wood vs concrete foundation

[wgraham]

I am currently looking at a property and have an accepted offer. After having the inspection done we discovered that it has a wood foundation (it was not noted in the mls listing) We believe the foundation is structurally sound but I am more concerned about long term resale value and my current purchase price. Has anyone out there got experience with this sort of matter? Do I ask for a reduction in purchase price? How will it affect my ability to sell?

Thanks in advance,
Wade Graham

 

[TerryKruse]

QUOTE (wgraham @ Feb 29 2008, 08:17 AM) I am currently looking at a property and have an accepted offer. After having the inspection done we discovered that it has a wood foundation (it was not noted in the mls listing) We believe the foundation is structurally sound but I am more concerned about long term resale value and my current purchase price. Has anyone out there got experience with this sort of matter? Do I ask for a reduction in purchase price? How will it affect my ability to sell?

Thanks in advance,
Wade Graham

I have a duplex with a wood foundation and many people tell me this is not a problem. My duplex is from 1970 and it has no issues.
Cheers, Terry Kruse

 

[craigw]

Hi Wade, I am a carpenter and have built some wood foundations in the past. Wood foundations have more potential for problems than concrete however if it was built properly and sealed properly than it might be OK. The two main problems with wood foundations are leaking and the walls being bowed in from to much ground preasure. If there is no sign of either of these you should be OK. The bowing usually occurs soon after the house was built when they back fill the foundation with dirt or if the house is built on unstable ground. As for potential leak problems, it depends on how well the foundation was dampproofed. If the house is 15 to 20 years old or more and there are no signs of problems by now you should be OK. I would also look at the location of the house, is it sitting on high ground or in a low lying area. I am assuming this house is in alberta some where, if it is in Vancouver run away as fast as you can. Hope this helps.

Craig Williams