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Mold Damage Can Decrease the Value of Your Home: Here’s Why

Mold damage and the effect on your home’s value

Most of us are familiar with the obvious consequence of mold damage – it affects your home’s structure. However, what homeowners often disregard is that furniture, clothing, keepsakes, and other belongings, too, unfortunately, fall victim to it. Not only that, but mold plays a big role also as it pertains to the property value as it’s a common concern for both sellers and buyers.

 Although mold in a home doesn’t have to ruin a sale, it can negatively affect the value if the problem isn’t tackled properly and timely. Let’s take a look at an example of one of the ways in which mold negatively impacts value, perception. For instance, no potential buyer wants to walk into a home with mold. Simply put, it just isn’t appealing. 

Mold Disclosure

A mold issue undiscovered or undisclosed until late in a home transaction sets a negative precedent for the relationship between buyer and seller. For the latter, an uncovered mold infestation presents an uphill battle to restore the former faith, as well as possible legal liability if one has failed to make a proper disclosure. 

For the former, not only does a mold issue diminish enthusiasm, but also, in some instances, it leads them to question the reasoning of the buyer for the lack of disclosure. Even if the root of that is a bona fide error, it can be difficult to restore trust. This is one of the reasons why California is among the states that require sellers to disclose mold information. Keep this in mind: The duty of the seller to disclose is only in relation to things they know about or reasonably should know about, i.e. it’s not their duty to, for instance, go poking around in the walls to check for mold.

Checking your attics and crawlspaces

It’s very common that mold in crawlspaces and attics is discovered late, often during a sales transaction rather than before. This happens because mold is usually overlooked in these areas, and it’s only detected in damp spaces like under sinks and basements.

We wouldn’t want to ring the alarm, but if there’s mold in your attic, your home is very likely to have other problems too, such as improper ventilation or a leaky roof. So, this is why you should do a full inspection and ensure to remediate any mold problems before listing your property for sale. The money, work, and precious time you will spend on improving your property and attracting potential buyers can put you in a position to set a higher initial price.

Fixing problematic water sources

Generally, mold is a sign of a water problem. However, don’t think painting over it will solve it. Yes, you will probably get some quick results, but that’s not the best course of action in the long run. Why? Because if the water source isn’t dealt with properly, you will inevitably see the mold return. Building materials damaged by water must undergo replacement, and depending on the amount of damage, it could turn out pretty expensive. Other items may require replacing as well. For example, if a carpet’s been wet for longer than one-two days, replacement is the best option.

The fact that there is a correlation between mold issues and property value, is nothing new. If you fail to address and solve such problems, they can reduce your home’s value by as much as 10%. But the price blow may be even higher if you ignore other conditions, too. Homeowners, particularly sellers, should do a full home check, in order to detect potential water problems and repair them as quickly as possible.

Potential health problems caused by mold damage among reasons for mold disclosure

Apart from affecting the appearance and the perception of the property, mold may also cause the buyer to worry over potential health effects. Any home with mold isn’t going to be a healthy place to live. People can experience bothersome or even dangerous symptoms, particularly those with allergy or breathing issues, compromised immune systems, the elderly, and children.

According to the Environmental Protection Agency, studies show mold odors in the home can increase the rates of asthma in children up to two and a half times. This is one of the reasons why some states, California included, require sellers to disclose information about mold. 

Why is mold damage remediation best done by professionals

Since the negative effects we discussed above are just some of the undesired consequences of mold and water damage, you are aware that inspecting and doing mold remediation is not something that you should do on your own. No, this is not a DIY task, no matter what anybody may tell you.

It’s a field that most definitely requires a professional service. Additionally, if your home has suffered mold and water damage, you need to act as soon as possible. The longer you wait, the greater the risk for both you and your home. 

Keep your property’s value high – Hire Save The Day Restoration to fix your mold problem

So, knowing what we know now about mold damage, you see that mold remediation isn’t something you’d want to take on your own. Why expose yourself and your home to unnecessary risks when there is a simple solution? Act now and hire Save the Day Restoration. Our dedicated and licensed crew will take care of the restoration process so that you don’t have anything to worry about. You will feel safe, knowing you’ve made the right decision. Simply put, if you want to get the best service, they’re just what you need. For more info, contact Save the Day Restoration at (562) 246-9908 or email us at [email protected]. You can also fill out our form here for a free consultation.