Chicago Climate: Slab vs. Crawl Space Foundations

[Felix Z.]

Hello everyone, I have been active in my search for my first property and wanted to gain some insight on the pros/cons of a slab foundation vs. crawl space/basement. I know slabs hold up well in warmer climates, but does anyone currently own a property on a slab here in Chicago/Northern Illinois that can share their experience? One of the properties I am looking at was built in the 1890s w/ a slab. 

Thanks!

[Patrice Boenzi]

@Felix Z. I have lived in the suburbs of Chicago all my life. I am a Realtor and investor. I have lived in homes on slabs, with crawl spaces and basements- they are just different, in my opinion, and one isn't better or worse. It depends on preference. There are things to look for in each i.e. Water, is the crawl "sealed" etc. 

Since his is your first property, I want to mention something else. Every investor has their own risk profile hen investing, but I would be looking at the age of the home and what needs to be done to it. Also, determine if you can get the materials you need to do what you want I.e. Door sizes, is the electrical updated.  I have spoken to other investors who Flip older homes and then tell me they always almost double what they think the repairs are going to cost. Make sure that with the scope of work you want to do will not cause you to "bring it up to code"- sometimes, in older homes, they are grandfathered in, but when you update them then you need to bring them up to the current code.

Good luck!