The answer to the question of “how much does mold devalue a home” is about 50%. Mold decreases a house’s value by half of its original value.
Even after treatment, your mold contaminated house still loses about three percent of its value. Learn more about the subject of mold and house value in this article.
The Selling Value Of A House With Mold
Generally, mold decreases the value of the house. In severe cases, it may even diminish the overall value of a luxury house to more than half of its original value. A loss of that extent can be translated to thousands of dollars.
Devaluing a home is just one of the effects of mold. Often they may even pose adverse health effects.
Either way, the effects show how important it is to fix mold problems as soon as possible. Especially check the basements and crawl spaces of your homes because they are susceptible to mold.
Despite having mold contamination, you may still be able to sell your house. Look into how that may happen below.
Can you sell a house with mold?
Yes, as long as you disclose it. You should tell your buyers the mold-affected parts of your house.
Also, inform them whether you plan on doing a mold inspection and mold remediation. We’ll discuss the process and costs of those two below.
Some buyers prefer to buy homes with mold because they are cheaper. Although, of course, it comes without saying the health hazards of mold may endanger their lives. It is your responsibility to warn them about the mold, but it’s their responsibility to research its effects.
Although, it is good to note that not all mold contamination is unsalvageable. If the mold growth is less than ten square feet, you may remediate it without expert help.
Although, this is just a general rule. You may have to consider the type of mold you are going to deal with as well. Here’s an article about mold identification through color that may be of help.
Mold inspection costs
The reason why mold contamination is intimidating is because of the costs that come with it. For an average-sized property, the mold inspection alone may cost around $300 to $500.
The process and inclusions may differ. Sometimes, the inspection is free if done with mold remediation.
Some include sample testing with a comprehensive investigation. For large properties, the average cost of an inspection is $700 without mold remediation.
Another factor to include in mold inspection cost is the location of mold growth. If the area is challenging to access, the price may go up to $700 for an average-sized house.
The low access and visibility areas are air conditioning and heating vents, wall cavities, and crawl spaces. Mold contamination in these areas may lead to a higher mold inspection cost.
For highly accessible and visible spaces, the inspection only takes two hours. However, if the inaccessible areas are included, then it may take six hours.
If testing is included, then experts will test your home’s air for toxic spores. This test’s cost ranges from $70 to $150. A mold air test is essential because some mold spores are harmful and lead to severe respiratory problems.
Some experts may also test the mold in your home. Mold testing may include black mold testing, white mold mildew inspection, and pink mold checkups. If pink mold sounds foreign to you, look into this article about “what is pink mold” to become familiar with it.
After mold inspection, the next step is mold remediation. Find out more about it below.
Mold remediation costs
Mold remediation costs $2,325 on average, or about $15 to $30 per square foot of mold remediation. For severe cases, the price may reach up to $6,000.
However, if the mold-contaminated is less than ten square feet, you can fix the issue yourself for just $50. If you break down the cost of mold remediation by the hour, the price is $75 to $108 per hour.
The main factors considered in mold treatment are how early the mold was detected and how it is treated. If it is treated too late, there are inevitable additional costs due to damaged home structures (e.g. drywall, subfloor).
In such circumstances, additional costs may reach $5000 and possibly beyond. It depends on the extent of mold contamination and the damage it has done to your home’s structures.
Under mold abatement, the mold removal experts will contain the mold. Under this process, professionals remove the mold and thoroughly clean the area. They also dispose of the containment materials appropriately.
After containing the mold, the removal process is done. Removal involves antimicrobial cleaning, where professionals disinfect the affected area.
After antimicrobial cleaning, abrading is done. Finally, dry ice blasting is done in addition to vacuuming the area with a HEPA vacuum to remove 99% of mold spores. The last step of mold abatement is encapsulation, wherein experts prevent mold from growing.
Mold has many adverse effects, whether in health or shelter. Knowing about “how much does mold devalue a home” will hopefully help you appreciate a mold-free house.