Tuesday, July 30, 2013

What To Do With Your Flood-Prone Property

The Philippines has experienced serious flooding year after year in the recent decade. The most recent flooding instances were brought about by Ondoy in 2009 and the Habagat in 2012. Whenever flooding happens in many parts of the country, a lot of homes and other Philippine properties are often included in the destruction.

Unfortunately, many property owners have to decide on what to do with their real estate properties after a flood because chances are it will happen again in the future. If you are one of these property owners, below are some of your options.

  • Sell it. For some of those who experienced really bad flooding in their property, the only answer may be to sell it. The popularity of this option can be seen by the usual increase in the number of Philippine properties for sale after floods. Aside from not wanting to experience the same thing, some owners cannot get over the memory of what happened and they refuse to be reminded of it. However, you will have to accept the fact that you will not get a good price for your property especially if your area has experienced flooding frequently.
  • Rent it out. For owners who do not want to sell their property but also do not want to continue using it, renting it out is a good option. An advantage is that you can still earn from your property even if you do not want to make use of it anymore. However, it might be difficult to get someone interested in renting your property especially if a flood just recently happened. You can remedy this by setting a good price that will be attractive for those who are looking for a place to rent.
  • Renovate it. If you do not want to part with your property despite the flood that happened, the next best thing you can do is to make renovations and repairs that will help minimize the damages that future floods will do. You can add levels to your house if it does not have any yet so that you have a safe place when flooding occurs. If possible, you may also want to raise the level of your property by adding soil and cement. Planting some trees around the area will also help as well as making drainage paths bigger, cleaner, and more accessible. It will also help to have a plan of action whenever a storm is expected.

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