Have you ever watched a movie or TV show that featured an eerie, abandoned house? The portrayal of such houses often includes creaky doors, shattered windows, cobwebs, layers of dust, and other haunting elements. Have you ever found yourself as the owner of a vacant house? These properties are sometimes inherited, or they could be rental homes that failed to find tenants. Alternatively, they might be places you had to leave behind as you moved on to a better chapter in life.
In this article, we will explore the dangers of neglecting a house until it reaches a state of irreparable decay, rendering it an unviable asset.
The most dreadful of scenarios? None other than a haunted house!
Did you know that in the United States, one out of every sixty-five residential properties is vacant? These abandoned and neglected “haunted looking houses” are causing a multitude of issues. The problem of vacancy has been on the rise in York in recent years.
When extensive damage makes it economically unviable to address the issues, homeowners often resort to a common strategy. This is particularly true when homeowners have a strong attachment to their homes and wish to preserve them, or when they have grand plans for improvements but are yet to act upon them.
It’s not uncommon to get caught up in the busyness of life and push property repairs or management to the back burner. However, it’s crucial not to underestimate the financial consequences of procrastination. Delaying necessary actions may result in unnecessary expenses.
Failing to utilize a vacant property as a valuable asset is akin to leaving your retirement savings unattended on the sidewalk, vulnerable to anyone who stumbles upon them.
If your home is vacant, be on the lookout for the following warning signs. Failing to take action could lead to debt, property loss, or even legal trouble.
Likely Problems Caused By Vacant Houses
Houses left vacant for extended periods of time can face a myriad of potential issues that are common in such situations. While it may be tempting to assume that an unoccupied house is immune to problems, this is far from the truth. If you happen to own a vacant house, it is important to be aware of these potential problems and remain vigilant.
Vandalism
An empty home can be a treasure trove for potential thieves, reminiscent of California in the 1800s. To deter intruders, it’s important to make your home appear occupied. However, once it becomes known that a home has been abandoned, it’s only a matter of time before it falls victim to a break-in.
Thieves often target valuable components like copper wiring, HVAC systems, and kitchen appliances. The loss of these items alone is already costly, but thieves may go further by breaking walls and removing fixtures to access them. This turns the situation dire, requiring extensive structural repairs to restore the home.
Even if nothing is stolen, troublesome individuals may enter your home and cause damage through vandalism or the destruction of items for their amusement. When they see that no one respects the home, they question why they should either.
Someone Could Start Living There
While York is generally considered a safe place to live, the city is currently facing a homelessness crisis. This presents a challenge for the approximately 450 abandoned or vacant properties within the city.
If left unattended, these properties may become occupied by squatters for an indefinite period of time. This, in turn, can lead to significant damage and deterioration. Squatters are unlikely to take proper care of the property, exacerbating its decline.
Evicting squatters once they have settled in can be a complex and arduous process. In certain cases, if they refuse to leave, they may be permitted to remain. What’s worse, if squatters have resided in a property for an extended period, they could potentially establish a legal claim to it.
The House May Get Damaged Costing Thousands of Dollars In Repairs
Proper maintenance and care are essential for homes to remain habitable. Neglecting this fundamental requirement can lead to significant and escalating damage.
One major cause of expensive damage is water. Whether it’s a burst pipe, a faulty water heater, or a damaged roof or gutter, any breach can result in water infiltrating your home, causing structural and interior harm.
Failure to maintain heating systems can also lead to serious problems, including fires. Additionally, vacant properties face the added concern of arson, with potential squatters posing a further risk.
Another common issue associated with vacant homes is animals invading and causing havoc. A door left open, a shattered window, or even an opportunistic animal can cause extensive damage. In Central PA, termite infestations pose a significant problem, particularly for older wooden houses, requiring regular treatment.
Maintaining a home is crucial to prevent these issues and ensure a safe and comfortable living environment.
Liability
Even if you are not residing in or actively overseeing your property, you still bear responsibility for any incidents that take place there. In the event of an injury occurring on your property, you may be held accountable for any resulting damages. Likewise, if a neglected property leads to a fire or explosion that causes harm to individuals or damages other properties, you will be held liable for the consequences.
Property Expenses
Despite the absence of occupants, government fees are still applicable to your vacant property. You will continue to bear the same expenses as you would with any other owned property. These expenses encompass:
Taxes: Regardless of occupancy, property taxes are still applicable, meaning you will owe them.
Fines: Failure to comply with city codes may result in fines being imposed for vacant homes that do not meet the required standards.
The bank will not reduce your mortgage payment if you neglect the maintenance of your home. Regardless of whether you live in the property, you are still obligated to make the same mortgage payment.
Failure to pay your bills on time and in full can lead to penalties or even imprisonment. It may also result in the forfeiture of your property to the bank or government.
How To Make Money Quickly On A Vacant House in York
In addition to the aforementioned issues, leaving a home vacant is a wasted opportunity for a valuable investment and potential income source. While you might perceive your empty house as worthless and unsellable, the truth is that you have the chance to quickly convert it into cash.
Even if you lack the financial means to repair or rent out the property, selling it to a reputable real estate investor can bring you a substantial cash infusion and a return on your initial investment. At Awakened Home Buyers, we specialize in helping homeowners turn their vacant houses into quick cash. Whether your home requires major repairs or extensive cleaning, we are interested in purchasing it.
If you have a vacant house in the York area and are interested in transforming it into cash, we invite you to learn more about our services and how we operate by clicking here. Rest assured, there are no fees, closing costs, or commissions involved. Typically, we can provide an offer on your property within 24 hours, and if accepted, we can close the deal in about a week. Reach out to us today to speak with one of our friendly professionals.To gain further insight into our reputation for professionalism and fairness, you can read some of our reviews by clicking this link. We value your trust and hope to hear from you soon. Don’t hesitate to call us at 717-690-1055.