How Foundation Damage Can Impact Resale Value
If you’re either looking to put your home on the market, or looking to buy a home, you’ve likely heard about the impact that costly home repairs can have on the value of any home. One repair that can often be costly and should be examined prior to closing on a home is any foundation repair issue. The cost of foundation repair can vary greatly depending on the severity of the issue, so it’s vitally important to have all the information available prior to closing on any type of real estate. At Foundation Solutions 360, we’ve been hired by both buyers and sellers to perform foundation repair and basement waterproofing estimates to determine whether an issue is merely cosmetic, or points to a much larger structural issue.
How Do Foundation Issues Impact Home Resale Value?
Foundation problems can affect the resale value of a home in a number of ways, a few of which include:
- Impact on Curb Appeal – If a home has extensive foundation damage, it can be unsightly and if you’re trying to sell your home, you don’t want potential buyers instantly spotting cracks in your foundation which need to be addressed.
- Foundation Repair Costs – If your home has foundation damage, chances are the problems will be found during a home inspection. At that point, it’s merely a matter of determining how the repair will be paid for. Will you reduce the price of the home, or will you handle the foundation repair yourself? Whatever option you choose, structural issues should be taken care of as soon as possible to avoid further damage.
- Financing Problems at Closing – You could find yourself in a bad situation if a bank determines that a home has major foundation issues. The bank may decide not to fund a loan and force you to have to seek financing elsewhere.
Get Your Foundation Problems Fixed Now
If you’re currently dealing with foundation problems of any kind and are thinking of putting your house on the market, it’s best to take care of the issues before you’re facing a situation where a potential buyer may walk away due to the foundation issues. If you’re unsure of the severity of your foundation problems, feel free to reach out to Foundation Solutions 360 to schedule a time for one of our experienced team members to provide you with a free estimate. Call us toll free today at (855) 532-5360 or fill out our online contact form.