Many homebuyers tend to bail out of a home sale once they discover it is infested with mold. Nobody wants to handle the high costs of mold remediation especially when they do not know the extent of the mold problem in your house. High levels of humidity and moisture are some of the primary causes of crawlspace mold. It can also be caused by poor ventilation, leaky fixtures, flooded basements, dust, and pet dander. While some people may try to hide the mold problem using paint, a savvy homebuyer may ask for a professional mold inspection if he or she suspects mold contamination.
The real estate transaction can be derailed if serious mold contamination is detected in your home. In other circumstances, you may be forced to provide a reason for the reduced sale price. Having a good idea of how mold can affect your home’s value can help you take the necessary steps to get rid of it completely. In this article, we will be looking at five ways that crawlspace mold can affect your home.
- It Indicates Water Damage
Mold tends to grow in damp and humid environments because they provide conditions necessary for existence. A home that is affected by crawlspace mold is most likely associated with a water problem. Although some people may have mold painted over or completely removed, it will reappear after a short time if the water source is not repaired. This means that a new homebuyer will not only encounter the mold problem, but also water damage that may be costly to repair. They may have to replace carpets, drywall and other items affected by mold. All these factors are more likely to decrease the value of your home because of the high costs of repair involved.
- Increased Health Problems
A home that has a mold problem will not be a safe place to live in because it poses a significant threat to your health. People with compromised immune systems, breathing difficulties and allergies will be most affected. Even though you may remove mold completely, some people will still be skeptical about living in a home that was once infested with molds. As a result, a potential buyer will not be willing to offer a high price for such a house. A home that is free from mold gives peace of mind to a homebuyer who is looking for a nice place to settle for the years to come.
- Mold Remediation is Time Consuming
If the remediation process will take a long time before the buyer can finally settle in their new home, you will have no choice but to list your property for sale for a reasonable discount. Since most buyers take their investment seriously, they would definitely go for a home that is ready for sale without any defects. Even though you may call in professionals to get rid of mold in your home, you will not be able to recover the value of your property. Sellers are required to disclose a history of the mold problem in their home during the real estate transaction. Because of this reason, buyers may still be worried that the problem could be resurgent or ongoing and may not pay for the property as much as they otherwise would.
- It Changes the Appearance of Your Home
The presence of mold significantly changes the appearance of your house interior. It can leave marks on the ceilings, walls, and even the rafters. You will have to make a few replacements in an effort to make your house appealing. However, it is less likely that the replaced parts in your home will exceed the expectations of the buyer. Cleaning does not always fix mold problems especially if the mold spots are visible. The home will definitely be valued at a lower price based on the cosmetic problems.
- Constant Fear
There is nothing you can do to prevent people from being afraid of a home that was once infested with mold. Although mold may have been removed from the space, some individuals will not have peace of mind taking over the home. Since people are not willing to bid, you may be forced to allow a low bidder to win the home.
If you suspect a mold problem, it is advisable to fix it sooner before you begin price negotiations. You will definitely spend more to fix the problem at the last moment than have it done beforehand. It is important to consult a professional mold remediation company if you are uncertain about the extent of a mold problem.