A big part of owning a home is maintaining its value. After all, not doing so could end up putting you under water on your mortgage – which is to say you own more than your home is worth. Thus, any little thing you can do to add value only improves your financial position. Repairing damaged concrete is but one example.
Concrete slab repair may not seem like such a big deal when compared to replacing a roof or strengthening a weak foundation. In fact, structural repairs certainly are more important. And yet, a cracked or sinking concrete slab still puts downward pressure on the value of your home. It reduces value by creating a negative perception. The simple fact is that people do not like to see broken and sinking concrete. It causes them to worry.
Wondering What Else Might Be Wrong
Home buyers may not know all of the dirty little details about what causes concrete to sink and crack. But they do know enough to understand that there is some underlying issue going on. Seeing a sinking concrete slab during a home showing only causes potential buyers to wonder what else might be wrong with the property. This is obviously something to avoid.
A sinking slab may be nothing more than the result of underlying soil not being properly compacted before the slab was poured. The rest of the house, and its foundation, are in tip-top shape. Yet buyers might suspect something much worse is afoot; they might suspect the entire lot has settling problems.
As you might imagine, a sinking concrete slab can chase buyers away. That goes double for cracks in a foundation or concrete steps. How does this affect the value of your home? Through the simple law of supply and demand.
How Value Is Determined
Did you know that there is no static formula for determining the value of a home? Appraisers and home inspectors know the general guidelines, including the kinds of things that turn buyers off, and they also know how to compare homes against others in the neighborhood. But ultimately, your home is only worth what someone is willing to pay for it.
You could own the biggest and most beautiful mansion in town yet still have a property that is worthless to buyers. Let’s say an appraiser valued your home at $1.5 million. That is a paper value. If you list the home for a year and the best offer you get is $850,000, that is its value. You either take it or you take nothing at all, in which case you hold onto your property.
The Importance of Concrete Slab Repair
This understanding brings us back to the importance of concrete slab repair. If you have a cracked or sinking concrete slab, it is detracting from the value of your home. Reclaim that value by having the slab repaired. Remember that broken concrete gives potential buyers a poor impression of your property. Your goal is to increase the value by improving that perception.
Rest assured you do not have to spend a fortune to repair sinking concrete slabs or steps. The slab jacking process we utilize is fast, effective, and very affordable. Best of all, we can affect most repairs in just a couple of hours or so.
Remember, the true value of your home rests on perception. You can add value to your home by repairing any sinking and cracking concrete – be it slabs, steps, or the foundation. Concrete repairs improve perceptions which, in turn, increase value. It is no more complicated than that.