What is the extent of the damage? Minor foundation issues are small. If you fix them, they usually affect home value only a little. But, if the damage is extensive and not fixed, it can reduce the property’s value.
Does Foundation Repair Affect Home Value?
Get our partial list of damage. We compiled it from our experience with foundation repair.
- Cracks in Walls and Floors.
- Uneven Floors.
- Sticking Doors and Windows.
- Separation of Walls and Ceilings.
- Bowed Walls.
- Sagging or Bouncing Floors.
- Foundation Heaving.
Foundation Repair Quality
We have found that the quality of the foundation repair work matters. A good repair fixes the issues and restores the foundation’s strength. Quality repairs help keep or raise the home’s value. But, a bad repair job can hurt the property’s value because it fails to address the underlying issues.
Real Estate Agents
For years, we have worked extensively with Real Estate Agents. They have expanded our understanding of foundation repair’s relationship with home buying. We recommend discussing foundation repair issues with your Real Estate Agent.
Essential Disclosure and Perception
The repair’s disclosure to buyers also matters. It can affect how they see it and its value. Openness and evidence of repairs can ease concerns. They reassure buyers about the property’s condition.
Market Conditions
Market conditions also play a role. They determine how foundation repair affects home value. Our Real Estate Agent friends say this about a seller’s market: demand exceeds supply. In such a market, buyers may be more willing to overlook minor issues. In a buyer’s market, even small foundation issues can lead to less interest and lower offers for your home.
Location, Location, Location
And as always, Location, Location, Location. The impact of foundation repair on home value can vary based on the property’s location. Due to soil or geological factors, foundation problems are common in the DFW area. Buyers in DFW may expect foundation issues. They consider them when buying.
Does Foundation Repair Affect Home Value – Yes!
Selling a home with foundation issues should not be a hindrance. Work with your Real Estate Agent to discuss your home’s foundation issues. Also, consult with a professional Foundation repair company in advance. Reduce any potential issues.
For more information or to schedule a foundation inspection, contact us today.
