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Sell vs. Renovate a Fire Damaged House?

Sell vs. Renovate a Fire Damaged House?

Reasons You May Want to Sell Over Renovate

When it comes to deciding between renovating or selling a fire-damaged house, there are many things that need to be considered.

Here are a few things you should keep in mind to ensure you don’t end up regretting a decision to renovate your fire-damaged house.

1) Make sure your emotions don’t get in the way!

Often with a fire-damaged house, the owners immediately make the decision to repair the house. They do this because of the memories they have built up while living there. However, you should be careful to not let feelings get in the way.  There are other factors to consider.

For example, selling your fire-damaged house to a company like We Buy Fire Damaged Houses could allow you to take the cash from the sale in addition to your insurance settlement and buy an even nicer house in a nicer area.

That’s why, if you are the owner of a fire-damaged house, you shouldn’t just focus on repairing the house and getting things “back to normal” as fast as possible. You could also look at this as an opportunity – an opportunity that could allow you to come out even better than you were before the unfortunate incident took place.

2) Remember, home renovation projects can be stressful

Honestly, there is a lot that goes into repairing a fire damaged house. First, you have to find a good contractor, which can be difficult in and of itself. You’ll need to interview several candidates and find someone that is both qualified and that you can get along with.

After you find a contractor, you’ll have to go through the repair process – which can be frustrating. Be prepared to have strangers in your house and to have loud noises both early in the morning and in the evening when you may be trying to relax.

One more thing to keep in mind, repair projects often take longer than estimated. That means you should be prepared for the project to extend past the estimated date of completion, which can mean more noise and more interruptions for a longer period of time.

3) Fire damage repairs are notoriously difficult

Right off the bat you are going to need to find a contractor that specializes in fire damage repairs. Depending on where you live this may be difficult to do. However, going with someone who is not experienced, while it may cost less to begin with, can quickly lead to a whole host of issues later on that destroy your budget.

You need a contractor who can spot the damage, even damage that is structural in nature or behind walls or in the air ducts, so that everything is repaired properly. Failure to make the proper repairs can put your and your family’s health at stake.

One of the most difficult types of fire damage to locate and fix is smoke damage. Unfortunately, if all smoke damage is not taken care of it can lead to your family breathing in harmful chemicals that cause breathing problems, skin rashes and even negatively impact long-term health.

What to Know About Selling a Fire Damaged House

Unfortunately, selling a fire-damaged house is not without its issues as well. One of the biggest is the fact that it can be very difficult to sell a house that has been damaged in a fire. Most prospective home buyers simply don’t want to purchase a fire-damaged house. They worry that the damage hasn’t been properly repaired and thus their family’s health could be at risk. They also worry that another fire could occur on the property and put their family’s lives in danger.

To compensate for these concerns, owners of fire-damaged houses typically have to accept offers that are much less than what a similar house that has not been damaged by fire sells for. Because of the lower selling prices they receive, owners of fire-damaged houses have to be careful of the repairs they make. You don’t want to make costly renovations to increase the sales value of the home when those renovations will be cancelled out by the house’s history.

Luckily, We Buy Fire Damaged Houses has solved both of these issues for owners of fire-damaged houses. First, We Buy Fire Damaged Houses buys houses quickly and pays in all cash. This allows homeowners to sell their houses fast, get their money fast and get on with their lives. The owners don’t have to worry about their house sitting on the market for a long time, which can be highly stressful and frustrating. In addition, We Buy Fire Damaged Houses buys burned homes “as is.” This means that owners don’t have to go through a stressful repair process. They can sell the house immediately without having to do any work on it.

Benefits of Selling to We Buy Fire Damaged Houses

We Buy Fire Damaged Houses specializes in buying houses damaged by fire. Homeowners who sell to the company typically receive a number of benefits, such as:

Health Benefits

A fire damaged home often has toxic materials in it that can cause sickness.

Time Benefits

Restoring a house is time-consuming and can take many months. Selling a fire damaged house can be easier than living in a construction zone or being displaced for a long period of time. Plus remember, we are often able to close within seven days!

Financial Benefits

Selling your house after a fire is typically much cheaper than the expensive repairs and cleaning costs associated with home restoration. Hiring a general contractor is costly and comes with mandatory inspections and construction permits, not to mention possible fines and delays.

Location Benefits 

Holding onto a fire damaged property and paying property taxes is not a good plan if the lot is not expected to increase in value. Selling your home after a fire also means you don’t need liability insurance in case someone hurts themselves on your vacant lot.

Emotional Benefits

It’s not uncommon for individuals to feel uncomfortable returning to a fire damaged home even after a full restoration. We have even heard of people still smelling smoke and fire after returning to their restored home, though whether this is psychosomatic or a heightened sense of smell remains unclear.

Stress Benefits

Some people simply want to avoid dealing with city inspectors, contractors, insurance claim adjustors, real estate agents and other parties who may not have their best interest in mind when restoring their fire damaged property. They would rather get the cash for their burned down house for sale quickly and move on.

To see if your fire-damaged house qualifies for a free, no-obligation quote, fill out the short form below.