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You can buy a home with foundation issues, but understanding the extent of the problem and what solution you need is critical. If you learn that a home you’re trying to buy has a foundation problem, it’s not necessarily a deal breaker, but you should have a professional assess the issue to see how severe it is and know when to walk away from a foundation problem. Foundation issues can necessitate simple and affordable solutions or complex work that costs thousands. 

Foundation problems are costly to repair, but if you already own the home, you can either handle the issues or allow the property to (literally) sink into disrepair. The opposite is true when buying a home. Walk away if the seller refuses to lower the asking price once foundation issues are exposed or if they refuse to handle the problems before the completion of the sale.

In most cases, yes, homeowners insurance will cover burst pipes, even if they run through your foundation. Not only that, but most home insurance companies will also cover any foundation repair you need done that resulted from the plumbing leak because your insurer will view the leak as an unforeseen and non-preventable issue.

The best solution to fix a foundation crack in your basement floor depends on the underlying cause. If you just have hairline cracks from settlements that are no longer growing, the best option is to seal them with a crack sealant. If the cracks continue to grow, one edge rises above the other, or there are signs that water is getting in through the crack, a professional repair will be necessary. Depending on the root cause, your professional may employ foundation underpinning or some other type of stabilization, seal the cracks, or install a drainage system.