Hunting for a new house is difficult. Whether you want to live in the house yourself or flip it and sell it to someone new, there are a lot of factors to consider first. After all, buying any home is a big expense, especially if you have to fix it up after purchase. One of the most important factors to consider is water damage.
Even though water damage can be serious and sometimes dangerous, it does not mean that the house is out of the question. Instead, it means you must look at a couple of other factors before deciding whether the home is worth the purchase. Here’s what you need to know and do before purchasing a home with water damage.
Be On The Lookout For Water Damage in Your Richmond Home
Whenever you’re thinking of buying a new house, you need to check to see if it has water damage. Water damage is any property damage that has come about from a storm, flood, broken pipe, or another source of water.
Water damage can be a serious issue, especially if it has gone untreated for a long time. Knowing exactly what water damage looks like could help you make the right decision on your home. In most cases, water damage can be easy to spot, but it also can lurk behind walls, away from everyday eyes.
There are many types of water damage, but the most common include sewage cleanup, structural damage, broken pipes, mold, and mildew. If the water damage is new, it will likely be isolated to one area. In contrast, the water damage may have spread if it went unnoticed for a long time.
If you see any mold or mildew, that is a sign that there has been an issue in the past, and it may still be present. If it is a past issue, you still must address the mold and mildew since they can harm your health. Obviously, if the cause for the damage is still present, you will need to address that as well.
Get An Inspector
In order to know if a damaged house is worth the price, you need to know a variety of factors about the damage first. Hiring an inspector will allow you to answer crucial questions to make your decision.
For example, you need to know the source of the water damage and the extent of it. Some water sources and damage may be relatively cheap to fix, while others may force you to re-gut the entire house. If it looks like someone has already attempted to fix the problem, you also need to confirm that it has, in fact, been corrected.
In the case that someone fixed the problem, learn what steps were taken to fix it, who made the corrections, and who paid for the restoration. These sorts of questions will allow you to know what you are in for and if another insurance company will be willing to pitch in for the price.
You can ask the seller of the home and your real estate agent these questions, but those parties are obviously biased. Hiring an inspector ensures that you are getting the most correct, nonbiased information that you can before signing any papers.
Hire A Contractor For An Estimate
For many people, the deal-breaker is if the damage is too costly to repair. Hiring a contractor will help you get an estimate about how much the water restoration will cost. This is the only way to know if a water-damaged home is worth the investment.
For the best results, contact three different contractors and give them the home inspection report. This will give you a better idea of exactly how much the repairs will cost. Every contractor will evaluate the home and damage to come up with the estimate.
If you want to open any areas, such as a wall, for more intrusive tests, you will need to get a written statement from the current owners. Though these intrusive tests will be more work, they may be the only way to check for certain water damage problems.
Decision Time
You make your decision based on your desires and how much the repairs will cost. If they cost too much for your budget, you will likely want to look for another home. If it is your dream home and you can afford the repairs, then there is no reason not to buy this home. After all, water damage can be repaired with the right budget and expertise.
Restore The Water Damage
Say that you have decided the home is worth it and have already purchased it yourself. Now, you need to know how to restore the water damage. In some cases, the original homeowner’s insurance will be able to cover some of the damage. If not, you’re on your own.
For fixing water damage like flood damage Richmond, you will likely need to hire a restoration team to work alongside you. A water restoration team will ensure that the water is properly cleaned up and that your home is safe to live in.
Importantly, a restoration team will remove any mold or mildew. Though this may seem like a minor issue, both of these can cause serious health issues if you breathe them in for a long time. Not to mention, they are incredibly difficult to remove safely.
If the water damage is only minor, you can try your hand at fixing it yourself. You need to be incredibly cautious when doing this, however. You do not want to risk injuring yourself or damaging the property any further.
In Conclusion
If you find the perfect home, but it has a little bit of water damage, do not panic. Water damage can always be treated if you have the funds and the right team. By talking to an inspector and contractor, you can get a good idea about whether or not buying a home with water damage is worth it.
If you need help fixing up a home with water damage, call VRS today!
