Foundation problems like cracks, holes, leaks, mold (on the inside or outside of the foundation walls) are all signals that your home has the potential for big problems.
The problem is that many home owners assume that cracks in the foundation are normal. They often assume that it is just "settling." Same with leaks and mold; it is often assumed that these problems are just a normal part of having a basement.
However, these problems are serious and can lead to:
1. Health Hazards
Mold is very dangerous. When there are problems in your foundation or basement walls, water gets inside. Mold lives off of water and moisture. Even a small crack in the wall or floor can let in enough moisture for mold to grow and spread at an alarming rate.
As it spreads, mold gives off toxic, microscopic spores that get into the air of your home. You and your family breathe in this air and the spores enter your body through your eyes, nose, mouth and any area that has mucus membranes.
Before long you will be affected by rashes, sinus problems, severe headaches, confusion, joint pain, and more serious problems like cancer.
Fix your foundation and you stop moisture from getting in. No moisture, no mold. Have whatever mold already exsists removed and improve your home's air quality and your family's health instantly.
2. Foundation Collapse
This is a very preventable problem that is, unfortunately, often ignored until it is too late.
Those small cracks grow fast. Sometimes they get large enough (usually on the outside wall of your basement, the part you can not see because it is underground), to allow a significant amount of water in every time it rains or snows.
That water weaknesses your foundation walls to the point where it can no longer support the weight of your home and the walls buckle in. Once this happens, you are looking at extensive, major and expensive repairs. If it can be repaired at all.
Fix the problems early to avoid this problem!
3. Lowers Home Value
Mold and foundation problems lower home value like nothing else. Show your home to a potential buyer and watch them run from any signs of water damage, foundation cracks or mold. Why? Because these are serious problems that can be expensive to fix if you do not fix them in a timely manner. This will lower your home's value, fast.