Water damage is one of the most prevalent and costly problems in homes. It can happen to any home, whether new or old, regardless of location. Water can get into your basement through cracks in foundations or walls, broken pipes, soil erosion, or drainage issues near the house. Water then causes mold to grow, leading to other health issues like allergies and asthma attacks. But you might not realize that even a tiny leak in your basement could be causing big problems for your home’s value!
1. A Leaky Basement Will Drive Down The Value Of Your Home
If you have a leaky basement, it can cause extensive damage to your home. Water damage is one of the most expected reasons for homes being foreclosed on, as mold can form from the moisture and cause health problems for residents.
A leaky basement has been shown to negatively impact property values. A 2016 National Association of Realtors study showed that homes with a leaking basement lost 30 percent more value than those without one over five years. It’s possible that this was because homeowners did not want to invest money into fixing their leaky basements since they would be selling soon anyway. Still, it could also be because buyers didn’t see much value in such properties–or even thought there was something wrong with them.
2. It’s An Unseen Cost That’s Not Reflected In The Re-Sale Price
The cost of repairing a leaky basement is not reflected in the home’s sale price. This can be a problem when you’re trying to sell your home and don’t want to explain why it’s taken longer than expected for your home to sell
3. A Bad Sump Pump Is A Main Culprit
While most basement flooding is caused by seepage through cracks in the foundation, a leaky basement can also result from a faulty sump pump. Sump pumps are the most common cause of basement flooding. They’re prone to failure and often not installed or maintained correctly.
Sump pumps are typically installed in basements with lower levels than those found above ground. This means that if you have a crawlspace beneath your home, water can seep into it from above, making its way through your foundation walls into your basement. This can potentially cause leaks and damage and put your home at risk for mold growth and other issues related to humidity control (your HVAC system will appreciate this!).
4. The House Becomes Less Attractive To Buyers
- A leaky basement indicates that the house has other issues, such as foundation problems.
- If the house has a leaky basement, buyers will be less likely to buy it because they don’t want to deal with fixing something that requires more time and money.
5. Construction Issues Can Come Back To Haunt You
While you may be eager to move in and start enjoying your new space, there are a handful of things that you need to consider before making any decisions. You want to be sure that any problems with the basement are resolved and that the area has been properly waterproofed. Otherwise, you might face issues down the line, especially if you plan to sell your home in the next few years.
For example, suppose a previous owner had a leaky basement or shoddy construction work on your property. In that case, it could lead to structural damage over time (which many potential buyers would not appreciate). If this happens, there’s no way of knowing when or where such issues will arise—and how much money it will take to fix them—so it’s best to avoid this situation by getting everything checked out beforehand!
6. Property Damage Due To Water Is More Common Than You Think
While homeowners may overlook water damage on their own, it’s not uncommon for home inspectors to discover hidden damage from water leaks. Water damage can be hidden and not apparent to the naked eye; this is why a professional inspector should be hired to inspect your home during the sale process. Water can enter a residence via:
- Cracks in the foundation
- Cracks in walls or ceilings
- Missing roof shingles or tiles
Get your basement water issues fixed before you put your house on the market, and save yourself some headaches!
If you are going to put your house on the market, it is essential to remember that buyers will decide based on what they see and feel when they view your home. If there are issues with the basement, those problems will be immediately apparent and may reduce the chances of a sale.
This is why it’s essential to repair any water damage-related issues before you put your home up for sale! It can be costly to fix later on, so don’t wait until after it has already been sold. You want nothing more than for potential buyers to fall in love with your property as much as you did when first looking at it!
When it comes to your house, you want to ensure everything is in good condition before putting it on the market. If there are water issues with your basement, you’ll want to get those fixed immediately so you can save yourself some headaches!