The common problem that could be wiping £50k from your property value

If you’re planning on then right now is a pretty good time. According to Rightmove data, February and March are the prime months for selling, with seven in 10 sellers able to sucessfully close a deal. However, when it comes down to it, the process is often not as easy as all. And there is one specific thing that could reduce your property value by tens of thousands of pounds.

Experts at property loan provider, Buzz Capital say could knock your property value due by 20%, which is over £53,000 based on the current average UK house price of £267,700, according to Zoopla. Data from Uswitch reveals that more than 60% of Brits have reported mould in their homes and while many believe these cases might happen mainly is rental properties, half of them are actually privately owned.

Alena Walker, property-lending expert at Buzz Capital explained: “Potential buyers are wary of the health risks associated with mould and the high costs of remediation. Many will factor in these expenses when negotiating a lower price, or may avoid the property altogether.”

Mould can be a serious issues if not addressed and the expert observed that increasing energy costs have made it more of a challenge to heat homes “effectively”, therefore resulting in damp and condensation becoming “more prevalent than ever.”

Fortunately, Glen Peskett, a home maintence specialist has shared his tricks on how to both spot and prevent mould, if you do think you might have it in your home.

Glen says to check walls and ceilings for water stains, falking paint or wallpaper, as well as warped skirting boards or floors as they are all signs of of water damage. If you find black, green, or white patches on walls and ceilings it is also a strong indicator of mould and moisture issues that need “immediate attention.”

He also explained that damp areas with a “distinct musty spell that can fill a room”, and walls or ceilings that “feels cold or damp to touch” are a sign of moisture and should therefore be checked out.

The last thing according to the expert that homeowners should do to spot and prevent mould is “look for signs of condensation, such as water droplets on windows or cold surfaces; this often indicates that moist air is meeting a cooler surface.”

Glen advised: “Keeping your home warm, especially in these colder months, can help prevent mould. If you’re on a standard variable tariff and struggling with energy costs, consider switching to a fixed energy deal.

Also consider the small DIY methods that can make a big impact, like pulling furniture away from walls, keeping lids on pans while cooking, and trying to dry your clothes outside where possible.”