House Problems That Will Never Be Fixed

Cost-Effective Repair or Merely Desirable One?

Just because every house problem (save for location*) can be fixed, doesn’t mean it will be.

That’s often true for poorly conceived floor plans; functional obsolescence (one hall Bath serving four upstairs Bedrooms); and underwhelming curb appeal.

In each case, the fix can easily run into six figures — money that no owner would intelligently invest, if only because they’d never recoup it on sale.

Deal Breaker?  Not for the Next Owner

Of course, by definition, it’s also the case that such homes attract owners who are less bothered by these shortcomings than others might be.

Prospective Buyers may even be grateful that the home has one or more flaws that are deal breakers for some.

That’s because such a home will very likely have to be (deeply) discounted, resulting in a lower purchase price (and more affordable monthly payments).

Subtle Settling

In a nutshell, that’s my “crystal ball” for a very nice Minnetonka home that I just showed with 4 Bedrooms, 3 Baths, nice curb appeal — and a subtle (but unmistakable) settling issue.

Given the home’s age (1927), the settling is very likely historic as opposed to active.

And it’s also the case that the settling is only noticeable in part of the home.

Unfortunately, the affected area(s) include the Family Room (1st floor) and Master Bedroom (upper level).

Based on the home’s size and age, I don’t doubt that making the floors absolutely flush would require $150k in foundation work and floor repair.

Given the home’s list price — $525k — it’s equally obvious that’s not going to happen.

Instead, the new owners are very likely to live with the problem — just like the home’s previous owners have done for the past almost 90 years.

*See, “Garage/Driveway ‘Switcheroo.'”

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