New foundation?

[Guest]

My husband and I have been looking at homes. We found a house that is OK but we love the land and location. The biggest problem is the basement. The foundation is cracked and bowing. Even with 2 sump pumps there is still moisture and mold in the basement. I have done quite a bit of remodelling but fixing or putting in a new foundation is a little beyond our knowledge.

What is the best option for this house. . .adding support beams or jacking up the house and putting in a whole new foundation? What is the cost involved for a 1200 sq ft ranch house?
Thanks!

[TJ1962]

There are way too many factors to answer this question in an absolute manner.

1. What is the severity of the bowing, how many inches in?

2. Is the home frame or brick facade?

3. Are the property lines too close for escavation?

4. How many walls are accessible from exterior? ie attached garages, additons, patios, decks, landscaping etc.

5. As an investment with a decent foundation would cost equal value?

It would be wise to pay an inspection fee and have a contractor give you estimates both ways allowing you bargaining power with sale as well as what options are available.

[Guest]

From what we can tell the bow is about 2 inches although the progress has been slowed by a wood beam that was installed several years ago and is now rotted from the water problems.
The house is a frame construction with wood siding that needs to be replaced with vinyl.
Room for escavation is not an issue since the house is on 4 acres with plenty of room on all sides. There is however a breezeway connected to a garage on one side of the house, although I wouldn't mind ripping it down and starting over. The only other perceivable problem would be the septic system and well connections.
If we do consider the house I will definately get an estimate so we know what we are getting into. Thanks for your help.