The causes of water damage vary and can be due to leaks and burst pipes, extreme weather conditions such as strong winds driving water into homes, or flooding caused by rising water levels. But, whatever the cause of the water damage, there is no doubt that it can be disastrous for a property.
Water damage is an issue that affects many homes, causing extensive damage to the property and significant disruption for homeowners. According to insurance company Zurich, in terms of frequency, 57% of real estate claims to Zurich North America are related to water damage. In terms of severity, 71% of Zurich’s real estate claims are for water damage; this makes water damage a leading cause of insurance claims and also one of the most costly.
Selling a House After Water Damage
One of the main issues with water damage is that it cannot always be detected right away. This TikTok video from J2 Consultants shows the shocking impact that water damage can have on a home and how easily this can be hidden from anyone unaware of the signs to look out for.
No one wants to purchase a new house only to discover it has suffered extensive water damage and has major issues that need to be repaired. But unfortunately, this does happen, and it can create a lot of upset and become expensive to fix. The reason water damage can be so problematic is that long after the surface water has been mopped up, long-term issues can still remain. If left unchecked, these issues can have a significant impact on the value of the property and negatively affect its resale price. But, a study led by Stanford University suggests many homebuyers are unaware when it comes to buying a property that is on a flood plain and may purchase an overvalued property as a result. As disclosure rules vary across the country, home buyers may be unaware if a vendor has previously claimed for water damage at the property, so the long-term effect of water damage could impact the property and its potential resale value without the buyer’s knowledge.
Water Damage Repair
The best way to quickly check a home for water damage is to call a water damage repair expert, such as Zona Restoration, to perform a detailed inspection of the property. The technicians will get to work identifying the source of any possible water leaks and then starting the water mitigation process to remove the water and start drying out your home. Having professionals take care of this process on your behalf is vital to ensure that the source of the leak is identified quickly to allow the water extraction and drying out process to begin before any remedial work is carried out.
The faster you call in the water damage experts, the less likely your home will suffer extensive damage that could impact its resale value. So the key to checking for water damage and minimizing its financial impact is to act fast.