Over time, even the most solidly built homes can form cracks and unevenness in the foundation slab. This can cause corrosion, dry rot, moisture damage, and other risks. When inspecting an older home, check for doors and windows that jam easily, visible wall cracks, cracked tile, and uneven floors, as these are common signs of foundation problems.
Foundation repairs can escalate to over $10,000 very quickly, depending on the age and extent of the issues — and homeowners insurance won’t cover these costs. If a home has foundation concerns but you still want to move forward with the purchase, consider negotiating the repair costs into the purchase price, or account for the extra repair costs in your budget.