Written by Lewis Ridley
Updated over a week ago
Subsidence is a serious issue which can drastically impact a property. But how much can subsidence actually decrease the value of your property?
Subsidence can, on average, devalue a property by 20%. However, this percentage fluctuates depending on the severity. If the issue is particularly severe, the subsidence could even bring the property down by 100%. Making it unsellable.
Subsidence devalues a property because of several reasons. Firstly, prospective buyers don’t want to deal with the issues subsidence causes and it’ll often taken a lot of money to rectify the issues. Secondly, subsidence can make a property unmortgageable, making it only available to cash buyers.
Continue reading to learn more about subsidence and how it can impact your property.
Subsidence is a when the ground under a property starts to sink. When this happens under a home, it can cause detrimental issues to the foundations and structural integrity of the house.
The signs of subsidence are difficult to spot, as they can sometimes be ruled out as common issues. Especially when it comes to old properties. Additionally, signs might not start cropping up immediately, so you could be living with subsidence and not know it for years.
Here are some tell-tale signs your property could be suffering from subsidence:
- The house is starting to look wonky or slanted
- Doors start getting harder to open and close
- Cracks near doors, walls, and are visible both internally and externally
- Cracks appearing between a property and an extension
Again, some of these signs are just simple wear and tear issues that happen to properties over time. They might not be related to subsidence. Still, get a surveyor out to check to give yourself peace of mind.
Yes, you can fix the damage and underpin the property the make sure the subsidence is stopped and prevented in the future.
The first task when it comes to fixing subsidence is to tackle the cause. This means fixing a leaky pipe or dealing with tree/root problems. Once this has been completed, the foundations will need repairing and reinforcing with a form of underpinning. This can be quite a costly job if the damage is severe.
Underpinning properties helps support and reinforce properties at their foundations. The full extent of what underpinning is and how much it costs escapes the scope of this article.
However, there are different types of underpinning to choose from when you’re dealing with subsidence:
- Mass concrete underpinning
- Piled underpinning
- Mini-piled underpinning
- Resin underpinning
- Beam and base underpinning
- Group injection underpinning
Once you’ve installed the underpinning, you also then must fix the issues the subsidence caused. This include cracks, slumping, and door or window frames that may have been affected.
Underpinning doesn’t tend to affect the house price if it has been done to a good standard and has stopped any subsidence. It also won’t impact a buyer’s ability to get a mortgage on the home either.
To learn more about underpinning and how it can impact your home, see our knowledge base for more information.
Subsidence can reduce a property’s value by an average of 20%. However, if the property has experienced very severe subsidence, it could be completely worthless and unmortgageable.
If you think you have subsidence or need to assess a property that might, get a survey involved. They’ll be able to check the structural integrity of the building and assess the damage.
As always, if you want more useful information like this, see our knowledge base for more.
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