Cooling Real Estate Market? Make These Repairs

Are you planning to flip a house and sell it? Or maybe you’re a homeowner that has decided it’s time for a change in scenery? Whatever your reason for selling your home, there are few things as inconvenient as a prospective buyer arguing for discounts because of a problem in your home. Having problems with your home can even turn away some buyers entirely. To further compound on these challenges, the housing market is always fluctuating—sometimes it’s piping hot and homes can sell like crazy, but sometimes it’s a cooling real estate market and attracting the right buyer can be hard. But there are ways to make your home both more appealing to buyers while also giving you the greatest chances at a profitable sale. But what are the home repairs that you should make to help maximize your home’s value and salability?

In a Cool Market, It’s About Return on Investment

Different home sellers have tried different tactics to draw the best paying buyers. From replacing kitchen counters to repainting garage sheds, it’s a challenge to entice a buyer with what they’re looking for in a home.

But if you’re looking to maximize your home’s value and salability, you’ll want to look past the appearance of fresh paint and marble counters and look at the hard numbers. What you’re really after is achieving the highest return on investment. After all, renovations and repairs to your home are not cheap, and your goal is to make the most possible from your home sale.

But to achieve this goal, homeowners should apply more focus on the repairs that offer attractive, long-term benefits to prospective buyers. For a couple examples, some repairs commonly done include replacing or refinishing hardwood floors and replacing carpet flooring.

Below are more repairs that you can do to enhance your home’s appearance, and more importantly, the home’s value….

Foundation Repair

Wet CMU basement wall with efflorescence
Efflorescence marks where water has been leaking through this cement block basement wall. As water evaporates, it leaves behind the salty deposits you see.

While often overlooked, the condition of the home’s foundation is important to the health of the entire home. A foundation experiencing uneven settlement, for example, can lead to a cracked foundation, sloping floors, and even leaning chimneys. Cracks in foundations can also become potential avenues for groundwater intrusion, leading to flooded basements or crawl spaces. Any of these additional problems will mean extra repairs and become a detriment to both home resale value and prospective buyers.

This is especially important for homes that have been around for many years. Older homes tend to bring to mind the risk of structural problems as the house has aged. A foundation that has been repaired of cracks and/or reinforced adds value in several ways…

  • Safety
  • Less concern for the buyer about future repairs needing to be made to ensure that safety
  • Less worry about the potential for water leaks because of foundation cracks

Basement & Crawl Space Waterproofing

While waterproofing your basement or crawl space doesn’t add anything glamorous to your home’s appearance, it adds massive value to your home by preventing water from invading the home’s lower level.

According to a collection of studies, iPropertyManagement reported that “98% of basements experience some sort of water damage … the average home insurance claim for water damage is $11,098 … Nationwide, household water damage costs up to $20 billion annually.”

Imagine a household having to deal with those kinds of repair costs every year due to water getting into the home via the basement or crawl space? Especially in a cooling real estate market, any savvy home buyer will be looking to see if your home has proper waterproofing to prevent these kinds of costly damages from water intrusion.

Encapsulated crawlspace with a HumidiGuard dehumidifier installed
Along with our tough vapor barrier lining, our Energy Star rated HumidiGuard dehumidifier provides extra protection against unwanted moisture!

Crawl Space Encapsulation

If your home has a crawl space, considering investing in crawl space encapsulation to create added value to your home. Not only will it help protect your crawl space and home from moisture-related problems, it also can create a clean and usable area for the homeowner. Encapsulated crawl spaces have been used as extra storage space, play areas for children, and even indoor gardens.

Couple with long-term protection against outside air and moisture, by opening the doors of possibility with crawl space encapsulation, you can improve the value of your home. Ultimately, this can make a home more attractive, even in a cooling real estate market. Crawl space encapsulation can also be done alongside crawl space waterproofing—each of these steps can increase your home’s value.

Reach for Higher in a Cooling Real Estate Market with ‘58!

Since 1958, hundreds of thousands of homeowners have counted on ‘58 Foundations & Waterproofing to enjoy dry basements and crawl spaces as well as keeping their homes standing on strong foundations. With quality products like our specially-engineered Channel ‘58 drainage channels and ‘58 Strong Helical Piers, homeowners can breathe easy knowing that their foundations and lower levels are well-protected for many years to come.

Cracked foundations, wet basements, and moldy crawl spaces all can detract from your home’s re-sale value. But by investing in a solution by the experts at ‘58, you’re not just fixing the problem, you’re giving your home long-lasting protection against those problems in the future. What home buyer can say no to that?

Home inspections are a large part of the home buying process. The condition of your home’s foundation and lower level can have a great impact on what the inspectors report. Give your home the best chance when you repair it with ’58!

We have local offices all throughout the Eastern Seaboard. Whether you live near Atlanta, GA, Chattanooga, TN, or Burlington, NJ, you can always count on ’58 for your foundation repair and waterproofing needs!

Contact us today to schedule for a free inspection and to receive a detailed estimate! We’ll be happy to address any of your home’s foundation repair, waterproofing, and mold removal needs!

Sources:

Water Damage Statistics

https://ipropertymanagement.com/research/water-damage-statistics

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