Ways Basement Wall Cracks are Affecting the Value of Your Home
Are you planning on selling your home? Whether you’re thinking of putting your home on the market tomorrow or two years from today, it’s important to ensure that you get the best value from the sale. This probably won’t happen if you have basement wall cracks. Here’s how those cracks in your basement walls are affecting the value of your home.
1. A sign of future problems
One of the biggest challenges of selling a home with wall cracks is getting buyers to look beyond the cracks. For many buyers, cracks in the foundation are a deal breaker. While foundation problems are something every homeowner faces at one time or another, potential buyers don’t want to be faced with these problems from the outset. There aren’t many buyers that would be willing to look past foundation cracks to buy a house. You won’t have an easy time getting a buyer at the price you want. You will probably have to ask for less to attract buyers.
2. The cost of repair
Buyers may be interested in your home despite wall cracks. However, they are likely to negotiate the price down because of the cracks. They will factor in the cost of repairing the foundation and negotiate for a lower price. If you want to get more value from the sale, you would be better off repairing the cracks yourself. Potential buyers will have no reason to negotiate for a lower price.
3. Loss of curb appeal
If you leave your cracked foundation unattended, things are only going to get worse. Wall cracks won’t only affect your basement. They will cause problems in other parts of your home as well. Your home will have sagging floors, the doors or windows will not fit properly, the ceiling will begin to crack, you will have cracks on walls in the upper levels of the home, and many other signs of damage. Your home will lose its curb appeal and is likely to deter potential buyers right from the moment they come into contact with it. If people don’t feel that your home is appealing or even safe, you will have to lower your asking price to attract buyers.
If you have basement wall cracks and are planning to sell your home, take the first step by contacting us to discuss your foundation repair needs.