With widespread flooding in QLD, just think once a house is flooded, how do you repair the damage. Even if you can just paint over, the damages/flood marks are still very visible. So do you have to bulldoze the house and build again ?
How to repair flood damage on a property ?
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Around 18 months ago I did an insurance job on a large new gyprock and brick house that had around half a metre flowing through it .
The paint work was done around 4 months after the flood.I was certain that the mould was going to be a problem in the walls,
So I cut some holes in the walls and inspected them.
To my surprise they were like new,I didn't even have to repaint the glosswork.
It would probably be different if the water sat there for a week,but this one went in and out in the day.
So pretty much most of QLD are no go to buy investment properties.
Would be different for every House,I was worried last week about one we control in inner Brisbane but the water only came in and stayed at about 400mm,and that property was under water during the 1974 floods 3 metres above the top roof line
and is still as solid as it was when it was first built,water is only a problem when it sits like what would happening in several Nth Qld costal towns,like Rockhamption the longer they sit in water the more damage will be done..good luck too anyone that has investment properties in those town,this flood was not a "Black-Swan"a lot of people knew it was going to flood,and for the cunning this is going to be a testing time for all,all Qld miners will be tested on value now,the same as the "Q"rail recent float,good luck..
No, you just need to be more selective about the area of town you buy in. Most councils publish maps showing the area covered by their calculated 100 year flood level. In most cases, you are not able to build habitable space below this level now anyway, meaning if you buy land below the flood level, you would need to build it up or put garage areas underneath so the floor level is above the flood height.
Granted, some regional towns are completely below the 100 year flood level, but most major regionals have higher areas and known flood-prone areas. Recent events may increase the price differential between them.
