3 Ways Water Damage Can Decrease Home Value

12/28/2021 (Permalink)

Contact the professionals at SERVPRO immediately after water damage strikes!

Water damage is the number one cause of home damages that affects many homeowners each year in Atlanta.

Water damage issues become more severe when a property owner decides to wait for restoration services. The more time you wait, the more damage that will occur to your home and possibly lower its value.

In the following blog post, we will discuss the three main problems that arise from water damage and how they can decrease the value of your property.

Does water damage decrease home value?

Yes, water damage can decrease the value of your home, but it will depend on the length of time it is allowed to accumulate and how much water damage is present. The longer a homeowner waits to deal with the water damage, the more damage will surface in their home.

How does water damage decrease home value?

When a property undergoes a water damage disaster, three things can cause a home to decrease in value:

1. Structural issues
2. Foundation damage
3. Mold damage

Structural issues

Structural issues are the most obvious value decrease after water damage. Clear indications of structural issues are when the floor is not level, the floors sink in, the walls are leaning in or out, or when doors and windows do not operate correctly. The right team of professionals can fix structural issues, but the cost to fix them rises when neglected for too long.

Foundation damage

Water damage can also affect your foundation if it is not addressed immediately. Foundation damage typically occurs in homes with basements that have water damage. Foundation damage can include cracks or holes in your foundation, leaning walls, and bulging floors.

Mold damage 

Amongst IICRC certified professionals, it is a known fact that mold will begin to grow after48 hours of water damage. Therefore, you will want to take care of water damage quickly before mold starts to grow throughout the home's structure. Mold damage can decrease the value of a home by more than 50% if left untreated.

How do you know if water damage has affected the property value?

The best way to determine how much damage has been done is to contact a professional home inspector. A professional inspector will be able to look at the structure and offer their insight on how much it would cost to fix any issues, if necessary.

Are you thinking about buying a water-damaged property?

Buying a property with water damage may sound appealing due to the lower cost, but think again. If you purchase a property with water damage, you will likely have to fix this damage at some point and repair any resulting structural, foundation, and mold issues.

Before you decide to buy a property with a history of water damage, you should contact a local home inspector to inspect for signs of structural damages. Once the inspection is complete, you will receive a report to understand the extent of the damages in your home.

Final thoughts

We hope you enjoyed learning about how water damage can decrease the value of your home. In short, remember to always handle water damage situations as quickly as possible to avoid more severe damage. 

Here at SERVPRO, we care for the property of our customers as if they are our own. With the help of the IICRC, our professionals have been trained to evaluate your property and let you know if there is any mold growth or other structural issues that may be present.

If you have any questions or need help, feel free to contact us at any time. The professionals at SERVPRO of North Fulton are available 24/7, 365 for emergency services.