by Francis Jock

Created on: April 29, 2009   Last Updated: May 01, 2012

Before deciding not to buy a property that has mold, you should consider the facts about mold and how it can affect both your health and your finances. Consider these facts: Mold a fact of life and is present in homes everywhere. Mold occurs naturally in damp basements, crawlspaces, improperly vented bathrooms, and anyplace else where the combination of high humidity and low temperature exists.

There are millions of homes that have mold, but does that mean you should buy a property that has mold? The answer may not be as straightforward as a simple "No!". Mold is recognized to cause health problems, especially among people sensitive to mold allergens. Black mold is the most serious toxin, causing flu-like symptoms and death in some cases. Contact with anything that has mold present can cause allergic reactions, asthma attacks, and respiratory problems.

If there is a mold problem in a property, either disclosed by the seller or revealed by a home inspection, you should study the problem carefully to determine the type of mold present and whether or not it poses a threat to the health and well-being of your family. If you are buying it as an investment property, consider the future marketability of the house.

The musty odor of mold coming from the basement is a dead giveaway that it is present, even if it is out of sight. Mold reproduces by spreading minuscule sized spores throughout the home. Any organic material, such as furniture, cardboard boxes and clothing items that have been stored for extended periods of time are prone to attack by mold. Some experts have suggest mold can be removed by cleaning the affected item or area in a solution of bleach and water. At best, this is only a short term solution, as it does nothing to correct the combination of high humidity and cool air that enhances mold's growth in the first place.

The cost of making repairs in areas where mold has been flourishing should be taken into consideration. Attempting to make repairs by removing and replacing drywall, cabinets, fiberglass insulation, and wood wall studs does nothing to correct the source of the problem: ground water, humid air, cool basement walls and improper ventilation.

You can spend thousands of dollars installing dry-basement solutions, dehumidifiers, and moisture-proof insulation. Installing a dehumidifier that is designed to remove moisture from the damp air in the basement is a good start. Correcting ground water seepage, cracks in basement walls, and installing a cover over an open sump pit are three more good idea. Adding moisture proof (inorganic) wall and floor insulation are two more.

Making repairs and installing dry-basement solutions may make it a reasonable decision, but be well informed of the cost of materials and labor. In today's turbulent housing market, it could take an inordinate amount of time to recover the money you will spend correcting the mold problem. On the other hand, a great home with all the features you've been looking for might be worth the money spent on these solutions.

Sometimes, the best decision for a problem such as this is to simply walk away because it is either too large or too expensive to solve. The presence of mold in a home is one of those kinds of problems. If you can easily identify the cause and make all the necessary repairs at a reasonable cost, perhaps you should buy the home. On the other hand, the risk to your family's health may far outweigh every other factor, including price and opportunity. It could easily become an expensive, yet avoidable mistake.

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