Could owning a pet potentially lower the value of your home?

If you planned your pet expenses carefully, you likely budgeted the yearly costs. But did you factor in potential repair bills or a decrease in your home's value? It's something to consider, as certain pets can inflict significant damage. It's not just dogs and cats; even small creatures like ferrets or a leaking fish tank can cause stains and lingering odors that are tough to eliminate.

A 2011 British survey revealed that, on average, pets cause about $1,120 in household damage each year [source: McIver]. Unfortunately, homeowners insurance typically doesn't cover this damage. One real estate agent also estimated that a property's value can drop by $30,000 when it's revealed that pets have lived in the home [source: Tuttle]. The agent added that even the faintest evidence of pet ownership can discourage potential buyers, reducing the pool of interested buyers and, in turn, the final sale price.

Thankfully, there are steps you can take to fix these pet-related issues. If you're working with a real estate agent, they'll likely help you stage your home and remove any visible signs of your pets. Even with your best efforts to keep your home neat, pets will inevitably leave their traces. Over time, you may become so accustomed to your pets and the damage they cause that you don't even notice it anymore. Let's explore the various types of damage pets cause and what home buyers are on the lookout for.

Damage Buyers Look For

Pet owners often consider their pets as family members, making it easy to overlook the harm they're doing to the home. However, when it's time to sell, it's essential to tackle these pet problems head-on. Let's begin by addressing the exterior of the home, as that's the first thing a home buyer will notice.

Pets can cause significant damage to the outside of your home, such as chewing on front steps, scratching the porch walls, or marking the corners of your house and deck. They can also wreak havoc on your landscaping by digging holes, tearing up grass, and munching on plants, leaving a once-beautiful yard looking neglected. Curb appeal is crucial, and if buyers spot substantial damage caused by pets outdoors, they may not even make it inside.

Inside your home, the damage continues. Even the most well-behaved pets may chew on doors and window sills, and cats often scratch window screens while you're away. Don't forget to check cabinet doors, non-carpeted floors, thresholds, walls, and trim. Much of this damage stems from boredom, so it's important to provide pets with daily exercise and enough toys to keep them busy. Of course, some problems can't be avoided, like accidents from puppies and kittens. These leave stains and odors that are tough to remove. Just covering them up won't work, as savvy buyers will quickly see through the disguise. But if you take the right steps, there's no need to worry. We'll cover how to handle this next.

How to Achieve a Pet-Free Price

Most homeowners would rather tackle the damage their pets have caused than part with their beloved animals. However, when it comes time to sell their homes, they may think twice. Scratches, chewing marks, stains, and odors are all clear signs of pet ownership. Before staging your home for potential buyers, any pet-related damage needs to be addressed if you want to sell your property at its original value.

Odors are the most troublesome issue: As anyone who smokes can tell you, persistent smells often require extensive cleaning to be completely removed. If potential buyers are greeted by the strong scent of pets, they might hesitate to make an offer. If they do, their offer may include the costs for repairs and cleaning necessary to make the home livable — and breathable — again. Pet odors in carpets are particularly challenging, as spot cleaning doesn’t reach the carpet pad or subfloor, where urine can often seep. You may need to replace both the carpet and pad, and possibly repair or seal the subfloor as well.

Pet odors can also result from set-in stains on your walls, trim, and furniture. If you’re not ready to replace a piece of furniture or rug, make sure to remove them during the staging process. While scratches and chewing damage are simpler to repair, they should not be ignored. These are clear indications that you have a pet, and this alone could turn off some buyers, potentially affecting the final sale price of your home.

After completing the necessary repairs, stage your home properly to ensure there are no signs of pets: Remove feeding bowls, food, treats, dog beds, cat trees, leashes, and yard toys, storing them out of sight of potential buyers. Ideally, arrange for a friend or family member to care for your pets while the house is on the market, making it easier to show. If that's not possible, you'll need to take your pets with you during showings.

All this effort and expense may seem daunting when you're trying to sell your home, but in the long run, it should lead to a sale price that meets — or even exceeds — the value of your home before owning pets.