When you put your home up for sale, you certainly hope to sell it at the highest price. Of course, the condition of your property will influence the price you can expect, with significant damage obviously dropping its value.
But what about cracks in the foundations? Do they make a house lose much value?
Not all cracks have the same impact on a home’s value
Foundation cracks can take many forms. The length, pattern and direction of cracks can give clues about the severity of the problem and, therefore, about their impact on the value of a home.
However, it should be noted that foundation cracks are not always a problem. Some can be benign and will have very little influence on a property’s value. Professional inspection of the foundations is therefore recommended to have a clear picture of their condition.
Cracks that indicate more serious problems and decrease property value
A diagonal or horizontal crack may indicate a structural problem. This means that the property will inevitably have to undergo repairs, which reduces the home’s value.
Moreover, in addition to its impact on the strength of the foundation and structure, these cracks are often the cause of other problems that can reduce a home’s value. For example, a crack can allow water and moisture to penetrate, resulting in the degradation of structural wood and plasterboard. Not to mention that damp areas are prone to mould growth.
Repairing cracks before selling: a lucrative choice
A residence that needs work is often less attractive to buyers. Many prefer to pay a higher price to get their hands on a house in good condition and have peace of mind.
Carrying out work before a house is put up for sale therefore slows down the decline in property value and guarantees the durability of the property for the buyer.
Economically speaking, investing in foundation repairs is therefore profitable since their cost will be practically reimbursed by a higher selling price. Not to mention that buyers will probably be less hesitant.
Preserve the value of your home by calling Foundation Crack Expert Group
In conclusion, a crack in the foundation of your home can effectively reduce its value.
If you want to sell it at a higher price, consider hiring the team at Foundation Crack Expert Group. After a rigorous inspection of your foundations, we can offer you solutions that will restore the full value of your property.