Do Foundation Repairs Affect Your Home’s Value?
You have just found a crack in your basement wall. And you plan to sell your home in the next year. Should you fix the crack or let it ride?
First, assess the problem. Most companies, including SEALED, offer no-cost inspections. Be sure and describe to the inspector any flaws, cracks, voids, or recent movement. If you need to call in a structural engineer, that will probably cost a few hundred dollars. But consider it money well spent if it helps identify a problem, and points to a solution. A repair that may be treated for seven or eight hundred dollars when addressed early, may cost thousands if allowed to sit for months or years.
When you do have an expert inspect your home, don’t be surprised if they point out related issues that should be considered for repairs. Good companies are rarely trying to enlarge the scope of a project, they are just experienced and trained in what to look for and they may find things you had not noticed. Get a couple of assessments and estimates. Check out the reputation of those you consider for doing foundation work and look for reviews on their website and on social media. Also, talk to friends, neighbors, and co-workers to see which firms have done quality work. A first-hand endorsement is a thing of great value.
Now that you have an inspection and perhaps a bid, what do you do? There are several benefits to having the work completed. As you select a contractor to do the repairs, make sure you and the contractor have a clear and consistent idea of what work will be done, how much it will cost, and what is warrantied. You should ensure that there are no surprises.
A potential buyer will be impressed that you have paid attention to maintaining your property. Importantly, you won’t need to worry about whether a home inspection will uncover an unfixed issue, and you won’t need to face the possibility of having to reduce your selling price to fund a repair.
Another reason to address a foundation issue is that it can help avoid what are called “referred symptoms”. These are related issues that may develop over time if the primary issue is not repaired. These can include other leaks, expanding cracks, mold, floors that are uneven, doors and windows not working properly, etc. In our experience, the things that need attention never fix themselves.
Most real estate pros recommend having any known foundation issues repaired before listing your home. You only have one opportunity for your house to make a first impression. Don’t give a potential buyer any reason to eliminate your home from their shortlist.
The answer to our original question is that properly done foundation repairs can have a significant impact on your home’s value.
It will cost you nothing to have SEALED conduct an assessment of your home. Call us to arrange for one today at 816.308.2881.