House with flooding problem due to hurricane a smart move or one to avoid?

[Connor B.]

Hey everyone whats going on? Recently my cousin came across a house that we are looking to invest in.  The house is a short sale and has been abandoned for about 3 years now after hurricane sandy.  The exterior of the house needs some work but its in decent shape.  The problem is the inside of the house is a disaster. Most likely because of flooding.  We want to invest in the property but would like to hear some feedback from anyone whose rehabbed a house that had a flooding problem or anything similar.  Thanks!

[Ashley Lesieur]

Hi Connor,

As a real estate agent in Hudson County, NJ, I've seen many homes damaged by Sandy.  The home you are looking at will most likely need to be gutted, especially anywhere the water touched.  Some things to consider in addition to the renovation:

Where is it located on the flood map? Is it likely to flood again?  This may help you decide how to finish the lower level.  In downtown Jersey City, homes that were flooded by Sandy have put in new draining systems and renovated with tile in the lower level instead of carpet or wood, and raised their utilities up off the floor so a couple inches of water won't reach them.

It may be more difficult to get insurance and you may be required to get flood insurance so there may be some extra expenses there.  

Just a couple things I see daily where I'm at.  Hope that helps you with your decision!