A house fire is a homeowner’s nightmare that most people don’t even want to think about. If you’ve endured one, you know it’s one of the worst things that can happen. Even if you and your family made it out safely, you might still suffer significant losses because of the blaze. Insurance may cover the losses financially and give the option to rebuild. Or, you may want to start anew.
To start anew, you’ll have to sell a fire-damaged house, which presents its own challenges. If you’re wondering how to sell a fire-damaged house in Florida, keep reading!
Assess the Damage
Fire damage can come in different forms and severity. Once you determine how much damage your house sustained, you will know if the home can be repaired or if it needs to be demolished. A general rule is if the entire house was touched by flames, then the chances of saving it are slim to none.
However, this may not be the case with your house. For example, if the fire was extinguished before the flames reached the entire roof and every wall, the home can probably be renovated to “new” again.
Your homeowner insurance company will likely conduct an inspection within a week of the fire. The agent will use the initial assessment to estimate the damage and outline your options.
What’s the Estimated Cost of Repairs?
Repairing fire damage can be one of the most costly home repairs there is. The average range to repair fire damage is $3,000-$40,000. Fires can cause damage to the exterior and interior of properties. And fire isn’t the only culprit. Smoke and water damage is usually just as bad as the fire itself. So, do yourself a favor and obtain price quotes from multiple contractors.
You’ll find that every contractor who works with fire damage views this type of damage differently. The good news is that if you have homeowner’s insurance, they should cover the cost of repairs. However, keep in mind that they may not pay out as much as you’d think. Or, similar to a car being totaled, they may suggest paying for a new house instead of trying to repair one that’s too damaged.
Repair or Sell Fire-Damaged House?
Ultimately, the decision to sell or repair the home is up to the owner. Some find that their house has sentimental value, and they can’t part with it, while others just want a fresh start. Rehabbing a fire damaged house comes with many costs, challenges, and risks. So, listen to your emotions, but also consider the financial implications that come with keeping the home.
Before making a final decision, just remember that the home will take time to fix, so you’ll need to factor in the cost of living elsewhere in the meantime. Also, the value of the home after all renovations are completed can be used to tell you if it’s profitable or not to do the repairs.
Sell Fire-Damaged House to Us
If you own a fire-damaged house in Southwest Florida and want to sell, contact us! We’ll do a complete assessment of the house and give you a cash offer. That’s right! We’ll buy your fire-damaged house in cash, and you can walk away worry-free!