When a homeowner puts their house on the market, the goal is naturally to seek the most amount of money they can get for the property. In an ideal housing market, the seller would find an interested party quickly and sell the house at an agreeable price. Unfortunately, in tough economic times, it can be difficult to find interested sellers who are also offering a price that’s mutually beneficial.
Vacancy Can Lead to Vandalism and Property Damage
When a home sits vacant for a long time on the market, the likelihood that it will sell decreases. Take, for instance, a case involving a home in Detroit. It was put on the market in March 2013 at an asking price of $139K. In November, it was foreclosed on, and after being boarded up, was put back on the market for just under $55K. Now, however, photos of the listing show things like missing sinks, radiators ripped from walls, and other interior damage. The price difference is significant, as well, listed at 61% less than what it was initially priced at. The problems are vast, especially the cost to the new owner to repair the damage, but also to the homeowner/bank—they are the ones eating the cost decrease. This is, unfortunately, not an unusual situation. Vacancies often lead to break-ins and vandalism, with some criminals going so far as to rip copper wiring from within walls to resell it. It’s helpful to know, though, that you are not simply at the mercy of the community’s honesty when it comes to the safety of your home.
How to Protect Homes from Damage
Protecting vacant properties is relatively simple. Some homeowners and banks choose to simply keep up with regular exterior maintenance to exude the appearance that someone still lives there—after all, a home with an overgrown lawn looks a lot more neglected. However, there are more proactive steps one can take when trying to prevent break-ins, vandalism, and theft. One of those approaches includes installing security for doors and windows. Window locks and door security code systems are helpful, but even more secure are steel security window covers and door guards. These provide an optimal deterrent for people who would otherwise see the home as an easy target, and when dealing with vacant unsold property (that you would eventually like to sell), it’s imperative to present the home in the best shape possible.
