Environmental Factors That Decrease Home Value | In San Antonio We Buy Houses
In the real estate market, preparations such as foundation strengthening and ground stabilization may not be enough to hold up against natural disasters and other environmental risks that could happen at any time.
This is also true when we talk about the market value of a property. Its home value is determined by taking every marketable potential and risk factor into consideration. To prevent financial complications such as mortgage payment plan changes or low equity, your home’s value should be checked or monitored every so often.
And because of the ugly scenarios stated above, it is important to learn about natural and environmental factors that could pull down the value of a property, or the properties, in your neighborhood.
The Obvious Risk Factors You May Have Missed
Some of the factors that could affect the home value of any property might just be lying around the corner or a few blocks away from where you live. Find out what these are so you wouldn’t have trouble selling in the future when the time comes to sell your house.
Watch Out For Landfills
If you ever find a house that is quite cheaper compared to other properties with the same design, age, and structure, then there must be a good reason for it. Landfills have a negative impact on the housing communities near it or surrounding them. There’s about 5.5% – 7.3% depletion of the property worth in expensive housing areas, while less expensive communities ranges in between 3%-4%.
This often happens due to the environmental risks and health hazards that can be brought on by the ocean of waste. The waste contaminants seep deep in the soil, and may enter water lines through broken or leaking pipes. Not to mention the stench that pollutes the air 365 days a year. Living near landfills could very much propose health risks to the entire family.
This is in reference to places with geographic and geological instability. Places that serve as a basin for flood water to pool in, or where there is volcanic activity, or a flood plain next to a river, or earthquake prone areas which often causes storm surges or tsunamis, or a community that is lying close to a fault line.
Fault lines are often the cause of the most destructive earthquakes, depending on the size and area of the plates. No device has been developed yet that can detect an earthquake before it can hit, but any housing community exposed to these natural calamities can drastically decrease the property worth.
Soil Erosion and Sinkholes
When we talk about sinkholes, its either a gigantic hole that could swallow an entire house or a small hole that can be remedied right away. The sinkhole phenomenon does not happen overnight.
It usually occurs when there is soil erosion or too much underground water, a long process that slowly weakens the ground until it can no longer support the surface weight and collapse. Some sinkholes are due to man-made activities – drilling, mining, and improperly compacted soil after excavation work.
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Are You Suffering From Low Home Value?
While most of these natural and environmental conditions can be detected by modern technology and the damage can be remedied, retrofitted, or compacted right after, there is always a lasting effect on housing communities. Home values seen to plummet down significantly.
Are you currently living in a house with low value? Do you plan to relocate to a much safer area for your peace of mind? In San Antonio we buy houses with low home valuation or in an unattractive location. To anyone who wants to sell house fast in San Antonio, Quick Real Estate Liquidation (QREL) will not hesitate to address the need.
We are a real estate investment firm, serving San Antonio residents. We cater to almost all types of housing issues – bad neighborhood, no equity, liens, etc – we are prepared with a solution and an all-cash offer that is guaranteed fair.
Don’t let unfortunate environmental factors nail you in a compromising housing community. Talk to one of our real estate team members today to end your low home value struggles. Talk to you soon!