While they may be “man’s best friend”, dogs can have a negative impact on the value of your home; especially if they happen to have separation anxiety. There is a hidden cost having dogs in a home you own, far beyond what the actual cost of a dog is ($700 -$1,050 per year); specifically, the amount of money you have to spend making dog-related repairs. This is made even worse because most homeowner-insurance plans don’t cover pet damage. So when that miniature poodle makes a puddle on your carpet, that’s coming out of your bank account.
Think the point is being overstated? According to Safeware, pet damage is the 2nd leading cause of furniture damage. Moreover, pet related damage to furniture frequently costs more to repair than the leading cause – product failure. All of this assumes your dog is a docile cuddle-monster rather than the Beast from Sandlot (to be fair though, Hercules wasn’t all that bad once the kids got to know him). If your dog is aggressive, you may need to spend even more money on homeowner’s insurance (while it is a conversation for another day, insurance companies mistakenly believe that the breed of the dog is the real determining factor of how aggressive an animal can be, and pit bulls get the brunt of it). The insurer may even require you to sign some kind of waiver for coverage of dog bites.
Finally, having pets can have a real impact on the resale value of your home in some circumstances (albeit indirectly). If you don’t shell out the cash to make all the necessary animal repairs before potential home buyers view your house, they may have a first impression that you don’t take care of your house (leading them to question virtually everything else, which naturally makes them unwilling to pay as much as they would have if everything looked well maintained). Specifically, smelly carpets, ripped furniture, and a hidden accident (it happens) could drop the value of your home by up to 5 figures. Moreover, the potential buyer will likely request another reduction to repair all the damage your furry friend has done.
The best thing you can do is address problems as they come up so you don’t need to make a large expenditure prior to selling your home when you are likely a bit tight on money anyways. To avoid some of the more major issues, you will want to get them plenty of exercise and toys to play with, dogs are less likely to chew up your new couch if there’s a delicious milk bone nearby, and they’re less likely to scratch up your floors running around if they’re pooped from an epic stroll through the park. This article is not to say that owning a dog (or cat) is a bad thing, you’ve seen our Instagram and are likely familiar with our Mascot Gibson the Frenchie. However, in order to avoid the negative impact of owning a dog, you need to be vigilant in addressing the source of the issue (typically lots of energy, not enough attention, and no toys).
At the Chernov Team we understand that knowledge is power, and knowledge of how to keep your best friend from also being your most expensive friend is powerful knowledge indeed. At the Chernov Team we know that whoever comes to the table most prepared leaves with the most, and the Chernov Team always leaves the table with the most.