Financial Implications of Termite Infestations: Economic and Resale Values

The Economic Costs of a Termite Infestation

Each year in the United States, termites cause substantial damage to buildings, resulting in over five billion dollars of financial losses and affecting more than 600,000 homes. Missing the signs of an infestation can result in extensive property damage that is costly to repair. This is only part of the story, though, and termite infestations can lead to significant financial strain.

The Direct Costs of Termite Damage

When termites infest a home, the immediate cost is that of intervention by a professional termite control company. Termite control experts can eradicate a termite infestation, but catching it early is the key to completely eliminating the colony. The cost of termite treatment will vary, depending on the extent of the infestation, the type of termite, and the size of your property. Once the treatment has been employed and the damage assessed, the next step is repair. If the termites have not been discovered until they are firmly entrenched, repairing the damage can be time-consuming and expensive, particularly if the home’s structural integrity has been compromised. Not only that, but there is often an added expense, as homeowners may need to temporarily relocate while the work is being done. Consider this: termite infestations are not typically covered by homeowners’ insurance, so the homeowners must fully bear the brunt of the cost of the treatment and repair.

The Impact of Termites on Home Resale and Property Value

Much of the financial loss of a termite infestation does not immediately occur, however. In the long run, termite infestations can greatly reduce the property value of a home. In fact, homes with a history of property damage usually suffer a decrease in property value of about 20 percent. The hit on the homeowner’s wallet is not the only consequence, however. Termite infestations can affect real estate markets, and in areas known for termite activity, the property values are often significantly reduced.

Preventing Termite Infestations

Some homeowners resist regular termite inspections and preventive treatment, seeing this as too costly an investment. Understanding the costs of a termite infestation shows that the proactive action of investing in termite treatments will save an immense amount of money in the long run. Staying ahead of termites can prevent damage to your home, and when you decide to sell, a history of diligent pest management will show buyers that the property is well-maintained, increasing its appeal and marketability.

Trust the Termite Professionals at MightyMite Termite

For termite control in the Bay Area, call the termite control professionals at Mighty Mite Termite Services for a free inspection. At Mighty Mite, we’ve earned a reputation as experts in Bay Area termite control. We perform termite inspections to ensure that your home is free of termites and work hard to help you keep it that way, using termite treatments that are naturally derived, eco-friendly solutions. Understanding that your home is your most important investment, we work hard to provide excellent service, utilizing best practices to solve our customers’ termite problems. For more information, email Info@mightymitetermite.com, call us today at 408.335.7053, or contact us through our website.