Will a Poor Foundation Decrease the Value of Your Home?

The process of selling a property can be time-consuming and stressful, even with the help and assistance of a letting agency. After all, there are a number of different factors to take into consideration, such as the condition of the property, which can influence the asking price that you’ll be able to list it for on the market. Here at Rhino Piling, we know how daunting it can be to have potential buyers discuss the value of your home which is why we recommend that you carry out your own inspections beforehand to obtain a realistic price. Read on as we explain why poor foundations could affect the value of your property…

Did you know that a residential home with existing foundational problems can influence the way that your property is perceived on the market? After all, there are certain issues that potential buyers like to avoid when searching for their ‘forever home’ and it is not uncommon to have an inspection carried out by an external professional before putting in an offer. This allows buyers to get an understanding of the current state of the foundation, however the results also end up taking homeowners by surprise who are unaware of the true condition of their property.

In these situations, a potential buyer needs to weigh up the cost of rectifying the foundational issues with the overall cost of the property itself. Since a poor foundation is a big project and a lot of responsibility for buyers to undertake, it will ultimately affect the value that the property maintains on the market as the demand for the home may decrease.

This may happen in a number of different ways. For example, the buyers themselves may put in a reduced offer in order to take the cost of foundational work into consideration or the letting agency themselves may reduce the asking price. In order to avoid unexpected situations like these, it may be wise to ascertain the current condition of your property prior to putting it on the market and consider rectifying any foundational problems in advance. After all, a brand-new foundation may even increase the value of your property!

It pays to be prepared when putting your home on the market as every homeowner wants to stand out amongst the crowd and make the best impression. With this said, foundations that have seen better days or even the existence of subsidence may end up costing you as potential buyers may put in a lower offer in order to negate the cost of fixing the problem. As the best piling company around, we recommend that you look into the benefits of dealing with it beforehand. Get in contact with the Rhino Piling team to find out how today!