Foundation Problems Hurt Resale Value

house for saleFoundation problems can make it difficult to sell your home.

Your home is your castle, but foundation issues can make it seem like you’re trapped in a damp, crumbling dungeon. Those problems can lower your home’s resale value and make it difficult to sell the property.

Experts estimate unresolved foundation issues can lower a home’s value by 10-15%. That means a $200,000 home loses $20,000 to $30,000 in value.

Not only are the foundation issues likely to lower your home’s resale value, they can also make it nearly impossible to sell the property.

Delaying Repairs is Costly

Will dismissing repairs cost me more later? More than likely, yes. Taking care of your home’s foundation maintains your home’s value. If your foundation is about to collapse the rest of your home is soon to follow. Putting off home foundation repairs will always cost you more in the long run. Clearly, it makes sense to avoid delaying foundation repairs. For starters, your home inspection will list fewer problems if you repair the problems now instead of later. Even more, you will not regret your decision to increase the value of your home. It is a logical choice.

Remember repairing your home is one of the areas where you get what you pay for.

Survey Shows Buyers Want Move-In Ready Homes

A 2020 Better Homes & Gardens survey asked recent home buyers and real estate professionals what’s influencing today’s purchases. A majority of those surveyed said they wanted move-in ready homes.

In the past, bargain hunters searched for fixer-upper project homes and weren’t afraid to tackle major renovations and repairs. Today’s buyers are shying away from big projects. Instead, they’re hoping for simple cosmetic upgrades such as new paint and carpet. Ask yourself this, will repairing the foundation NOW make for a swifter sell in the future?

In fact, foundation problems are viewed as critical issues that can drive buyers away. Even the most savvy do-it-yourselfers lack the professional expertise needed to repair a damaged foundation.

FOUNDATION ISSUES DON’T ‘JUST GO AWAY’

Foundation damage doesn’t “just go away” and the longer you wait, the more the damage can spread potentially turning a small project into a major undertaking. More importantly, unresolved foundation issues can lower your home’s resale value or even make it impossible to sell.

We realize concerns about paying for the repairs make some homeowners reluctant to call a contractor. Home repairs of any type can unsettle your bank account. However, there are options when it comes to financing the needed foundation repairs.

My Foundation Repairs offers a nationwide network of the top foundation repair specialists. My Foundation Repairs gets you in touch with the industry leaders for structural or water-related repairs. More specifically, our contractors offer free foundation inspections for homeowners.

Don’t let your home’s value crumble. Contact us today.