Is your home at risk of hurricane damages?
From 2018 to 2020, there were fifty different climate disasters all producing over a billion dollars in losses each — it’s easier to get caught up in a hurricane than you might think.
The aftermath of a storm is never fun to deal with, but it can be trickier when you’re thinking of moving — whether as a response to the hurricane or because it’s something you’ve had planned for a while.
If you’re tired of searching “how to sell my hurricane-damaged home”, you’re in the right place! Just keep reading on to find out what to do.
Deal with Hurricane Damages
If your home has been damaged, it can be a good idea to consider making repairs. However, it might not be worth fixing every little issue.
If you’re dealing with severe damage, you may want to focus on certain important areas. For example, you could fix the roof, exterior, and any other major issues first.
When selling a property, first impressions and curb appeal are vital in getting the deal done at a price you’re happy with — it’s sensible to make everything look good.
Know Your Local Market
Whether you’ve been living in the area for years or not, search online to see what other properties are going for.
Chances are, yours won’t be the only hurricane-damaged home in the area — look at similar properties in the local area and in other places affected by storms to boost your chances of making a sale.
You don’t want to set a price that’s too high, but at the same time, there’s no point in selling your house for less than your neighbors.
What Happens to House Prices?
If you live in an area that’s known to be high-risk for hurricanes and other climate disasters, the value of properties around is likely to decrease in the short-term but get back to where they were before too long.
That said, studies have shown that in the aftermath of a hurricane, house prices can actually increase.
On average, three years after a hurricane, the value of properties was shown to have risen by 3% to 4% on average. However, the same study agreed that house prices will drop in the short-term, which isn’t ideal if you’re looking to get out as soon as possible.
Sell Your House Fast
Do people buy damaged homes? The short answer is yes, but if you’re after a quick and simple sale or aren’t able to make numerous repairs, cash house buyers could be a better fit.
They take homes in any condition, and often with no fees or commissions, so they present a welcome alternative to long, drawn-out sales with other buyers.
What Should I Do?
When it comes to selling hurricane-damaged homes, it’s up to you.
You may decide that it’s worth making repairs to address the hurricane damages and putting your home on the market, or you might simply sell it to a cash buyer to make your life a little easier — what will you decide?
If you’re after more property tips, be sure to check out the rest of our posts.