Updated 8 months ago on . Most recent reply
When deciding to demolition a damaged home, is it better to keep the slab?
Hello,
One of my rentals was heavily damaged in a fire. It's a 1500-1600 sq ft home on maybe half an acre of land. Looks like the slab is in good shape. I am going to demolition the home rather than rebuild it because the costs is well above my insurance settlement. Question, is it better to keep the concrete slab and rough plumbing or demo that too? I plan to sell the land and which option would maximize my value?
Thanks
Alex
One of my rentals was heavily damaged in a fire. It's a 1500-1600 sq ft home on maybe half an acre of land. Looks like the slab is in good shape. I am going to demolition the home rather than rebuild it because the costs is well above my insurance settlement. Question, is it better to keep the concrete slab and rough plumbing or demo that too? I plan to sell the land and which option would maximize my value?
Thanks
Alex
Most Popular Reply
Why do anything? I assume you're going to sell it to a developer, so sell it as is and let them deal with it.
There may be a property tax benefit to leaving pieces. Where I'm at, if you leave a tiny piece of an existing wall and rebuild the remaining 99.99%, it's a remodel instead of a new build and the property taxes don't reset.