Does Foundation Repair Add Value to a Home?
Discovering foundation damage in a house can cause any homeowner’s stomach to drop. Unlike more superficial problems, foundation damage can negatively impact a home’s structure, resulting in a host of issues that can affect everything from roofing to windows. However, foundation damage doesn’t usually lend itself to an easy fix, which leaves homeowners in a dilemma. Will investing in foundation repair add value to a home? The answer to that question depends on a couple of factors.
Condition of the Real Estate Market
Existing foundation damage should always be disclosed to potential home buyers when selling a house in order to prevent costly lawsuits later on. Since ignoring foundation damage isn’t a viable option, homeowners must decide whether it’s worth investing in foundation repair before listing their homes. In a buyer’s market, when the number of listed homes outnumber potential purchasers, everything that sets a house apart from the rest gives homeowners a competitive edge when selling. Foundation repair will likely add value to a home because it gives the owners more control over their selling price and widens the pool of interested purchasers.
Severity of the Foundation Damage
Large-scale foundation damage usually requires extensive and expensive repair work. Oftentimes, this work by itself won’t affect the selling value of a home much either way, as the price of repair work is always deducted from the bottom line. However, it’s worth considering the fact that foundation damage, when left unaddressed, can lead to additional problems like sagging floors, roofing issues, cracks in walls and ceilings, water damage, and broken windows. All of these issues lower the value of a home significantly and require expensive repairs.
Ultimately, foundation repair will only add value to a home in certain real estate markets. However, it always protects the value of a house from declining and can save homeowners from needing to make costly repairs to other parts of their home’s structure. No matter the type of foundation damage present in a home, Engineered Solutions of Georgia is happy to work with homeowners to provide a lasting solution. Contact us today and learn more.