Drive thru any neighborhood in Fayetteville, NC, or any other city for that matter, and you are bound to see an empty house. The reasons are vast: owner passed away and family doesn’t know what to do with it, got a new job and had to move quickly, tenant moved out and landlord doesn’t have money for repairs, casualty of a divorce, and so on. But is leaving the house vacant month after month a wise move? Let’s dive into the impact of having a vacant property.
- Bills, Bills, Bills – Even if the house is empty, property taxes still need to be paid. Insurance needs to be paid. Mortgage and utilities still need to be paid. And if the house is deteriorating and lawncare isn’t being kept up, rest assured you will eventually be fined by the city.
- House Will Quickly Deteriorate – Think of all the little things you do around the house daily. Keep it clean, tighten a doorknob, keep it temperature controlled, repair leaks, keep insects out, etc. Nobody is around to do that in an empty house. A house that that is empty quickly begins to run up a long list of issues. Bugs, mold, cracks, leaks, busted pipes, etc. pop up out of nowhere resulting in huge maintenance the longer these issues are allowed to linger.
- Crime Magnet – Troublemakers love empty houses. Wiring will be ripped out of the walls for their copper, appliances and heating & air units will be stolen, teenagers will smash counters, and squatters and drug users will find a new place to call home. Pinkerton had an excellent article on the subject of Vacancy and Crime | Pinkerton
- Angry Neighbors – Nobody wants to live near an empty house. All the above reasons result in the quality and value of the neighborhood to decline which will greatly upset the neighbors.
So, what can you do about it? If you are wanting to sell the house quickly without having to spend money on a bunch of repairs, contact Bright Buys Real Estate for a no-obligation cash offer and avoid the headache of owning an empty house.