Yes, mold does cost money to repair. Does saving money from a problem peak your interest? We have helped many homeowners do exactly that. By knowing a few tips and tricks; you can legitimately increase your net worthwhile at the same time solve a mold problem.
The thought of mold removal cost can be a red flag for some people. When they find a mold house or a building they are looking to buy. Taking care of mold can be a very time-consuming and costly process. Investing in a place with a preexisting mold condition often does not appear to be worth the effort. It is just too overwhelming!
The truth, however, is that buying a house with mold can actually be in your best interest. Because most people look at mold issues as a reason to not purchase a house. Therefore, properties with mold will often time sell at lower prices. Sellers know that mold will keep them from finding a buyer easily. Sometimes they are willing to let their property go for less than they would if mold was not involved. This provides the buyer with instant equity! Our recommendation is that you talk with a mortgage company that provides not only conventional loans but also 203K loans.
One of our favorite stories is a customer we helped gain over $15,000 in instant equity. They were able to purchase a molded home that they loved. The mold in the home was caused by improper humidity control. With the advice from our mold professionals; the buyer was able to remedy the humidity issues through a simple venting and air conditioning repair. We were able to remove all mold safely and restore the property to like-new condition. The best part of all, the buyer was able to secure a loan to pay for all of it. They still come out ahead with a $15,000 gain in equity. This customer has lived in his mold-free home for the last two years and couldn’t be happier with his decision.
When looking at homes that have mold; we suggest buying a house where the mold was caused by an easily resolved maintenance issue. Such as cracks in the foundation, grading and gutter issues, pipe breaks, or previous water damage issues that were never taken care of. Inefficient ventilation in attics or crawl spaces can cause water damage. Which results in mold forming. However, the attic ventilation can be repaired so it will no longer cause mold problems. Another reason for the mold that is easily resolved is elevated humidity. Most often from an ineffective air conditioning system or improper ventilation. If mold is present, it will most likely be found during a home inspection. Also, you can ask for a mold inspection.
A house with black mold is more common in the Kansas City metro area than you might think. Mold has for many years been a consistent problem in many houses around moist places. The appearance of mold in any house is unsettling. Before you buy a house with black mold, you should consider factors such as your health, available budget and the urgency of getting the house.
When making a decision on whether to buy a house with mold. The remediation of the mold should be considered first. There can be serious health problems if the mold in the house is not properly removed with care by a certified professional. A house with black mold should never be considered safe to be removed by general contractors or DIY methods. Most of the varieties of mold are toxic with the black mold being one of the more serious mold types.
The available budget is also a factor to consider when buying a house with black mold. When buying a house with mold you have bargaining power. That enables you to receive a significant discount on the house. Buying a good house without mold is very expensive making it impossible for everyone to afford them. Hence, having an opportunity to buy a house at relatively less price is a good idea. Many cases of mold are treatable and can be prevented. The moisture source causing black mold can be removed before the house is occupied. Measures to prevent future occurrences be adopted. However, when buying a house, you should consider the cost that would be required to inspect and repair the mold problem. Costs of repair include cleaning, treating, and removing any contaminated items.
The urgency of getting the house is another factor that should be considered before buying a house with black mold. This is because if a house has black mold, it requires time to investigate its source. To fully understand the extent of the problem. You should not take the seller’s word concerning the presence of mold; personal inspection should be the first priority.
Buying a house with mold sounds stressful. However, if you take the proper precautions to hire a high-rated professional mold removal company. With an emphasis on customer service and quality, it doesn’t have to be. In summary, the house is also worth buying IF the costs of repairs and inspection are a minimum of 25% less than the discount provided.