3 Types Of Home Damage That Can Destroy Your Property Value

Written by Posted On Monday, 23 April 2018 15:21

Your home’s equity may be a major asset, and you understandably want to protect this asset over the years. As your property value increases and your mortgage balance is reduced, the equity will grow.

However, there are some relatively common types of property damage that could result in a sudden and steep decline in your property value. These are some of the more significant types of property damage that may affect your home’s equity over the years.

Water and Mold Damage

Water damage is most often associated with a major flood, but it can also be caused by a leaking pipe, a damaged appliance and other factors. Any sign of moisture in the home should be addressed by a professional as soon as possible.

Mold growth can begin quickly, and it can increase the cost of repair work. Mold can also be dangerous for you and others to come in contact with. Because of the stigma surrounding water and mold damage, many buyers will not even consider buying a home that has been affected by these elements.

Pest Damage

Pests love to take up residence in your home. This includes pests like termites, bed bugs, carpenter ants and more. Some of these pests destroy the home, and others can cause serious illness to the home’s occupants.

Squirrels, rats and other critters may also enter the space. These bothersome pests can chew wires to cause a house fire. They can destroy insulation, chew support beams and spread serious and even deadly illnesses. Regular servicing from places like Premier Termite & Pest Control is an excellent way to reduce the chance of any type of pest infestation.

Foundation Damage

The condition of your entire home’s structure is based on the foundation that it rests on. Foundations can be damaged by excessive erosion, soil settlement, earthquakes and many other factors.

Many people are not aware that they have a foundation problem until after they list their property for sale. This means that the foundation issue may have grown and become even more significant because it was not addressed quickly. Scheduling an annual foundation inspection is a great way to reduce the chance of having serious foundation issues.

Keeping your home well-maintained requires your regular attention and the services of various skilled professionals. Now that you understand more about the many types of damaging forces that could detract from your property value, you can take preventive steps to protect your home and your property value from damage.

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Kara Masterson

Kara Masterson is a freelance writer from West Jordan, Utah. She graduated from the University of Utah and enjoys writing and spending time with her dog, Max. Kara is the youngest of four. She has two hilarious brothers and one beautiful sister. She also is the aunt of 4 crazy little girls that she loves more than anything!! Kara is not yet able to be a mom, but she loves being around kids and being like a second mom to her nieces. She dreams of the day that she can start her own little family.

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