Your home’s property value is influenced by many factors – and a home foundation repair is one which can give it a major boost. Whether you’re looking to put your home on the market or want to maintain your home’s value, a strong foundation sets the stage for other aesthetic and structural value points. So how does foundation repair boost your property value? Here are 4 benefits we’ve broken down for you.
Protect Your Home From Future Issues Down the Line
Your home’s foundation is the backbone of its entire structure. When the foundation isn’t healthy, other parts of your home will eventually feel (and show) the impact of the disrepair. If you’re planning on selling your home in the near future, it’s never too early to act on potential foundation issues. Doing so as soon as possible will not only increase your home’s property value – it will ensure your home is always as protected as possible.
A professional foundation inspection will give you a baseline understanding of your foundation’s health and whether or not it’s at risk for developing further damage. At Perma-Pier, we’ll help you understand the state of your foundation and how to prevent further damage. Even if it looks strong and solid, it’s important to understand how to keep your foundation healthy and avoid anything which might pose a risk down the line.
You may be hesitant about taking the time to schedule an inspection if you do not see any signs of foundational damage around your home. However, that doesn’t mean your foundation isn’t a few months or bad storms away from creating those visible signs of damage. Getting an inspection will allow you to catch any potential problems before they begin – this means when you’re ready to sell your home, you’ll have fewer repairs and out-of-pocket expenses that might occur. If the inspection does show a need for foundation repair, experts recommend having repairs done sooner rather than later to help reduce the chance of higher-priced repairs.
Even if you’re planning on keeping your home in your family for generations, it’s important to consider the value of your property, especially as neighborhoods and urban landscapes change over time.
Avoid Complications With Buyers and Lenders
If you are looking to put your home on the market soon, repairing your home’s foundation now will save you money, time, and last-minute frustrations, when people start putting offers on your home.
If you choose to put your home on the market knowing it has foundational damage, you can either choose to have it repaired before your buyer moves in or ask the buyer to take on the responsibility of fixing it. Keep in mind you are legally required to disclose foundational damage to any potential buyers. Whether you repair it yourself after the sale or leave it to the buyer, your value and price point will go down.
Asking the buyer to make the necessary repairs doesn’t make a sale impossible, but it may complicate things for them and their lender. Homes with structural issues do not appraise as well as houses with solid foundations, and poorly-appraised homes are more difficult to finance. This may create hiccups as you and your buyer work through the financing and closing processes.
Ultimately, selling a home with a damaged foundation will decrease your final selling price. Depending on how much the foundation repair costs and how much it affects your listing price, it’s up to you and your real-estate agent to decide which is the most beneficial approach.
Set the Stage for Future Renovations and Upgrades
Another value-increasing benefit of scheduling a home foundation repair in advance is that it allows you to plan ahead for any renovations or updates you may want to make around your home.
It’s no secret that up-to-date homes with modern appliances, furnishings, and structures are more attractive to potential buyers and can increase your home’s overall property value. Whether you’re planning to build a deck, install new window paneling, turn your basement into a game room, or even just update your wall paint, a strong foundation will ensure every detail of the renovation process goes smoothly.
Before you hire any contractors or go shopping for new paints and panels, schedule a foundation inspection to make sure your home can handle the changes you plan to make. If your home foundation is found to be In an unfavorable condition, schedule a home foundation repair before moving forward with any major renovations or construction. Once given the greenlight to move forward, you can research the most popular home designs and features and get to work on making them happen.
Stand Out on Your Street
Curb appeal is a significant factor when it comes to selling a house at a high price point. A home that isn’t aesthetically appealing on the outside will lose a few points during the appraisal – and that means lower property value.
Many aesthetically unappealing features of a home are caused by foundational issues. External cracks, uneven driveways, and sinking doorframes can all signal a foundational issue within your home. Fixing them before you have an appraisal done can make a huge difference in your home’s overall value.
A strong foundation combined with updated designs, a beautiful yard, and stylish external décor will also help your home stand out amongst your neighbors. Even if neighboring houses aren’t in the best shape, your property value doesn’t have to take a hard hit as a result. Repairing your foundation is a solid starting point for ensuring positive curb appeal and a stellar appraisal.
If you are looking to put your home on the market soon, a home foundation repair can help your property value soar. Schedule your no-cost foundation evaluation with Perma-Pier today!