The title of this entry comes from a great article on Trulia’s (www.trulia.com) blog called “8 Home Issues that Scare Off Buyers” from November 10, 2016. I wanted to expand a bit on its’ list of “scary” items. They included issues of:
- Doors and windows
And we agree that in my business and personal experience, these are all serious homeowner concerns.
The greatest general fear for anyone is fear of the unknown. This is really true with purchasing a home – likely the largest purchase you’ve considered to date. And these items are scary because you can’t see the specific condition (items #1, #2, #5, #7,and #8). For others, you don’t know how to “do-it-yourself” (all items). Being able to see the possible issue, and knowing how to deal with them makes the risks more acceptable.
Cost is another factor. Items considered to be a “big ticket item”, are likely less within your means after a large down payment and paying closing costs on a new home. And there’s never a good time for making a large cash payment.
What issue is missing from this list?
We have conducted surveys of home buyers and current well owners. We feel that another significant SCARY ISSUE should be added to the list. This one is owning a residential water well. A vast majority of buyers and sellers have fear about how a well will affect the transaction.
We conducted surveys separately in 2005 and again in 2015. Both confirmed that over 65% of home buyers and well owners have significant or serious concerns about depending on a water well for their family’s supply of fresh water.
The most skilled do-it-yourselfers can’t complete a well repair. They certainly should not attempt to drill a new well themselves! In fact, the entire system is virtually invisible. Dozens of parts are beneath the ground and down in the well itself, leaving most well owners scared about what might break. This makes them worried about how to deal with the certain and sudden crisis of not having any water. And frequently well repairs are costly as well as disruptive to daily life.
An average well technician visit now costs over $900, with pumps costing several thousands of dollars and a new well costing in the tens of thousands of dollars. VERY SCARY indeed.
Costs for all items on the original list can be estimated. And estimates or quotes can be provided for fixing them all. The same is not true for wells. Costs of repair or replacement can’t be quoted until AFTER the well repair or replacement.
What can help?
Inspections help buyers with knowledge about the current conditions with respect to all “scary” matters. Also, home and termite warranties serve to alleviate the fears of several of these items.
This is why WelGard® was designed and developed. Eliminate fear; “Take the Worry Out of Owning YOUR Well”. WelGard® Protection Plan will eliminate the specific concerns about running out of water, suddenly having no water, or facing a large well repair bill. Because WelGard® protects the buyers from all concerns about their water supply. We have been told that WelGard® makes them feel like they live on city water, for a fraction of the cost of municipal water supplies. That is Well-done!
Become a Member today