This home issue could wipe £60,000 off your property price - and it often goes unnoticed![]() There’s one major issue that could be wrong with your home but it’s hard to spot and it could knock thousands off the property's value. Terry Fisher, a property specialist from We Buy Any Home, urges homeowners to stay vigilant, as this hidden issue could impact both selling potential and buyer confidence. “Many homeowners don’t realise this issue exists until they try to sell,” he said. “By then, the damage is done, and they could be looking at a significant reduction in their asking price.” The invisible problem Mr Fisher refers to is subsidence - when the ground beneath a property shifts, causing structural instability. While not always visible, it can lead to serious damage if left untreated. “Subsidence isn’t always dramatic cracks in the walls - it often starts subtly,” Mr Fisher explained. “Doors and windows sticking, hairline fractures in plasterwork, or uneven floors can be early warning signs.” If subsidence is detected, the financial impact can be severe. “Buyers are wary of homes with subsidence issues, so affected properties can see a reduction in value by 10% to 20% or more,” Mr Fisher said. “On a home worth £300,000, that’s a potential loss of up to £60,000.” Even for those not selling, repairs can be costly. “Minor fixes may cost £5,000, but major underpinning can exceed £50,000,” he added. If you’re wondering how to spot the signs, early detection is crucial. You should look out for cracks in walls, especially around doors and windows, sticking doors and windows and gaps between walls and ceilings. Other signs of damage include exterior cracks that widen over time and uneven or sloping floors. “Regular inspections can help catch the problem before it worsens,” Mr Fisher advised. If you suspect subsidence, you should act quickly. “Consult a structural engineer or surveyor to assess the issue,” Mr Fisher recommended. “If confirmed, notify your insurer immediately. Most home insurance policies cover subsidence, but delaying can complicate claims.” Preventative measures also help. “Avoid planting large trees too close to your home, as roots absorb moisture and cause ground movement,” Mr Fisher suggested. “Good drainage around your property can also reduce soil shrinkage.” With property values fluctuating, subsidence is an issue no homeowner can afford to ignore. “Being proactive is key,” Mr Fisher said. “Spot the signs early, seek expert advice, and act before it turns into an expensive nightmare. A little vigilance now could save you thousands in the future.” He added: “A professional survey can offer peace of mind and safeguard your biggest investment.” Source link Posted: 2025-05-05 03:01:32 |
|
|
|
|
|
|
|
|