seller may receive another offer from a buyer that’s not worried about the Restumping work, but we recommend that you handle this in advance and don’t have to worry about it later. As a general guide, an average sized 3-bedroom house might take 8-10 days to complete foundation repair works, and longer for anything more substantial.
Again, every property will have different costs related to the work, but contractors and companies after surveying will be able to give you numbers to factor into the number of buying the house. It never hurts to try and include these in the purchase price, since it’s work that should be done to bring any house up to standards.
Buying a home is exciting. Check out more info from the Restumping Melbourne team site for more info about how to make sure your new "renovators delight" goes to plan.
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