A home’s property value is influenced by an array of things and the home foundation is one of them. No one wants to purchase a home with underlying issues and having foundation damage will certainly not do you any good. Based on one estimate, foundation damage can reduce a home’s value by 10-15%. Here are some of the ways the condition of your foundation affects home value.
If your home has extensive foundation damage, repairs will need to be done at some point. Whether this is you or the future buyer, it’s going to be a costly endeavor, which means you can’t sell it at its original prices, especially if you leave the foundation repair costs to the new owner. Foundation repair costs are dependent on the size of the home, type of foundation, severity of the problem, and other factors.
You want to increase your home’s curb appeal if you are looking to sell your home at a good price. But if you’re experiencing foundation damage, a buyer is likely to have a negative impression of your home. You might have to lower the price to get the house off the market.
When you fail to fix your foundation for an extended time, you will begin noticing other issues such as cracked walls and ceilings, broken and cracked windows, a leaking roof, and more. Fixing these issues is going to cost money and if you leave it up to the future owner to do it, you will need to lower your home’s value first. If you are lucky, you can get a buyer willing enough to purchase your home with all its problems.
The bottom line is, a strong foundation will afford you massive points for aesthetic and structural value. Hence, it’s best to perform foundation repairs whenever they occur and take measures to avoid such problems entirely. Some of the ways you can avoid foundation damage is by waterproofing your foundation, staying vigilant when it comes to landscaping, and directing your yard’s grade slopes away from the home.
If you suspect your home has foundation damage, contact our team of professionals at BARRIER Waterproofing Systems today at 931-996-5187 for a no-obligation consultation. We would love to answer any of your questions.