I received this question from a reader via email:
I’ve got a big down payment saved up, still renting, and haven’t found a place to buy yet. When I do, I’m interested in a basement that I can turn into a studio. The reason I want a basement is that I have over $100k of audio equipment and don’t want anybody breaking a window and grabbing a bunch of stuff, and it also helps with the neighbors. (Underground means less noise for the neighbors.)
My question is this: is there a way to find out if a basement has ever flooded before? Insurance is one thing, but money can’t replace one-of-a-kind instruments. Is there some way to research this? Some of these electronic instruments are over 40 years old and can’t be replaced, and if they do get flooded they’re probably a write-off.
So, given that many insurance companies won’t do flood or water damage insurance, my question is: Is there a good way to find out water issues at a property? Or is it just up to the good graces of the seller?
This is one where I’m pretty stumped. This is an especially difficult problem since it is entirely possible for a basement to flood and the homeowner never reports it to anyone.
I would assume that a skilled inspector would be able to see signs of possible flooding, but you may need to look for someone who specifically specializes in that sort of issue since most traditional inspectors attempt to be a jack of all trades.
There is a service that launched recently called BuildFax that is attempting to be a sort of CarFax for homes. You can get a free report until August 31st. Unfortunately the utility of this service seems to be pretty limited. I ran their report on my 91-year-old home and it consisted entirely of “BuildFax did not identify…” and “BuildFax found no records.”
So, I open the question up to the rest of the readers. Is there any way to find out the flood history on a home, or does a home buyer just have to rely on a good inspection and seller disclosure?