No other category of issues has reduced the fun of buying a new home like environmental concerns. It seems that every few years another environmental issue comes to light AND the list of “known concerns” persist. There are at least two lessons to learn from this:
- New frightening issues normally fade with time into more routine and manageable concerns, for example radon mitigation.
- The routine concerns still deserve some attention for proper management.
Management of an environmental concern might best start by dissecting it into two parts:
- What are the health implications?
- How much is it going to cost to remedy?
First, quantify the health implications by doing the appropriate research or testing. Compare the results to existing standards and your personal circumstances. Decide if some mitigation or abatement is appropriate.
The economic concern centers around how necessary actions will be paid for. Get help from your real estate professional or your lawyer.