What a disaster January 2011 brought to Brisbane residents. Not just then, but any of the lesser floods that followed. Especially devastated were those that owned homes in the flooded areas. As the unaffected members of Brisbane move on with they're lives, you are still trying to recover from the emotional and physical damage it has left in it's wake.
You are now faced with the devastating damage, and the question: Do I repair? Or do I tear down and build a new home? Turn it into an investment property? Or just sell up all together. Whatever conclusion you come to, there is some things you need to know.
For all of the following suggestions, you can definitely make use of a Brisbane FloodWise Property report. Go to FloodWise Property Reports put in your address, and get your report. This will show you your block's relationship to the flood levels and minimum habitable floor levels for new work.
Repair:
If things are not damaged as much as you thought and your home is able to be repaired, that is fantastic. Now is a great time to consider:
- Raising your house. If possible, raising your timber home on stumps will give you added peace of mind in preparation for the possibility of another inundation. It may not be the prettiest solution, but it may save you having to deal with the turmoil of what you have just gone through.
- Complete renovation. Many Brisbane flood victims have used the opportunity to look at it in a 'glass half full' way. Many consider it a 'fast-tracked, forced renovation.' Now is the time to consider fully renovating to give your home a new, fresh look. Even to build that deck you have wanted for so long.
New Home:
Some homes are so damaged that there is no going back, and demolition is the only solution. Other homes may be repairable, but the cost would be similar to building a new home on the block. Building a new home can be a very rewarding experience. You can design a home that can withstand future floods, and better yet, it's your own design.
Turn it into an investment property:
How can something bad, turn into something good? It may be that your block is particularly promising to return a bit of your cash outlay to you. How so? Well, if you're block is suited to it, why not build some units or apartments?
Most Brisbane blocks can fit 2 or more units on the one block. This is certainly something to consider if the property that got flooded was an investment property anyway.
Sell up?
In the end, if all options have been considered and it seems the only option is to sell to try and recoup some of your losses, then this may be your solution. We encourage you though, to consider making the most of what you have. Although it may be difficult, try not to be overwhelmed with the thought of renovating or building a new home. Although these are not the easiest solution, it may be much more rewarding than leaving your block, with your head hung low in flooded out defeat.
Whatever you decide to do, there is no right or wrong decision. You must decide what is best for your circumstances and which will offer the most returns for your money.
We can offer you assistance in the way of advice on council restrictions and requirements for building on flood-prone properties, and of course, all your design and drafting needs.
Sam,
QDH Director
RSS Feed