How Water Damage Impacts Property Value
How Water Damage Impacts Property Value
August 29,2023

How Water Damage Impacts Property Value

Water damage is an ever-lurking threat for houses and homeowners. Severe floods, roof leaks, and burst pipes are just a few of the risks, and the consequences of water damage can be significant. An overarching result is a hit to the resale value of your home, particularly if you do not arrange timely water damage cleanup and water damage restoration. In this brief article brought to you by Tidal Wave Restoration, we look at some ways in which water damage can ravage your home's market value.

How Water Damage Impacts Property Value

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If your home has just experienced water damage, then get started on water damage removal as soon as possible. Call Tidal Wave Restoration to speak with a live representative and request urgent water damage cleanup today.

Water Damage Can Cause Structural Deterioration

Many people forget the power of water. The gradual erosion caused by persistent leaks and unchecked moisture can silently tear at the foundation, walls, and ceilings of your property.

According to the Federal Emergency Management Agency (FEMA), nearly 20% of flood-related structural damage is severe enough to lead to major repairs or even condemnation of the affected buildings. This ominous wear and tear leaves potential homebuyers wary of investing in a structurally compromised property.

Unexpected Guests: Mold Infestations

Water is a source of life, and you can expect water damage to turn into a party. One of the most insidious outcomes of water damage is the rapid growth of mold. The mere presence of mold is a red flag for potential buyers, casting a shadow on the perceived safety and habitability of the property.

Water Damage Looks Ugly

Water damage leaves an indelible mark on a home's aesthetics. Stains, warping, and discoloration on walls, ceilings, and floors are unsightly reminders of past water incidents. First impressions matter, and a visually compromised interior can cause potential buyers to question the overall upkeep and quality of the property.

Compromised Electrical and HVAC Systems

Though each is a separate system, the electrical, HVAC, and plumbing systems work in close proximity of one another. Water intrusion has the potential to wreak havoc on electrical wiring and heating, ventilation, and air conditioning (HVAC) systems.

In fact, the Electrical Safety Foundation International (ESFI) highlights that water-related electrical incidents account for a substantial number of home fires. Prospective homebuyers are reluctant to invest in a property plagued by hidden dangers.

Bottom Line: Negative Appraisals

Professional appraisers take water damage into account when determining a property's value. If evidence of water damage is discovered during an appraisal, the appraiser is REQUIRED to consider the impact on the home's worth. This, in turn, restricts the selling price and leaves homeowners grappling with an undervalued property.

Handle Water Damage Cleanup ASAP

Water is a quick element, and it has a unique ability to seep through a wide range of materials. Don’t wait until water damage reaches the foundation of your building. Call a water damage restoration company like Tidal Wave Restoration to get started on a thorough water damage cleanup as soon as possible! Tidal Wave Restoration even assists in filing insurance claims so that you can get your fair share from your home insurance policy.