Buying a House with Mold: What You Need to Know
Are you shopping for the home of your dreams? Consider whether buying a house with mold problems is the right decision for you.
Did you know that 28% of the population is highly susceptible to health issues caused by mold?
Not only can mold cause serious health problems for your family, but it also can significantly impact the overall value of the home.
Conditions that encourage the growth of mildew and mold can cause the structure of a home to rot, increasing the chances of structural damage. If you’re thinking about buying a house with mold, we’ve created a complete guide to help you better understand what you’re buying a house with mold problems is the right decision for you.
Keep reading to learn more!
How Mold Affects the Overall Value of a House
If you’re considering buying a home that has mold in a crawlspace, bathroom, addict, or an unfinished basement, removing mold can be expensive.
That’s why it’s essential for you to have an independent appraisal done on the house before you purchase it. Independent appraisers are required by law to mention if the home has mold growth in it. They’re also required to name the type of mold and where the mold is growing.
If an independent appraiser has noted that you have black mold growing in your home, you should be very cautious and contemplate purchasing a home. Black mold can cause permanent damage to your home and your health. There have even been some cases where black mold has caused death.
When there is a large growth of mold, the home is likely to have a lowered value. During an inspection, you can also expect to learn the cause of the mold and how much you can expect to pay to have the mold removed.
Legally, the sellers of the home are also required to disclose if there’s a mold problem in the home. You shouldn’t trust the disclosure of the seller or a real estate agent in regard to the growth of mold in the home. Even if the home has had a significant reduction in price, the cost of removing the mold from the home could be worth more than the home itself.
Consider the Health Effects When Buying a House With Mold
Every person responds to mold exposure differently. There are some people who may have a mold sensitivity, while other people in your family may not react at all to mold. Infants, pregnant women, people with a suppressed immune system, children, and the elderly are likely to experience respiratory problems when exposed to mold.
Some types of mold are more toxic to humans than other types, which can cause health problems such as asthma, difficulty breathing, and coughing. While brief exposure to mold won’t cause serious health problems, you shouldn’t purchase a home that has mold and less you plan on getting the mold removed from your home as quickly as possible.
How Much It Costs to Remove Mold
To properly remove mold from your home and make sure that it doesn’t grow back, you’ll have to hire in mold remediation specialist. A mold remediation specialist will remediate the areas in your home that have mold, but also making sure that most spores don’t enter into other parts of your home.
The cost to remove mold from your home greatly varies on the level of infestation and how much if your home is affected. Even if you have a general idea of how much mold removal will cost you, make sure that you take the time to shop around for different quotes.
The pricing of mold removal can vary greatly depending on the company. This variety and pricing depends on the experience level the company has, as well as the type of guarantee they offer if the mold happens to grow back.
Home Insurance
When purchasing a home with mold in it, the mold is considered to be a pre-existing condition. That means insurance companies won’t cover the cost of any damages caused by the mold.
Deciding to Purchase a Home With Mold
Each case of mold in a home is unique, which means that there isn’t a right or wrong answer to deciding to purchase a home with mold.
However, if you or someone in your home has allergies to mold, avoiding purchasing a home that has mold in it is a smart decision. If you have the money and the time to get rid of the mold in a home, purchasing a home with mold can help you to save money if it has a low appraisal.
As long as you take steps to protect you and your family, buying a home with black mold isn’t a bad decision. Just be sure to hire a structural inspector before purchasing your home to make sure that there aren’t any structural issues at the home that need to be fixed.
You should also have a more professional come in to inspect to see if the mold growth is black mold or any other type of toxic mold growth.
Buying Your New Home
When buying a house with mold, you should take preventative measures to protect your family from the potential negative health effects that untreated mold can have.
Before finalizing any purchase in your home, make sure to have a third-party inspector out to the property to identify the type of mold growth it’s in the home. Sometimes, the crossword it’ll take to remove mold from my home may be worth and then the actual home itself.
Are you interested in finding a company to help you with a mold inspection? Click here to learn more.