When you find green and black spots behind your appliances or growing up the side of your basement, it may be time to consider mold remediation. Not only can the spores make you sick, they can also decrease the value of your home and lead to structural and cosmetic problems.
It’s natural to have questions about the remediation process. The more you know, the more comfortable you will be with going forward with the services. Here are some important things to know about mold remediation.
How Is the Cost Determined?
Most homeowners worry about the cost of mold remediation. It is determined by a couple of different factors. An inspector will check to determine if there is a problem, how much is in the home, what kind of spores there are, and how they can be removed.
The more spores there are and the harder they are to remove, the higher the cost will be. If the spores have spread to other areas of the home, there may be added costs, as well.
Can Mold Grow Back After Remediation?
Once the fungus is found and remediated properly, it will not grow back. That doesn’t mean you will never have a problem again. If you have a leak, flood, or water damage, a new fungus may grow.
It is important to not only remove spores but also locate and repair the cause of the leak that lead to the growth. Protecting your home from dampness is key to prevention.
Is Mold Remediation Covered by Insurance?
Most home insurance companies will not cover mold remediation, but it always a good idea to check with your provider. Insurance will cover mold remediation if the problem is caused by a “covered peril.” These covered perils can vary by company and policy, but some examples are:
- Frozen pipes
- Overflow of water from appliances or pipes
- Weight of snow and ice
If you are curious if these services are covered by your insurance or think you may have a “covered peril,” check with your insurance company before paying for removal out of pocket.
Can Mold Remediation Increase My Home’s Value?
If left unchecked or ignored, mold can cause severe damage to a home and even cause health problems for the people living in it. Fungus growth can cause structural damage, property damage, and more.
This is why remediation can improve the value of a home.
When your home has been inspected and all fungus has been remediated, certain risks associated with it are gone, and your home’s value automatically increases.
Are There Any Tax Benefits of Mold Remediation?
If you own a home or are a landlord of a home where mold remediation has been completed, you can deduct the cost on your taxes. Because the remediation adds to the value of the home and delays depreciation, that cost can be written off as a business expense.
You must do an itemized deduction in order to get the tax break. Keep a record or receipt of your remediation service as proof in case of an audit.
Let the Experts Help You
Finding mold in your home can be stressful and frustrating. You have enough expenses; the last thing you want to do is worry about the cost of fungus remediation.
Luckily, the cost is likely less than you expect, and when you consider the fact that your insurance may cover it and what isn’t covered can be written off on your taxes, it seems even more affordable.
If remediation can help increase the value of your home and keep your family healthy, why wouldn’t you do it?