Damage that occurs from a flood is expensive to repair. In many instances, insurance companies deny claims because the home is considered unsalvageable. This leave you, the homeowner, with the major decision of whether or not to try fixing a flooded property yourself.
It’s just water right?
Yes, but it’s not that simple. While water will eventually evaporate, what is actually left behind is the real problem.
Rain water and salt water affect a structure differently. The amount of mud and storm debris that can enter inside of your house adds to the list of issues.
When it Makes Sense to Repair Your Flooded Home
It may be possible that you have just a little damage inside of your house. Not every flood rises above the basement or subfloor level.
Your mortgage type almost always dictates whether or not you have insurance coverage. If your current policy will pay for 80% or more of all costs incurred, it might make sense to pay the deductible.
Dampness, when measured, that does not reach 6 inches or more inside of a room can usually be fixed. A licensed general contractor may be able to remove portions of lower walls or replace sections of a waterlogged floor.
The extraction of soil, carpeting and furniture will allow you to survey the actual damages. This step will be required before any reconstruction work takes place.
A soggy basement can sometimes be pumped out. Depending on the height of the water line, the foundation might remain intact with no holes, cracks or breakthroughs visible.
When It’s Time to Consider Selling Your Property
No repair estimate for a residence can be calculated until the flood remnants are removed. This takes time and money. It is not cheap to hire flood waste removal companies, and the extent of damage might not be covered by every insurer.
In a lot of instances, more problems are uncovered as the stagnant water is pumped out. Electrical panels, sockets and wiring are almost always going to need replaced. To do this, a qualified, licensed electrician needs be hired.
Expect to pay upwards of $5,000 (based on national averages) to replace an electric panel and some receptacles. Re-wiring each room is an additional cost as well as replacing an HVAC system that is not under a warranty plan.
The floor joist provides support to subfloors throughout your house. When these become weakened by flood water, replacement is essential. Your house might have to be jacked up and supported to complete the job. This requires an extra crew of workers not to mention the labor and materials costs to replace household flooring.
Water almost always cracks foundations. The pressure that pushes against the house from the outside and inside at the same time is what causes such issues. Splitting and crumbling of exterior or interior foundations requires major renovations. Many homeowners that get an estimate for basement or foundation work find that it costs substantially more than any other type of remodeling.
If the single-story or two-story home has drywall inside, usually a tear-out will be needed. When moisture seeps into the gypsum boards, the walls are no longer structurally sound. The price of going from room-to-room replacing wet drywall boards can exceed most people’s repair budgets.
It might also be necessary to replace wall studs that are now rotten and molding at the bottom half. Depending on building codes, re-studded walls take a lot of time to plan and finish.
Making Water Damaged Property Decisions
The overall expense, without getting financial assistance, does make it less attractive to fix up a homestead yourself. It is legal, in every state, and easier than you think to find a buyer pretty quickly if you are unable to come up with the funds needed to complete the remodeling work yourself.
The fix it versus sell it debate should never be hard to conclude for savvy property owners.
You can sell your flooded home, and get a fair cash offer.