A housing bubble, by definition, is when prices for real estate rapidly increase followed by a sharp decline in value for those same properties. The last time it happened, the housing market saw people walking away from mortgages they couldn’t afford to pay and vacant residences were on the rise. Empty homes, condos, and apartment buildings can sit for months or even years while their owners wait for the market to bounce back, but in the interim, those buildings become a target for crime.
Unprotected and Uninhabited
When housing bubbles occur and people find themselves paying for mortgages on a home that no longer holds the value they paid for, some owners will choose to simply walk away from the house, moving into a rented apartment and refusing to pay their mortgages. This, of course, leads to homes going into foreclosure and homes being left empty for many months at a time. When this happens, the properties become targets for vandalism, crime, and theft, since criminals notice that no one lives there or comes by the premises. Some people may want to use a metal window board up system to make their properties look like less of a target, or at the very least, to prevent unwanted guests from being able to break in.
How Can You Avoid Damage to a Vacant Home?
Avoiding damages to a vacant home, whether the owners are going to come back or not, is a priority for any property owner. Banks that have a large volume of vacant properties to deal with may consider using a door guard system on each home to keep criminals out of the premises, while larger properties may benefit for from a metal window board up, to seal off any entry point. Maintaining the area around a vacant property can also help. Mowing the lawn, making sure yards are clean, and not letting the building itself deteriorate are all ways that owners can make their homes less of a target to vandals or thieves.
If you need help with protecting property, consider implementing a door guard system and other security measures. DAWGS, Inc. has all you need to rest easy.
