Termites are small creatures that can wreak havoc in your home. If you’re dealing with these nasty pests on your property, chances are, you’re not alone. Statistics from the U.S Department of Agriculture report that more than 600,000 homes suffer from termite-related damages every year. The average termite infestation welcomes an influx of expenses related to repairs, pest control treatment services, and termite inspection costs.
Do Termites Devalue a Home?
Because these household pests terrorize your property and gnaw on vital wooden structures, these termites with an insatiable appetite can significantly reduce your property’s resale value.
If you intend to sell your home in the recent future, consider having it inspected to identify any signs of termite infestation to prevent a financially-crippling outbreak. If a potential buyer discovers that wood-munching insects are running rampant in your home, they may back out of the sale and continue their property search elsewhere.
Six ways termite damage can negatively impact your home’s value
1. Weakens your house’s structure and reduces its appeal
Despite their small size, termites are relentless when satisfying their appetites with the contents of your home’s wooden structures. As these termites extract cellulose from your house’s support beams, these household pests cause severe damage and weaken your property’s structural integrity.
Termites can also affect your home’s aesthetic appeal, turning away potential customers. If your property can’t attract a buyer, it can significantly affect the house’s retail value, forcing the homeowner to compromise significantly on the asking price. However, the good news is that many pest control professionals like Moxie Pest Control can treat termites in your home to promote safety in your living spaces and boost its resale value.
2. Create a negative market image
Termite infestation will not only affect your house’s structure but will also affect the house’s appearance. Generally speaking, making a great first impression is the key to capturing potential buyers’ attention and securing a sale. If your property isn’t appealing, not many customers won’t be interested in buying them. However, if you keep your home in tip-top condition, chances are, it will attract a crowd of high-paying buyers.
Knowledge of a termite infestation will affect buyers’ perception of your property and scare away prospects, making the selling process a nightmare. Because the extermination process can be time-consuming and extremely expensive, no buyer wants to spend the first few weeks of their homeownership tending to a termite infestation. To ensure a quick sale, treat the infestation before putting your property on the market.
3. Increases repair costs
Buying or constructing a home is a significant investment, which means it needs to serve a homeowner for an extended period. Any frugal property owner will strive to limit maintenance costs whenever possible. Not treating termite infestations in time can result in expensive repairs and renovations that the new owner will have to assume responsibility for.
Remember, termites chew your home value to shreds as a result of unexpected property damage. When your home looks unappealing, your house’s value will depreciate. With your property value at risk, it’s essential to hire a reputable pest control professional to maintain your home’s condition and boost its resale value.
4. Damages furniture
Termites have an affinity for any of your home’s wooden structures. Plus, their appetite is insatiable. If they target your furniture, they can whittle down armchairs, side tables, and ottomans. While these household pests favor wood fixtures, they’ll gnaw on your carpets, essential papers, and any highly-fibrous material with high cellulose content. These termite-related damages can lead to additional expenses in terms of repairs and future purchases.
When selling your home, you’ll need to disclose your home’s history and any information regarding current and previous termite infestations and inspections. These documents will help appraisers calculate your home’s value and determine how much the termite damage will affect the cost.
5. Reduce the value of your house
Experts estimate that termite damage can reduce your property’s value by about 20 percent. Homeowners may face more significant reductions if the infestation isn’t discovered and treated in its early stages. The amount of time elapsed before performing pest control treatment will directly correlate with your home’s resale value depreciation. Treating your property at the first sign of termite damage will help a homeowner maintain its value.
However, before you begin repairing termite-related damages to property, you’ll need to draft a plan to prevent termite infestation and keep your home looking brand new. Household pests can age your home tremendously, which can repel potential buyers.
6. Affects your house’s real estate value
If you’re planning to sell your home, you should keep in mind that you must provide your property’s history to prospects, potential buyers, and appraisers. All relevant parties need this information to estimate the value of your property.
Since termites usually cause adverse effects and diminish a property’s resale value, this will affect appraisal calculations and will also give potential customers a bargaining chip when negotiating prices.
Termite infestation in your home can cause severe consequences, such as damaged furniture and reduced resale value, making it extremely important to find an effective way to ward off these household pests. You can request a termite inspection from a pest control professional team to assure buyers your home is pest-free. Along with performing a termite inspection of your home, ensure you provide documentation of all treatments, assessments, and pest mitigation procedures.