Consider Buying a Fire Damaged House as an Investment

Published on August 26th, 2022

Many a homebuyer's dream, is finding the perfect house at the perfect price. What could be better than finding a deal on a fixer-upper? Well, there are quite a few things that could be better, as fire-damaged houses tend to come with repair bills that can easily exceed the discounted price of the home.

So, before you buy that fixer-upper, be sure to do your research! In this blog post, we'll tell you what to look for when you're inspecting a fire-damaged home.

Is It A Fire Damage House?

Many things can damage a house and make it look like it was damaged by fire. For example, an electrical fire can cause the same burn marks as a house fire. A lightning strike or downed power line can also cause blackened walls and melted wiring, which may lead you to believe that the house was damaged by fire. It's important to research any damage before you start repairs.

Important Things To Consider If You're Buying A Home With Previous Fire Damage

Renovating a house after a fire can be a smart investment. By learning as much as possible about the fire, you can make an informed decision about whether to buy the property. How long ago did the fire occur? How much of the house was affected? Have there needed any repairs? All of these are important factors to consider.

A fire can be disastrous to your home, but it doesn't mean you can't still buy it or that you'll have to pay more to live there. Here are five things you should know if you're buying a home with a previous sustained fire-damaged house.

The good thing is you can feel good about yourself rebuilding a fire damaged property especially when the homeowners doesn't know how to ask for donations or hasn't received enough donations and wants to move on with their lives.

If your home experiences a fire, the intense heat can cause exterior brick walls and veneers. This damage can let moisture in and cause damage to wood framing, drywall, and insulation. Be sure to seal exterior wall cracks, replace damaged materials, and address mold growth.

Structural damage is a major issue that one should consider before investing in a home. If the load-bearing walls are weak, likely, the investment won't be worth it in the long run.

When a house catches fire, one of the things that often happens is that the basement takes on water. If your basement has damp walls, it can be a haven for mold after a fire. Be prepared to spend extra time renovating your home to dry it out, and make sure to hire a professional team to take care of the mold removal.

Smoke damage not only leaves behind an unpleasant smell and unsightly stains but also has health implications. 

Extreme heat can damage the soldering on copper plumbing pipes or melt PVC pipes during a home fire. It can lead to hidden problems like damp spots, stains, and mold on drywall. It's always a good idea to have your house checked by an experienced plumber. 

When a house catches on fire, the water used to put it out can warp door frames, window frames, floors, and trim. In most cases, warped wood needs to be removed and replaced.

Duct cleaning is an important part of keeping your home healthy and safe. Professional duct cleaning ensures that your entire house is healthy, not just the living spaces. Firefighters use water and chemicals to extinguish fires. If these compounds contaminate a home's ductwork, the indoor air quality inside becomes compromised. That's why it's important to have your air ducts cleaned by a professional. They'll make sure your home is healthy from top to bottom.

Home inspectors aren't responsible for testing for asbestos. However, if your house was built before 1980 and sustained fire damage, it's a good idea to have it checked for the material. Professionals must remove asbestos, so it's best to be safe and have it tested.

Any water damage caused by a fire can quickly become a breeding ground for mold. Toxic black mold loves moist, dark areas, so it can spread quickly and easily if left unchecked. For your safety, always leave mold testing and removal to certified professionals. 

Fire damage is a serious issue, and it's not something that it can easily handle with DIY techniques. Soot exposure can cause serious health problems, lingering smoke odor for a long time if left untreated, and smoke stains are difficult to remove. That's why it's important to seek the help of an experienced restoration contractor.



Upside To Buying a Fire Damaged House

If you're looking for a real estate bargain, consider buying a home that's been rebuilt after a fire. As long as the home is structurally sound and you trust the renovation service and inspector, you can save a lot of money. These homes are often undervalued so you can get a lot for your money.

Renovating a home yourself is often less expensive than hiring someone else to do it. You can also customize it to your liking, using paint, materials, and furniture of your choosing. However, remember that repairs have not been made on the home, so it is important to be cautious.

Here is a summary of the pros of the house with fire damage:

• Affordable price
• Higher return on investment (ROI)
• Renovate the house according to your choice

Downside To Buying a Fire Damaged House

Buyers should consider the pros and cons of every decision before making a choice when buying a house renovated after a fire. It is important to be aware of the negative aspects of a decision to make the best choice possible. 

When buying a new house, many things can go wrong. For one, you might not know what you're getting into—there are a lot of unknown variables. Also, many contractors are more trustworthy than others. Unfortunately, some contractors will take advantage of buyers by covering up damage with drywall and carpeting. So it's important to be careful and do your research.

When purchasing a home, it is always important to work with a professional home inspector, structural engineer, and electrician. This way, you will clearly understand what exactly you are getting into.

When touring a home, it's important to be aware of any potential problems. Besides doing a home inspection, it's important to watch out for potential problems. You can watch out for water damage, electrical issues, and other problems. By being vigilant, you can avoid costly repairs down the road.

There are pros and cons to purchasing a fire-damaged house. On the one hand, it may be a great deal because the damage has already been done, and you can get the house at a lower price. However, on the other hand, there may be more damage than meets the eye, which could mean more repairs and expenses down the road. It all depends on the extent of the fire damage and when it took place. 

Mortgage companies 99% of the time will not fund these types of properties.

The process of repairing and restoring a home after a fire has damaged it, even a small one, is a big job. Depending on the extent of the damage, the task may be very difficult and take a long time. 



Fire damage can be a very traumatic experience, so it is important to contact a professional fire damage recovery agency as soon as possible. These agencies are experienced, skilled, and licensed in emergency fire damage remediation. They will help you through this difficult time, and they will allow the store to run as efficiently as possible.

Every 86 second, a home fire occurs in the US. These fires lead to thousands of deaths and injuries annually, as well as billions of dollars in damage. This information comes from the National Fire Protection Association (NFPA). Home fires can cause a lot of damage, both to people and property damage. Fortunately, many of these fires are preventable. If you have a strong home fire safety plan in place, your family will be more likely to escape safely if there is a fire. And in some cases, you may even be able to avoid fire altogether.

In an emergency, reaction time is key. Beyond the equipment you need, everyone in your household should know what to do if a fire starts. Here are some tips to get you started:

• Fire safety is important in every home. To keep your family safe, create a fire safety plan that establishes at least two escape routes and a safe location away from the home where everyone can meet.
• When a fire breaks out, make sure you have a plan to stay in touch with each other. 
• Escape plans are important- make sure you practice them twice a year! 
• Children need to know how and when to call 9-1-1 in an emergency.

First, contact your insurance company to find out what isn't covered under your policy for repairing your fire-damaged home. Then, work with a qualified, licensed fire damage restoration company to assess the damage, fire cleanup the mess, and get your home back to its original state.

If you're looking for a great investment opportunity, buying a house with fire damage can be a wise decision. While repair costs can be high, you may be able to negotiate a lower purchase price for the property. And once the repairs are made, the value of the property is likely to increase.

Secondly, it depends on the extent of the fire damage. If a fire has significantly damaged the home, it may not be wise to buy it. However, if the fire damage is relatively minor, it may be worth fixing. You should consult with real estate investors to get their professional opinion.

The real money comes when you learn how to get top dollar for your fire-damaged house once it's been restored on the MLS.