Friday, February 1st, 2013 by Betsy Rathburn
Selling a home is not a decision anyone takes lightly. But there are so many things to consider – packing, moving arrangements, excitement about your new home – that it’s easy to leave something out. One thing you might want to consider, though, is whether the unseen parts of your home – the basement, the foundation, and the crawl space – are hurting its resale value. Did you know that wet basements, damaged foundations, and nasty crawl spaces decrease property value by an average of 10%?
Some of these things, like a basement with a water problem, are likely evident as soon as you enter the space, while foundation problems can be a hidden problem – until it’s revealed during a property inspection. Most homebuyers hire an inspector to help them assess potential problems in a home before they buy it, but a home inspection is a good buy for the seller as well as the buyer. Or maybe you’re already aware of your basement, foundation, or crawl space problem. Either way, a homeowner who addresses underlying problems could significantly increase the market value of his or her home.
Think about it: the average cost of a home in the United States is around $279,000 according to a 2010 estimate. If you have a basement, foundation, or crawl space problem, you could be losing out on over $27,000 – even more if you have more than one of these problems, which often coexist with one another. Check out this video to learn more about how a damaged foundation can damage your property value. While you may end up paying to do repairs, it’ll be worth it when your property value increases and your wet basement or cracked foundation will no longer scare away potential buyers.
If you’re a homeowner interested in increasing your property’s value, Innovative Basement Authority can help! Innovative Basement Authority is a trusted name throughout North Dakota and Minnesota for homeowners who need basement, foundation, or crawl space work, and we’re devoted to customer satisfaction through every phase of the work you need. Contacting us by filling out our online form is the first step! After that will be with you every step of the way, from the initial inspection to the final walkthrough, to make sure your home is at its best when you put it on the market.
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