Home Finance 4 Home Repairs That Can Make Your Property Value Plummet If Left...

4 Home Repairs That Can Make Your Property Value Plummet If Left Untreated

While a little bit of cosmetic damage probably won’t have a huge impact on the value of your home, there are some major repairs that you should never ignore. Many potential buyers won’t even think about making an offer on a home if there is severe damage that hasn’t been addressed.

Plumbing Leaks

When it comes to your home’s plumbing, you should always be extremely careful. Even a seemingly minor leak or drip could result in thousands of dollars in damage and hundreds of gallons of wasted water. Plumbing leaks are also going to increase your risk of mold outbreaks and pest infestations. Luckily, an experienced plumber can usually take care of most minor leaks in a few hours with nothing more than some basic tools and supplies.

Foundation Cracks

As a homeowner, it is important that you check your home’s foundation at least once every few months. When you find a crack in the foundation, you should note where the crack is located and its size. If the crack grows or splinters, then you might have some serious structural issues that need to be taken care of. A contractor should be able to reinforce the foundation and the underlying soil as long as you catch the damage early on. Left on its own, however, foundation damage can ruin your chances at a high value sell.

Damaged Shingles

Your roof protects your home from the elements, and that is one of the reasons why you should never ignore any damage. In addition to having the roof professionally inspected once every few years, you should also take a look at yourself every three or four months. When damaged shingles and tiles aren’t replaced in a timely fashion, you might end up with extensive water damage.

Cracks Around Doors and Windows

Another chore that you should take care of before you put your house on the market is air sealing. When a home isn’t properly sealed, quite a bit of heat transfer is going to take place, and that will drive up the energy bills whenever the HVAC system is turned on. While extensively air sealing an older home often requires a contractor, you should be able to seal up smaller cracks and holes on your own with nothing more than some high-quality caulk and a caulking gun.

Before you carry out any serious home repairs, you should take a closer look at your insurance policy. Your home insurance policy might pay for some or all of the repairs, and that could potentially save you thousands.

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