3 Myths About Diminished Property Value After Suffering Damage

Will fire or smoke damage affect property value? It's a common question many homeowners face following a fire and there are many myths regarding this. Fortunately, the reality is that many of these myths simply aren't true.

Myth #1: The Home is Worth Less

Reality: Not true. With proper repairs and thorough cleaning, it's quite possible to restore the full value of the property to its pre-fire status. This requires hiring contractors and construction firms that have experience remediating fire damaged properties. They know what to do and how to repair the damage so that it is quite literally as if it never happened.

Myth #2: Smoke Damage Cannot be Eliminated

Again, when you hire a professional cleaning team, they will do a thorough inspection to determine all of the carpet, woodwork, drywall, etc. that has been impacted by the fire. Once this assessment is complete they will recommend the proper course of action. This will often include total replacement of damaged housing fixtures. This is a better solution than cleaning as it totally removes the materials in question from the property. Doing so eliminates any potential for residual smoke to remain within the home.

Myth #3: People Don't Buy Fire Damaged Homes

Not true by a long-shot. Yes, potential buyers will have many questions, however, if you can show proof of full remediation and the steps that were taken, most concerns will be eliminated. In fact, by showing all the repairs and replacements, you're effectively showing buyers that they're buying a remodeled house that is contains new components that are younger than the house itself.

 So, how do you make sure that your home isn't worth less following a fire? The first step is to hire a public adjuster. A public adjuster will give your property a more thorough evaluation, plus a more detailed valuation of the damage than your insurance company. The result is that you can fully mitigate and repair any damage that has occurred. At Miller Public Adjusters, we work with our clients to ensure their property regains its full value by the time the final nail, the final swatch of carpet, and the final board are in place.

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