If you are not sure of the impact of a home’s foundation on its value, just try to sell your home with a damaged foundation. The foundation of your home is what keeps it standing up.
Of course, the value can vary depending on what the damage is and how expensive it will be to fix. A few small cracks in the foundation are not falling foundation that affects the entire house.
The Impact of a Home’s Foundation on its Value
If you are selling your home, ultimately, it will come down to the buyer. Some people won’t mind making repairs if they are looking to flip or renovate the home anyway. Some people will keep walking.
Cost of Repairs
The impact of a home’s foundation on its value comes down to dollars. Either you are going to have to hire a contractor to fix the foundation or you will need to have it deducted from the price of the house.
This may or may not be a big expense. You need to decide if it is worth it to have it repaired yourself or take the loss on your asking price. A few small repairs or a massive overhaul.
Ideally, you should make that investment back. You certainly open yourself up to more offers on the home if the repairs to the foundation are already taken care of before the sale.
Repercussions of Damage
The longer you wait to have the foundation repaired on your home, not only does it end up costing you more and taking longer, but there can be other damage that occurs because of it.
Water damage, cracked walls, sagging floors or roofs, doors and windows that no longer work, and other structural damages that get worse as the foundation is allowed to continue to drop or sink.
A potential buyer might also be wondering what else is wrong and needing repairs. As the foundation can have an effect on the electrical system, the plumbing, they may just give you a hard pass.
Decreased Curb Appeal
Here again, the impact of a home’s foundation on its value is hurt by a lower curb appeal. Most people will see the cracked and broken foundation as a red flag and likely not keep looking at your home.
If you are not going to fix the damages before selling, it can depend on the market and who wants to buy the house and for what purpose. Some buyers won’t mind a bit of work, others will.
If someone is still interested in the house, you can have a discussion about who will pay for the repairs. The buyer may have their own contractor and wish to have the work done themselves, but you will lose the cost of that on the sale.
The Impact of a Home’s Foundation on its Value
Mostly, it will come down to your budget and what the potential buyer is willing to allow. There can also be major safety issues involved, so they may want an inspection before moving forward with anything.
The foundation of your home is the entirety of it. It’s what keeps you safe and the rest of the house upright and secure. Fixing the foundation will have to happen eventually.
For an inspection or more information, please contact us here at KC Pier. At KC Pier, we have effective, warrantied solutions for foundation problems of all types, and we have the training, techniques, and top-quality products you need to permanently solve your problem.