Water Damage, Mold Removal, and House Flipping
With home values through the floor at the moment, there has been no better time for some enterprising individuals to be able to pick up houses for a song, renovate them, and sell them for a decent profit. Unfortunately, the hidden fly in the ointment of this particular formula may drastically affect your bottom line.
A lot of homes are nor sitting vacant for extended periods of time. Any small leaks or broken seals may allow for the accumulation of water in given areas, and as we all know, unchecked water damage can rapidly develop into a serious mold problem within a fairly short time. Even newer homes may develop mold problems if allowed to sit long enough. Mold can of course be hazardous to your health, and the cost of clean up may be considerable.
And it isn’t just the neglected homes that suffer from this problem. Even well maintained homes can develop water damage and mold problems if leaks or other water problems are allowed to go unnoticed and untreated for long periods. For example, continuous water spills in the bathroom may result in unseen damage to the subflooring, a problem that will not be immediately evident until you go looking for it.
So what to do? Well, look through all possible areas for signs of water damage, and this includes the roof. Any soft spots or stains may be clear indicators of water damage, and damage to the roof may be one of the costlier repairs that are needed. Pipes and fittings should be checked for leaks, and any condensation on windows or walls is a sure sign that something is amiss. Musty smells are another dead giveaway for water damage, and may be a sign that dangerous mold is already present.
Also, if your water bill suddenly increases for no apparent reason, that is a very good sign that water is leaking…..somewhere. Now all you have to do is find it. If the leak is the result of an underground pipe, that is another potentially expensive repair.
Any time you make a real estate purchase, an inspection for the purpose of locating potential water damage or water problems is a must. This is simply because such problems can so drastically cut in to any profit you hope to make. Remember that wallpaper and a nice paint job can effectively mask a serious problem until the damage has been done.
Remember, you own the property, and that includes ownership of any and all problems that may crop up over time. Buying and flipping a house can be an enjoyable and rewarding project, however it may also be a costly one if you don’t know what to look for in the early stages.