One’s home is the biggest investment, and it can be a liability as well, especially if the property is not well-kept and maintained. The challenge for homeowners is to remain on top of things and pay attention to the condition of the property. Any sign of structural problems or damages should be dealt with immediately.
Structural problems come in many forms- it can be gaps between doors and floors, cracks on walls and even cracks and damages on the floor. Some homeowners may see these signs as but natural part of the structure and not a cause of concern, but these signs actually indicate a much deeper problem on a critical part of your property- your foundation. Foundation problems, whether these are cracks or a ‘slight sinking’ of the foundation, can threaten the structural integrity of your home, affect your property’s resale value and even diminish the curb appeal of your property.
Lower Home ValueTaking out a loan with your property as collateral requires home inspection. And if your property has a few structural damages that you aren’t aware of especially on the foundation, then this can decrease the risk of being approved for the loan. Whether you are planning to take out a loan from a bank or you need to sell the property to another party, you actually need a full disclosure of the condition of the property. The solution is to place the foundation under repair before putting the property on sale or before applying for a loan.
Diminished ‘Curb Appeal’First impression lasts according to relationship gurus, and it applies as well to properties for sale. Your property’s visual footprint- the well-manicured lawn, painted walls and secure walls and foundations- can sway a buyer’s preference in your favor. And if your property has cracks in the foundations and the floor, buyers and real estate agents may find it hard to appreciate your property and may select another property for sale. With a diminished curb appeal, the property for sale may remain in the market longer than you have planned for.
If you suspect that your home has floor and foundation issues, your best approach is to work with an expert for a thorough foundation inspection. Simple floor and foundation cracks that measures 1/16” thick can be addressed using DIY foundation crack repair kits. For serious foundation-related problems, a complete professional service from inspection to repair is a must to protect your property for the long haul.