How Much Does Mold Devalue A Home

Published on August 26th, 2022

How Much Does Mold Devalue A Home?

Interestingly, some buyers seek homes with mold spores to get a better deal.

Mold growth can cause damage to the building and decrease its resale value. The most crucial factor to be taken into account depends on mold infestation size. Mold growth in the property exterior might be less harmful and cause fewer health problems. So, it will not affect your property value.

However, a buyer can also consider the costly mold remediation in the bid, resulting in decreased home resale value.

Also, it's vital to notify potential buyers in case you intend to conduct a mold inspection as well as mold remediation on the property. 

It goes without saying that the potential health hazards posed by mold growth could significantly impact the inhabitants of the household and cause asthma attacks due to the poor ventilation and excess humidity levels caused by mold contamination.

While you are responsible for providing them with a warning about mold growth, it is their responsibility to investigate the effects mold growth creates.

On the other hand, it is essential to remember that not all mold growth is beyond repair. You won't need the assistance of a mold remediation specialist if the affected area of mold growth is less than ten square feet.

However, this is just a standard operating procedure. It is possible that you will also need to think about the kind of mold spores that you will have to deal with.

Mold removal is a very labor-intensive process that requires great care and attention to detail, including the use of the appropriate containment materials and adherence to containment protocol.

To properly remove mold, a person is required to wear a plastic suit and a respirator (mask) that is equipped with mold-specific filters, also known as volatile organic compounds (Volatile Organic Compounds), to prevent health risks.

Know The Difference Between Toxic Mold And Mildew?

Most molds we think of are non-toxic mildew that lurks in areas of excess moisture, such as bathrooms and dripping air conditioning. The mildew, fortunately, does not cause much mold problem besides an unsatisfactory scent, but professionals disinfect it to ensure that it doesn't eventually become a greater mold issue.

In contrast, it is possible to easily identify mold infestation by its color, which is dark and black compared to yellow-grey or white mildew. The black mold group, commonly labeled black mold contains anything from relatively harmless penicillins to asthma-provoking Stachybotrys infections.

Mold Remediation: Sell A House With Moldy Walls And Ceilings

Although it might appear that selling a home with toxic mold issues is impossible at first, there are companies to tell you that there is still hope for your mold-infested home despite the mold infestations.

To get your moldy house back in shape, all you need is a mold inspection and antimicrobial cleaning performed by a trained professional. The necessary steps are as follows:

Get going as quickly as you can

You most likely do not want potential buyers to associate your property with a mold inspection that is still ongoing. It is, therefore, imperative to address any mold in your home before putting it up for sale. Before listing anything, you should hold off until the cleanup is finished.

Carry out a complete and detailed investigation

Crawl spaces and attics, two of the least used areas in a mold-infested home, are common hiding places for toxic mold. When you are on the hunt for mold inspection, it is imperative that you investigate these two locations to the fullest possible extent.

In addition, areas that are commonly exposed to moisture, such as the back of a water heater or a dishwasher, should be considered.

Mold contamination has a propensity to grow in the basements of homes at risk of flooding and other types of water damage and water exposure. Examine every square foot of this area with a comb that has very small teeth to locate any mold damage.

Getting ahead of a problem as soon as possible can save you a lot of trouble and emotional anguish in the long run.

Always include a mold growth history in your disclosure

In many states, home sellers must inform prospective purchasers of any recorded examples of mold or fungal growth in the property. In addition to this, the purchasers of the property are required to be notified of any professional remediation efforts that the vendor has made.

Living in a home that has a widespread mold infestation can even have grave consequences on one's health over the long term.

If you believe that being aware of mold in a property would directly impact your decision to purchase it, you need to make sure that the buyer is aware of this information as soon as possible.

Will mold growth on the exterior of a property, such as the siding, negatively impact the property's market value or marketability? Almost certainly not. In particular when it comes to being a problem with regard to health hazards and safety.

Keep in mind that the objective of mold removal is to bring the mold spores count within the building down to the same level or lower than that of the building's exterior. 

Therefore, if the mold spores are only on the surface, there is typically no cause for concern from a health standpoint. On the other hand, it might change the way the outside of the house looks, which might make it less appealing to potential buyers.

The best way to assess the extent of the mold infestation is to have the official assessment done after the remediation. Both water damage and mold are important factors to consider in the appraisal.

References:

https://cnbusinessnews.com/how-much-does-mold-devalue-a-home/

https://clevelandappraisalblog.com/2019/02/14/yes-there-is-mold-in-your-home-when-does-it-affect-value/