All Forum Posts by: Lauren Peterson

We moved into this single family home about 5 months ago. The inspection had revealed some cracks in the foundation, but nothing overly alarming. We plan to live here for the next 2-3 years and then sell it when the military moves our family again. We had a foundation company look at the home yesterday and there is about 1” difference in the highest and lowest part of the house. They are recommending piers for preventing future issues and quoted us 35k for the work. My question is: is this worth it? It’s a lot of money for us moving relatively soon and I don’t know what it would really provide in terms of value to the house. We were looking at adding a half bath but wouldn’t be able to do both with our current financial situation. I’m currently leaning toward the bathroom as being a better investment for this short term situation. 

@Andrew Postell That makes sense. It’s a property my sister in law is planning to sell this summer, so I’m trying to figure out if 1) we can even assume the loan (we live in another state), and 2) how to creatively finance the remainder (~100k). I’m playing with seller financing options but this would be my first time and I’m really working hard at the plan before proposing it. I wish she would keep it as a rental but she thinks it’s too much work. She is also planning to move out of state after selling.

If I assume an FHA loan, do I still have the requirement to occupy the property as my primary residence for a year?