I'm inheriting my parents' home, which has some issues. About 20 years ago, there was significant water damage after a heavy rain caused flooding inside the house, but my dad never got around to fixing it. We contacted insurance, but they didn't cover the costs. A handyman checked for leaks in the roof and found nothing. Currently, there's no visible mold, although the house is quite humid. I'm uncertain about how extensive repairs would be—do I need to replace the entire roof and walls? Is it smarter to handle repairs before selling or just list it as-is?
3 Answers
You won't get back the full cost of repairs, but making some updates can save you from losing out on $20-40k down the line. An inspector will definitely flag any issues, and you'd want to disclose the past leak. Without fixing it, you might end up selling to a flipper for less than you'd like.
Many people suggest that replacing the roof and maybe using a dehumidifier for a while could be a start. Taking down all the walls seems overkill if there's no visible mold. It might be smart to open up the worst area for inspection and see what’s really going on inside.
It's a tricky situation! As a buyer, I prefer to tackle repairs myself to ensure quality, but that means I'm expecting a price discount. I’d recommend getting a repair quote first; that way, you know the costs involved. Just keep in mind, many buyers want a move-in ready home and are willing to pay more for it.