What to Consider Before Buying a Water Damaged Home

What to Consider Before Buying a Water Damaged Home

Have you thought about purchasing a new home, but have worries that the home may have been previously water damaged? You’re not alone. If you live in a region that is prone to flooding, storms, or severe winters, it is likely that homes in your area have experienced water damage of some sort. This can make buying a home tricky because you don’t want to be caught buying a water-damaged home without doing your due diligence. Here are the top things that you need to consider before buying a water-damaged home from the weather damage experts at Florida Dry.

Schedule a Home Inspection

Before you even think about making an offer on the home, you want to be sure that you schedule a home inspection to thoroughly inspect every inch of the water-damaged home. The purpose of this inspection is to find out what was water damaged if there was secondary damage from the excessive moisture in the home if there is mold, and whether or not the issues were taken care of.

You want to be sure that you have an answer and an understanding of the following questions:

• What caused the water damage? Was it the fault of a storm? Flooding from a nearby body of water? A pipe burst? A leaky roof?
• What was the extent of the damage? How long was the damage present before it was repaired?
• Was the source of the water damage fixed?
• Were repairs made by a certified restoration company or were the repairs DIY?
• Were the repairs covered by insurance?
Understanding these questions will help you have a more complete understanding of what potential repairs you will need to make in the future or if all of the issues were handled. This will also give you more bargaining power when it comes time to make a bid on the property.

Consult With a Contractor and Get an Estimate

We always recommend speaking with a contractor who deals with storm damage and water damage before you buying a water damaged home. Talking to a professional who understands the process of repairing a home after water damage will provide you with much-needed information about how likely it is that you will need to make repairs in the future. They can also give you information about what it would cost to make all of the necessary repairs. You can then use this information to make a sound decision on what you should pay for the property, how much you’ll spend in renovations, and ultimately what the property will be worth after the repairs.

Search for Homeowners Insurance Quotes

The final thing that you need to consider before buying a water-damaged home is how much it will cost to have your home insured! Insurance rates can increase if a property has already experienced damage because there is a higher risk that there may be damage that went unnoticed. Shop around for homeowners insurance quotes so that you know what your potential rates may look like.

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