The reasons for vacancies may vary, but vacant houses are almost always a headache for the owners because expensive problems often lurk inside homes that have been unoccupied for some time.
Problems that come with owning a vacant house
Vacant houses tend to be magnets for vandalism, criminal activity, trespassers, and plenty of unwanted attention that can bring down the neighborhood’s property values. There is also the legal and financial liability you could face if a trespasser gets hurt!
On top of all that, you as the owner also have the burden of maintaining the house – you may find yourself shelling out way too much cash for utilities or repairs to keep the house in good condition, or risk the expense of violations, fines and liens being levied against the property.
Vacant homes can suffer from a wide variety of ills due to neglect, and/or deferred maintenance. So you will also need to make sure you are regularly checking for problems like broken water pipes, water damage, hazardous mold, stolen copper wiring, damaged appliances, and code enforcement violations, all of which can become very expensive issues if they go ignored for too long.
Homeowners insurance is another important consideration that comes with owning a vacant house. A homeowners insurance policy may require a vacancy endorsement (another additional expense) if the home will continue to be vacant for more than 30 days. So, to make matters more stressful, if you don’t change your homeowner’s policy in a timely manner, you may lose your insurance coverage if your property is damaged after being vacant for over 30 days.
So what’s the best solution?
If you want to free yourself from the issues that come with owning a vacant house, you should be doing everything you can to keep the property free of crime. Let your local police department know you have a vacant house so they can keep tabs on anything suspicious. Install a security alarm and make sure all locks on window and doors are unbroken.
Also make sure you keep the property maintained to the best of your abilities. Mow the lawn and handle all landscaping needed to make the house appear occupied. The best thing you can do if you have a vacant house is regularly visit it and do your best to keep maintenance up. Check smoke detectors, A/C systems, roof, plumbing, appliances, electrical systems, etc. routinely to ensure any preventable problems are stopped in a timely manner.
What if you’re tired of dealing with the problems that come with a vacant house all together?
If you don’t want to spend more of your time and money trying to maintain the home, we can help!
Contact us at M&N Investment Properties today, and let us deal with the issues that come tied to vacant homes. We’ll make you a no-obligation, cash offer for your vacant house no matter the condition, situation, or repairs needed. No commissions, no fees, no high pressure sales tactics!
Our team of experienced professionals has helped hundreds of homeowners with a fast, simple process…and we can help you too!