Determining if You Should Sell Your Flooded Home
If your home flooded in a recent hurricane, you know how traumatic the experience can be.
In the Houston Texas area, hurricane Harvey left a wake of damage that could cost up to $180 billion to repair. Hurricane Irma in Florida was no better. Damage estimates in the sunshine state are between $150 to $200 billion.
Sadly, homeowners will bear much of the financial burden left by these storms.
If you experienced a flooded home recently and want to sell, keep reading to determine if you should sell and for some steps you can take to prepare your home for potential buyers.
After The Flood–Time is Not On Your Side
Before the floodwaters recede, there’s not a whole lot you can do. But when the water does go down, it’s time to act.
Thankfully, most homes that flood do not need to be torn down. But they do need to be cleaned and the damaged elements will need to be replaced.
If you live in an area prone to hurricanes, you’re no stranger to humidity. Besides the discomfort humidity tends to supply, humid climates also tend to present another problem in homes: mold.
When a home is wet after a flood or hurricane, mold can spread very quickly. The longer you let your home remain wet, the longer mold has to grow and spread–creating real, long-term damage to your home. So it’s better determining if you should sell your Houston flooded home early on.
Minimize the Damage–Before It Spreads
If your home flooded, the first thing you need to do is document the damage and get in touch with your insurance company. Make sure you’re very thorough–take lots of pictures–and timely with this. If you wait too long, you could have problems getting your insurance agent to cover everything.
Once you’ve contacted your insurance agent, you need to dry your home out as quickly as possible. Like we saw above, mold grows quickly. The longer your home stays wet, the more likely your home will be damaged by mold.
The best way to get get the water out quick is to hire a cleaning company that can bring in big industrial vacuums and fans to dry your home out quick. This is definitely one thing you won’t be able to do on your own.
Once it’s safe to return to your home, it’s important to start cleaning up and drying out the home within 48 hours.
Repair What You Can
While much of your home can be salvaged, there are many parts of it that will need to be replaced after a flood.
Here’s a few parts of your house that may need to be replaced:
- Carpet. It’s pretty tough to salvage this stuff after it has been soaked by floodwaters. Mold really thrives in wet carpet and the padding beneath it, even if you dry it out quickly.
- Drywall. Drywall doesn’t do too well when wet. Most drywall will need to be replaced if it got wet. You’ll want to cut it out and replace wet drywall immediately.
Wood floors can survive a flood if dried out quickly but may still require refinishing to get them back in good condition. Other hard surface floors, like tile, may not need to be replaced either.
Once you’ve replaced flooring and drywall, it’s probably a good idea to repaint the interior of your home. Even if the area was not damaged by the flood, giving your home a refresh will help reassure buyers who maybe be nervous about a home in an area that’s flooded before.
Get Your Flooded Home Inspected
If you want to give yourself and potential buyers a little more piece of mind, consider having your home inspected by a professional before proceeding with repairs.
If you’re doing some of the repairs yourself or trying to manage several contractors, it may be difficult to ensure everything gets done properly.
Having one pro look the home over and give you an assessment of the damage will help you assess the damage and make sure everything gets done.
Getting a second opinion on any repairs that need to be made never hurt either. One contractor may notice something that another missed. And you might save a few bucks with a second opinion too.
Sell The Home As-Is
If you don’t have insurance–or it’s just plain inadequate–making repairs after a flood can be tough.
Sometimes you just don’t have any option but to sell. Repairs are costly and need to be done right to make it worth your while.
If you find yourself unable to repair your flooded home and want to sell, you’ll need to sell the home as-is.
This isn’t always an easy prospect. If you choose to sell a flooded home, you’ll need to advertise it as-is and be upfront with potential buyers about the condition of the home.
Most realtors don’t exactly jump at the chance to sell an as-is home either. If you go this route, just know that you may end up doing a lot of the leg work yourself.
Your best option when trying to sell a home as-is will likely be a home buying expert. A company like Fast Cash Offers can help you sell an as-is property quickly.
Putting It All Together–Should You Sell Your Flooded Home?
Making the decision to sell your home is never easy, even if it has been damaged by flooding. It’s your home after all.
If you decide to repair the home an stay, be sure to get it done right.
But if you do decide to sell, make sure you understand all your options and make the right call if you decide to sell as-is.
Have a flooded home you’d like to sell?
We can help. Get in touch with us today for a closer look at your options.