I am looking at a fixer-upper property in central Florida for long-term rental. The numbers seem to make sense.
The one concern I have is what I see on the county's it has the Foundation: 3 Pier.
I own several properties in central Florida and they are all concrete foundations. Annecodately, I was told to stay away from other types of foundations (i.e. piers).
- Are pier foundations more susceptible to damage and deterioration, that it should be a concern for long-term buy's?
- Are there any other factors to consider when buying pier foundation homes (maybe higher insurance cost)?
Thanks in advance for your help.
I haven't bought any houses on piers and probably never will. They tend to be older, and I'd be concerned about moisture and termites due to the exposed wood. Another thing that I've heard is that when a lot of these houses were built, they weren't designed to carry the weight and vibration of the major appliances we have today. It's possible that it could cause the piers to settle further, causing the floor (and everything attached to it) to be uneven. Several years ago we did look at a house on piers (it was a really good price) but decided to pass when we could see how uneven the floor was. The house was older and had too many unknowns. The last thing I wanted to jump into was spending the money to jack up the house to make everything level again. I'm also assuming the house is wood (not concrete block) and wood frame houses do have higher insurance costs (at least in my area they do.)
Thank you Karen for your feedback;