What happens if you find your dream house, only to discover it has mold? Is it worth it to go through with the purchase? This is a question potential home buyers struggle with when they discover that the home they want has mold. It’s not as simple a decision as one may believe.
Buying a Home with Mold
Mold can cause health problems, which might be one of your first concerns. However, mold in a house may help you to get a discount, and the mold may be able to be removed. As you can see, weighing the pros and cons of buying a home with mold can be tough. Here are a few things to think about before buying a home with mold.Appraisal Issues
If mold has been discovered in a house, the home will usually be more affordable. Large areas of growth or growth in unusual spots will lead to a lower home value, and sometimes the amount of mold growth is missed in a general home inspection.With that being said, don’t make an offer on a home in Heritage at Cadence with mold until you’ve had an independent appraisal. FHA appraisers with note the specific type of mold in the home and where it’s located. Knowing this information may help you to decide if it is worth it to purchase the home or not.
Cost to Fix
If you’ve decided to move forward with a home with mold, you’ll probably want to get that taken care of early on. The cost to fix can range anywhere from a few hundred dollars to a few thousand dollars or more. The cost all depends on the size of the contamination area, how handy you are (if you’re planning to fix it on your own), your sensitivity to mold, and the location.That’s why the appraisal is so important so you know what you’ll be taking on. It’s definitely important to hire a mold inspector so you know the type of mold in the home, the health risks associated with it, and to create a general plan of action. You’ll also want to see how you can prevent mold from ever coming back, like fixing any water problems in the home.
Health Effects
Mold in a house can cause allergies and mold symptoms. The people most at risk for getting sick are babies and kids, pregnant women, the elderly, and those with preexisting health conditions. Adults who live in a house with mold are 50 percent more likely to develop asthma.You’ll want to consider removal costs if you or the people you live with will be moving into a house with mold. Look at fixing water problems in the home so that mold does not come back and continue to grow and cause problems.