It may or may not be owners’ choice, but when something goes wrong it will surely be the their problem. Let me explain:
- Theft – We’ve all heard the horror stories of crooks breaking into empty houses and stealing the copper plumbing in your crawl space, the ceiling fans hanging from your ceiling, and anything and everything in between. If you have appliances in your vacant house they’re going to take those too. They’ll sell the copper plumbing to a scrap yard and put your appliances on Craigslist. A $3,500 appliance package will be the least of your worries if they are really bold and decide to take your air conditioning unit. That will may cost you up to $15,000 to replace.
- Vacancy Insurance – Let’s hope you informed your insurance company that you moved and you’re leaving your house vacant. Unless you notify your Homeowners Insurance provider and specifically tell them your house will be left vacant, you will not be covered after 30 days of vacancy. You think they won’t know when you moved out? This isn’t the first time the insurance company’s been to the rodeo. Vacant house premiums are costly because of the added risk. If you leave your house vacant it’s not a question of if but when trouble will find you.
- Added Utility Expense – In the summer months in the southern states you must run the air conditioning to prevent the onset of black mold. During the winter months in northern states you must heat the property to prevent pipes from freezing and bursting and to stabilize the interiors moisture content. It’s costly to pay for the utilities but they must be left on to keep the house in good condition. If you don’t absorb that added expense you’re rolling the dice. If your house ever gets black mold, good luck selling it then.
The Real Estate Resources Team at Remax can provide purchase options so you can avoid these costly mistakes. If your house is sitting vacant, we can arrange to take over your monthly payments and maintain the property until we sell it.