Real Estate Values after a Flood

Real Estate Values after a Flood

Author: Elizabeth
Date Created: Oct 8, 2008 - 7:12:58 AM

For those currently in the midst of dealing with water damage, it might not seem like time to worry about real estate values but the fact is…the decisions you make now regarding water damage repair and restoration can dramatically impact your future. Learn how to preserve the value of your home during this critical time period with these important considerations:

1.       Protect the value of your home! When faced with major water damage restoration it can be tempting to save money by doing some of the work yourself or trying to take a few short-cuts.   It could be one of the most costly mistakes you ever make. Remember, the largest single investment most people make is in their home. Cutting corners might save a little money today but could hurt the resale values of your home for years to come.

2.       Set the record straight. In the past, major work performed on a home was rarely reported but with modern technology, insurance companies, building departments and other agencies and institutions responsible for the safety and security of a home keep track of everything done to a home…or not done to a home. For example, the C.L.U.E Report stays with a house forever – so anyone selling a flood damaged home in the future will need to demonstrate that all work was performed to the highest standards. Working with a reputable water restoration company is also a good way to help keep insurance rates low after a major loss; insurance companies want to know the work was done right – without the risk of mold or mildew claims arising at a later date.

3.       Remember the write-offs. This is one tax deduction that most people never want to qualify for but keep track of receipts and water damage repair documentation just the same. It might help with annual taxes as well as keeping track of the cost basis for the property when it comes time to calculate Capital Gains taxes on the sale of the home in the future.

4.       Go with quality. Without a doubt, the most important decision you can make when it comes to Galveston water damage services is going with a company like Kiwi Services known for quality. Not only will it make submission (and payment) of insurance claims much easier but working with a vendor who is certified by the Institute of Inspection Cleaning and Restoration is vital to protecting the value of your real estate in the future.

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