Moldy homes are a major problem because mold spores are so ubiquitous pretty much every indoor space will have mold that is capable of becoming a problem. You don't even need water in the traditional sense to allow mold to grow, condensation can start the mold growth process.
Understand mold will likely start to grow where you are not looking, in attics, basements, crawlspaces. Mold will also grow in dark, damp spaces, so it’s often found in basements, and crawlspaces.
Now, not all mold is worrisome. And since virtually every home has trace amounts of mold growing, it’s nearly impossible to avoid buying a mold-free house. But there are some significant dangers to buying a house with mold growth.
If mold is left untreated, mold can spread to other areas of a home and may cause health troubles, not even taking into account damage that mold causes and the associated repair expense. If you’re thinking about buying a property with a mold problem, you may want to think again.
Just in case you think its a good idea to buy a home with mold, here are some reasons why buying a home with mold is not the best idea.
1. The type of mold is not important.
Supermarkets are full of foods that can have adverse health affects on people that are sensitive (allergic) to the food, think lactose, nuts, etc. One of the dangers of buying a home with mold is you don't know 100% is your immune to the mold or if your family will have immunity.
Someone who is unfamiliar with mold might be unable to recognize the signs, even if they were to see them. Further, mold often grows in hidden spots you can’t easily get to, like underneath carpets or in the attic.
Mold growth is often missed by traditional home inspectors as well unless there are obvious physical signs. This means they will not be able to identify all the problem areas properly, so you could wind up buying a home with severe mold issues. To avoid this issue, it is highly recommended to schedule a professional mold inspection before buying.
2. Mold Is Not a Selling Feature
Invisible, odor free mold spores are ubiquitous in our environment So when somewhen says mold is everywhere they are correct, if mold wasn't outside mulch, leaves and grass clipping would never degrade. But mold growing in a home, is a problem and it is not a feature that would help sell the home. The appearance of mold is very unappealing and mold can be many different colors, including green, brown, yellow, black, or white.
From dealing with mold in real estate transactions for over 20 years, it is a defect that most all buyers will want addressed prior to settlement.
4. Mold Is an Indoor Air Contaminant
Mold can impact health, especially for children or people with pre-existing health conditions. Mold exposure has also been associated with other upper respiratory infections as well as infections of the lower respiratory system. Mold can also trigger allergies. Sometimes mold-related allergies can develop into more serious illnesses, such as pneumonia and bronchitis.
Individuals with a weakened immune system, will be more susceptible to developing mold-related infections.
5. Mold Remediation & Repair Can Be Expensive
Mold growth can require replacing sheetrock and wood that is impacted with mold. Many a finished basement had to be demolished to get mold behind walls, and that includes removing and throwing away basement carpet. Deconstructing a finished basement and rebuilding it can be expensive.
When mold grows on porous personal items like furniture, bags, papers or clothing, it’s virtually impossible to remove mold completely and you will likely need to throw it out. Hard objects that can be wet wiped can be saved.
6. Flippers Rarely Address Mold Issues
Buyers assume that recently renovated homes must be mold-free. But this is not always the case. Many real estate investors and “home flippers’ choose to paint or cover up mold which is a quick, easy, and completely cosmetic fix. It does not get rid of the mold – it just covers it up. Think about any DIY home improvement show, they work fast and find ways to cut corners. Flippers have been known to do that as well.
Buying a home that has been flipped or renovated is risky when it comes to mold and it can be said that these type of transactions should 100% of the time get a mold inspection with testing performed prior to settlement. can be quite risky. We highly recommend that you ask the seller to provide both an air quality test and a comprehensive mold inspection.
7. The Difference Between Buyers That Conduct Mold Inspections – and Those That Don’t
Before you buy any home, a professional mold inspection is a good idea. Mold remediation on the low end can be under a thousand dollars, but mold remediation and property restoration can exceed $20,000. Not an insignificant amount. To be fair many mold project cost $5,000 to $10,0000..
The bottom line is that if you’re considering buying a home, you should seriously consider need having a mold inspection performed to cover yourself.
We had a couple buy a flipped home, months after moving (after after the new carpet smell went away) they smelled mold, $17,000.00 later they wished they had a mold inspection before purchase. A $500 mold inspection with testing would have found the problem
8. What to Do When Buying a Property with Mold
Mold remediation is multi step process and if you are purchasing a home with mold take note of the following:
- Determine the source of the mold, what caused it (often times it can be a variety of factors that allowed the mold to grow), you must find them all.
- Ensure all causes of mold have been fixed, otherwise in time mold can return.
- If you know you are buying a home with mold, at this point you should also know where the mold is located. A mold inspection with testing *average cost $500 to $1,000), will help define the extent of the problem
- Budget for mold remediation and restoring the area. We recently completed mold in a walk out basement. The basement was finished and remediation which including demolishing walls, cabinets, carpet, ect cost around $12,000.00 Now restoring the area back to a nicely finished space, well that cost over $24,000 Again cabinets were removed and apparently new cabinets cost over $8,000, in case you were wondering how restoring an area could be so expensive.