Logically it makes the most sense for us to rehab the house, and then sell it. However, that is a cut and dry answer to a complicated question. What will happen to the housing market? Even if we update the house to look like something off of HGTV, will people have reservations about buying a house that was flooded? Will it be a landlord's market? Will I be completely broken hearted to let this house go?
I am not sure that we will know the answer to this question until the house is finished. My hope is that the market for selling will be very high or very low - essentially making the decision for us.
This week work on repairs will begin!!! What will that really look like? Well, it will definitely be a marathon and not a sprint (that may be my new favorite catch-phrase). First, prepping the house for repairs. The demo work that we did focused on opening up the walls and removing insulation for drying purposes. The prepping that will happen includes:
- creating clean drywall lines to make it easier to replace, patch, float, and tape
- removing the tile still on the floor so that we can install a consistent flooring throughout the house
- identifying the drywall and insulation that will be used
- replacing any plywood that may have been too saturated with water.
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