If you are considering selling your home, did you know the foundation will have a major effect on the price? It will. If your home’s foundation is damaged, you will need to either get it fixed or factor it into your asking price.
While repair costs are expensive, you will likely lose much more than what you will pay for repairs from the asking price of the home. Expect your asking price to be 10-15 percent off due to the damaged foundation.
Why Your Foundation Matters
It’s important to understand the part that your home’s foundation will play in its value.
Cost of Repairs
Whether you fix the damage on the foundation or leave it for the next owner, you still pay for it. If you pay to have it fixed, it will cost you much less than allowing the price to come off the asking price for the house.
The money spent to repair it before the sale can be as little as a few hundred dollars. The price coming off your asking price will be several thousand. It is worth it to have it repaired before you sell it.
A potential buyer’s first impression plays such an important role in making up their mind about buying your home or not. If they see cracks, crumbling foundations, or other damage, they are not going to feel good about the home.
People will naturally worry about seeing damage to the foundation. Cracks and other damage will be a big deterrent for people looking to buy a house. If it looks rundown, people will not likely be too interested.
It can make the home seem like it is in disrepair and not safe. They are also going to think about the money that they will need to spend if they do buy it. Often, the very sight of damaged foundations is enough for people to just move on and not even bother looking at your home.
Foundation Problems are Whole House Problems
When people see foundation problems, it leads to them assuming there are other problems, as well. Often times, they are right. A falling or tilting foundation affects everything else in the home, from the floors, the walls, the ceiling, the roof, the stairs, and all the doors and windows.
It doesn’t have to be a lot of damage to cause major damage throughout the rest of the home. The longer the foundation is left without repairs, the bigger the rest of the damage becomes.
No one will want to buy that house unless they are planning on a complete renovation. But left too long, you will not get a great price for it unless you take care of the damages before you put it on the market.
From sagging floors to leaking roofs, the base of your home is the foundation. If you are planning on selling the home, you need to be honest about the damage or have it all repaired and let them know it was done.
Call an Expert
Before you list your house for sale, bring in a foundation contractor to inspect the foundation and the home. Get all the repairs done first, then you can list the house for sale.
Contact Olson Foundation Repair today for all your foundation repair needs. Having a strong foundation is crucial for your home’s stability. Restoring the support your foundation provides for your home is an urgent need, and the team at Olson Foundation Repair can help.
If you are worried your home’s foundation isn’t as strong as it once was, contact them for a full inspection.