According to the U.S. Department of Agriculture, termite damage occurs in approximately 600,000 homes across America each year. The damage caused by the termites reduces the resale value of the infected house; this loss together with the cost of damage repair runs into billions of dollars. This is of course only the financial loss due to termites. The other factor is the emotional security and happiness our house gives us and the need we feel to keep it safe and well maintained.
How the Value Drops
- The damage caused by termites can be bad enough to weaken the structure of the house. This could make the home unsafe to live in. No one will buy a home in this condition unless it is to demolish it and build a new one. Even in that case the selling price will be very low.
- Termite damage is not always in the interior. Anything wooden on the external façade of the building can be eaten away as well. This can ruin the look of the house and reduce the aesthetic appeal which is always a prime factor when it comes to selling.
- The longer the termites are allowed to remain in a home, the more the damage they will cause. If they have been in the structure for a long duration, the damage they cause and the cost of repairing the damage can be huge. This will be a huge disadvantage to the prospective buyers of the house and they may possibly look elsewhere.
- Termites can damage furniture, furnishings and even papers. The loss of any of these could mean high replacement costs and if valuable papers are damaged, they could be irreplaceable.
- When selling a home, the seller is required by law to disclose any information related to termite infestation or damage to potential buyers. This disclosure agreement usually does not include a time period and even an old infestation that has long since been removed will give the buyer a strong negotiation point to bring down the selling price.
- At the time of inspection, even a very small infestation if found can be enough to drive away the potential buyer or give him reason to demand a lower price.
Prevention Is the Best Course of Action
Regular termite control done by an expert termite control company is the only way to keep your home safe from termites. This is true whether or not you plan to sell it. If you plan to stay on, the house needs to remain strong and secure – it is your biggest asset and you cannot afford to have its value drop. If you are planning to sell, in the near or distant future, the cost of termite removal and damage repair at the time the house goes on the market will usually be much higher than the cost of regular termite inspection and treatment. Keeping your home safe from termites is easy – all it takes is a call to a professional termite control company that offers a warranty on its service.