March 12, 2004
How not to buy a shoddy home - The downside legacy of this country's decade-old building boom includes suburban sprawl, congested highways and tract after tract of cookie-cutter houses. Now add to that a rise in the incidence of serious defects in new or young homes. Faulty foundations, severe moisture intrusion and shoddy framing are commonly at the root of problems that manifest themselves as gaping cracks, rotting walls and windows and doors that don't close tight. Often these problems show up months or even years after the buyer has moved in and the builder has moved on.
No one is documenting the extent of the problem, but some estimates claim that 15 percent of all new homes are seriously defective. Experts say the fast pace of construction is a cause. They point to several other contributing factors:
Builders are under pressure to keep costs down so homes are affordable and profitable.
Demands for energy efficiency and environmentally sound products mean that homes today are more complicated to build.
Qualified laborers and quality materials are sometimes in short supply.
posted to Financing on 1:54 A.M. EDT