Mold can negatively impact a property valuation in a variety of ways. If you own residential property, you must make sure you understand what mold is doing to your property. You must consider all the things that mold does to the house before you take action to rectify the problem.
Visual Appearance
Mold can drastically alter the appearance of the interior of your home. Mold inside your home can leave spotting and marks on the walls, floors, ceilings and rafters. Someone who is diligently inspecting the house will notice these marks. The valuation of the home may be lowered based on such cosmetic problems.
Mold can drastically alter the appearance of the interior of your home. Mold inside your home can leave spotting and marks on the walls, floors, ceilings and rafters. Someone who is diligently inspecting the house will notice these marks. The valuation of the home may be lowered based on such cosmetic problems.
Mold & Your Health
Any home that has been infested with mold is not going to be a healthy place to live. Healthy people can experience annoying or even dangerous symptoms due to the presence of mold. People with allergy/breathing issues, compromised immune systems, children and the elderly are especially impacted. According to the EPA, studies show that mold odors in the home can increase the rates of asthma in children up to 2.5 times.
Any home that has been infested with mold is not going to be a healthy place to live. Healthy people can experience annoying or even dangerous symptoms due to the presence of mold. People with allergy/breathing issues, compromised immune systems, children and the elderly are especially impacted. According to the EPA, studies show that mold odors in the home can increase the rates of asthma in children up to 2.5 times.
When someone is valuing the home, they will take note of the air quality or presence of mold in the space. If you are in possession of a house that has been stricken with mold, you need to make sure that you have the mold removed by a professional. A professional cleaning will remove the mold, clean the home and make it appear as though the mold was never there. Mold removal companies that do the work properly also correct the moisture issue, by installing the proper ventilation or proper drainage in the basement. You will have a chance to raise the value of the house by doing this, and you can avoid a sudden drop in the value of the house when mold is discovered. (Check with your mold removal specialist about their warranty’s transferability to the new owners.)
Fear
Even when the mold has been removed from the space, you will find that people do not want to live in a home that was once infested with mold. This fear in unfounded in almost all cases, but you cannot prevent people from being afraid of a home that was once overtaken by potentially toxic mold.
Even when the mold has been removed from the space, you will find that people do not want to live in a home that was once infested with mold. This fear in unfounded in almost all cases, but you cannot prevent people from being afraid of a home that was once overtaken by potentially toxic mold.
Mold that takes over a home has a profound effect on the price of the home. A real estate agent knows that a moldy home will not sell for a high price, and a potential buyer may not be willing to offer a high price for the house. You must take action to correct your mold problem and bring the cost of the home back up over time.
With regard to molds, the public needs to understand the health risks that may result from mold spores in the air. They need to understand all that is involved in air testing for type and quantity of molds, understand the remediation process and then testing again for post remediation air quality. Also, understand that moisture control is critical in any enclosed area and critical to the control of molds. Mold inside your home is a serious problem, which is best handled by professionals to protect your health and to ensure that it is taken care of properly.