Chimneys: Sometimes chimneys are built on a foundation that is not connected to the rest of the home. This can be a problem when the chimney begins separating and leaning from the house as its independent foundation begins to settle.
One of the most common signs of damp basements is foundation problems. You can notice the foundation settling in certain areas. You can also notice dampening of the basement floor. Foundation walls might develop cracks as well. Water can damage the footer drains.
There are some areas of house building where you cannot skimp on the costs and one of these is that you will definitely need to hire a structural engineer. You cannot get house insurance unless you’re house has been sign off by an engineer and you cannot get a mortgage without house insurance.
Butyl rubber sealant. This is a strong exterior sealant that can be used on wood, metal, concrete and brick. It is good for sealing joints in gutters and around chimneys as well as sealing around skylights and roof vents. It is also the best waterproof sealant for house foundations. It is difficult to apply and slow to dry and clean-up requires a solvent. This sealant has a life expectancy of 2-10 years.
If you have a concrete porch, you may have already confronted damaged edges. The edges are very vulnerable to damage. If it is just a small damage, you can easily fix it by putting in more cement. If the edge is broken and you have found the broken part, you can easily re-attach it using a bonding cement. But if you cant find the missing piece, then you have to do the edge again using a newly mixed cement.
As you walk through the house, do you see cracks in the walls which could indicate foundation problems? foundation repair, be it slab or pier and beam, is a very costly expense. On top of the house, is the roof in need of repair? If so, are there leaks inside the house and can you see any water spots on the ceiling?
As mentioned earlier, time and money are the major factors deciding your income potential. If you buy a property rehab it and hold it for some time, your profit potential will depend upon your refinance options and the appreciation potential of the property in your area.