Do Termites Lower Home Value?
WouterTermites are a pest that gnaw on the wood structure of a home, and can cause structural damage to a home. This can lower a home’s value, and make it less attractive to buyers. A good home inspector will tell you if your house is infested. If so, a treatment plan is essential.
If your home has been infested, you need to disclose this to any prospective buyers. This is called a Residential Seller’s Property Disclosure Statement. It explains the history of termite activity on the property and any previous termite treatments.
Generally, it is not a deal breaker, but some prospective buyers might want to include it in their offer. The amount of damage will be a factor when assessing the value of the home.
Depending on the severity of the infestation, your home’s price may drop by up to 20%. If you don’t treat the problem, it will continue to worsen, reducing the value of your home.
Having a termite inspection before listing your home will help you identify major issues before you begin marketing your home. Often, the cost of a pest control service will be paid for by the sale. This can be a great way to boost your home’s value and keep your home safe from future termite problems.
If you aren’t sure how to find a qualified pest inspector, look online for reviews. You can also ask your realtor for recommendations. Once you have an inspector, he will send you a report detailing the extent of the pest problem and the next steps to solve it.
