Why Did We Buy This House Again?
Ah, spring…that lovely time of year when I’m again reminded that buying this house was perhaps not such a good idea.
What do they say? April showers bring May foundation leaks?
Yeah, I didn’t think so.
Our naive first-time homebuyer, no-down-payment, 2005 height-of-the-housing market purchase has quickly turned into a real-life version of The Money Pit.
Here’s the plot synopsis:
May 2005
Home-buying fever hit us hard. All our other friends had already bought their first homes and were urging us to do the same. “But we don’t have a down payment,” I protested. “Oh, you don’t have to have a down payment anymore - we didn’t.” Because we were making $80,000 and living in a rented townhouse with a brown recluse problem, I didn’t need much convincing.
July 17, 2005
My boss recommended a realtor, we got preapproved for a loan and it was off to the races. As part of my husband’s court-ordered mediation with his bipolar ex, we had agreed not to move out of my stepson’s elementary school district if she would agree to let him attend its far superior schools. At the time, we didn’t realize that his elementary school district encompassed only two subdivisions: one preferred by the city’s professional football and baseball players, and a small neighborhood of homes built in the seventies. After broadening the search to a neighboring elementary school that would allow us to apply for an in-district transfer, we visited eight homes in our price range and made an offer on the fifth.
When viewing the home, we had noticed a few hairline cracks in the foundation wall near the window, but our realtor told us it was very common and probably not something to worry about. Besides, the home inspection would alert us to any issues.
July 25, 2005
The home is inspected by our realtor-recommended home inspector. She does not think the foundation cracks are a problem. Her only recommended repairs are to have the homeowners fix the seeping kitchen faucet and re-attach the guest bedroom’s smoke alarm.
Slight settlement noted. There are cracks in the south wall on the outside and inside of the basement and one at the NW corner. These indicate slight settlement. Monitor for future movement and maintain exterior drainage. No repairs recommended at this time.
August 2005
Less than one week after closing on the house, the city is deluged with rain storms and a large puddle forms on our foundation’s floor. We are freaking out, and my husband is convinced that the previous owners ripped us off by not disclosing the problem. I call ourrealtor. She says that she’ll call the other realtor , but that there’s probably nothing we can do because the previous homeowners only lived there for two years, and they really might not have ever had a problem. Besides, it’s been an extremely dry summer followed by a ton of rain, so a little water in the basement is nearly unavoidable. We probably just need to check the slope of our yard and then call The Crack Team to seal up the crack for good.
Summer 2006
We do some work on the drainage under the deck and re-grade the dirt near the foundation. No signs of water entry. The Crack Team gives us an estimate of $800 for sealing the main crack, and $500 more for the hairline cracks by the windows. Since we don’t have the money and think we may have fixed the problem, we decide to wait a year or so.
Summer-Fall 2007
A noticeable crack develops at the peak of our living area’s cathedral ceiling. Doors are not closing easily, and small hairline cracks are developing above some interior windows. Water occasionally enters the basement, though there has only been one other instance of a puddle on the floor.
We look into having a structural engineer assess the situation for $300-$350. My husband’s aunt and uncle recommend that we call a reputable foundation repair company and get a free evaluation instead. I am worried that this is a conflict of interest and that we won’t get honest feedback, but my concerns are laid to rest when the company looks at the house and says there’s probably nothing to be worried about. The foundation cracks are minor settlements that have likely stabilized , and the ceiling crack is the result of extreme temperature fluctuations between the outside and inside of the house in a spot where not much insulation can fit. Their advice is to seal the foundation cracks with a special caulk, then pour buckets of water outside the foundation in the spring to see if the crack leaks. If the problem persists, it may be due to pressure from ground water, and they can give us an estimate for a water lock system (typically around $3,000).
March 2008
A new discovery: A long, winding crack has formed on our foundation floor, and it looks as if some water came up from under the slab in the last week or so. My husband is ready to the foundation repair company and have the water lock system installed as soon as possible, so I’ve temporarily cancelled our monthly debt snowball payments. However, I think we’re going to call in a structural engineer to diagnose the problem before we start shelling out money for repairs.
So here’s the short list of home repairs that will need to be made within the 5-6 years that we are planning to get completely out of debt in: Evaluate/Fix Foundation Problem, Paint House, Replace Carpet, Replace Roof, Replace Water Heater, Replace Heat Pump, Replace Appliances…oh, I can’t go on. Is this the dirty little secret of home ownership: you never stop paying?
