Does Water Damage Decrease Home Value? An Expert's Perspective

In short, water damage decreases the value of your home. The amount by which it reduces the value can be limited by identifying water damage, contacting a water restoration company, and repairing it thoroughly and quickly. Yes, water damage reduces the value of your home, but restoring it can minimize property damage. The extent to which water damage reduces the value of a property may vary, but it is important to detect it quickly and contact a water restoration professional.

Delaying this process can lead to further damage and a greater reduction in value. If there has been any type of water-related damage in or around your home, it is critical that the right service personnel address the issue before it worsens. If a home has a latent history of constant water damage, that could cause a property to face its greatest reduction in value, approximately 7.3 percent of its total value. Buyers are likely to proceed with extreme caution once they know that water damage is an issue.

However, there are buyers who will consider a home with water damage; as long as the damage is fixed and the repairs are complete. For homeowners who are considering selling their home, it's best to have a home inspector visit the property to assess any water damage that needs to be repaired before selling it. Restoration Master Finder advises buyers to subtract the cost of water damage and repair from purchase offers. Buyers know that it can take some money to restore a property with water damage and are likely to remove that amount from the supply. Then there are the very serious problems of water damage that can destroy the value and cost a small fortune to repair them.

Checking the foundation of your home should also be a top priority after an event that causes water damage. This is especially important if you have bad musty odors or if you see evidence of mold growth on ceilings, walls, around baseboards, or if you know there is a water damage problem or that it has been recently repaired. In conclusion, water damage does decrease the value of your home. However, by identifying and addressing any issues quickly and thoroughly, you can minimize the amount by which it reduces your home's value. It is important to have a professional inspect your home for any potential issues before selling it.