You are here

Determining the Value of Leaky Homes

There can still be a certain perception and stigma associated with leaky homes. New Massey University research, due to be published in early 2017 has found there is still a public perception that sees monolithic clad homes as being problematic.

Operations manager northern for QV, Jan O'Donoghue, says determining the market value of any property is a matter of working out the amount a property would exchange for between a willing, well-informed buyer and a willing, well-informed vendor.

With a leaky home, the secret to its value is knowing how much it will cost to rectify. This can vary hugely from one home to the next, says O'Donoghue.

Homes in developments where all the properties have required similar levels of remediation work and the actual cost is known is helpful when it comes to making a valuation. Or if there have been recent sales within the development,that allows a direct sales comparison to be made.

Putting a value on a leaky home is more difficult where there is no sales evidence, O'Donoghue says, and when the cost of repairs is unknown.

As a leaky home owner you can help make the sales and/ or valuation process easier by finding out the costs of recladding yourself, including the building costs, council costs, and site development. Once you've received the quotes and the remediation costs are known it's possible to come up with a market value.

You may also want to consider arranging leaky home repair specialists like Surecoat to do the remedial work for you to increase the property value and help get the best sales price. Getting a trusted home proofing specialist like Surecoat on board will reduce your stress and help you make the best, most informed decisions, so get help early.