What To Do When Buying a Home with Water Damage
When it comes time to buy a home, there’s many factors you need to consider. Some of these are personal factors, but some are things that you should be asking your real estate agent or seller about perspective homes. How much can you put down for a down payment? What are the schools like in the area? Has the house suffered any water damage? Here’s what you need to know when buying a home with water damage.
Although asking if the house has suffered any water damage is a great first question, it’s just one of many you should be asking. Other questions you should ask include but aren’t limited to:
- When did the water damage occur?
- What caused it? Burst pipe? Flooding? Leaky roof?
- Has the cause been fixed, or steps taken to prevent further flooding?
- How long was the water sitting in the home and how much damage did it do?
- Was the home stripped down or were only the walls washed or bleached?
- Was mold allowed to grow?
- Has wiring in the walls been checked?
Get the Home Inspected
If the sellers or real estate agents are unsure the extent of the damage caused by water damage, get the home inspected. This is an important step of buying any home, but especially important when buying one with water damage. Not only could there be damage from water, but there could be underlying damages from any repairs that were attempted. Make sure to higher a reputable home inspector and have them carefully check the home for any existing damage- water or otherwise. Water damaged homes can have a lot of issues. Because of this, it may be a good idea to get a second home inspection. This way, you can make sure nothing was missed.
Determine the Cost of the Home
Because it may cost you to fix any water damage once you’ve bought the home, you can include this in your offer. You should find a contractor that will help you estimate the cost of repairs. Depending on the extent of the damage, this could be thousands of dollars. Once you have an estimate, you can make an offer on the home that accounts for these costs.
If You Buy the Home
If you buy the home and invest in its repairs, make sure you also invest in flood insurance. It is likely that if the home flooded once before, it will flood again. Certain areas are more prone to flooding than others, and sometimes it cannot be stopped. It is important to have flood insurance if this is the case in the area where you plan to buy a home. Make sure to check with your insurance company about coverage for ground water. Most floods from outside your home are not covered without special flood insurance!
Water Damage and Mold
If the home you plan to buy- or even the home you live in now- has suffered from water damage or even mold, it’s time to call in the professionals. Water damage restoration and mold removal are just two of the many services offered by Thomas’ Carpet Cleaning and Restoration Services. You can even submit a service request today!