Fix Water Leaks Before Putting Your Home on the Market

This week I met with a gentleman who will be listing his home for sale in Glenview. As he showed me around the basement, he mentioned that there was a leak in a corner about twice a year when it rains hard for a couple of days. He wasn’t getting it fixed.

I advised him to at least get an estimate for the repair and explained how buyers would react to the leak which he would need to disclose. First, many buyers won’t even consider buying a home with a leak in the basement, even if it only leaks after a hard extended rain. Second, excess moisture in a basement can lead to mold which will scare off even more buyers.

Yes, it takes time to get estimates and costs money to have the work done, but the payoff is a higher sale price and a faster sale. In this market, buyers expect even older homes to be like new. When the gentleman and I spoke the next day, he informed me that he decided to have the leak repaired. He hadn’t wanted to bother with it, but after some thought realized it probably won’t cost as much as he thought.

ABOUT THE AUTHOR

Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More