We are looking at purchasing a Fibro House. Are there any problems with this kind of investment. Are fibro houses harder to resell? Are there any health problems regarding asbestos?
Thanks
HeatherMost tradesman don’t like working on asbestos houses. Should you need to knock down the place, removal costs are also very high. If possible, I’ll keep away from buying an asbestos house.
is fibro always asbestos?
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
“fibro” does not always contain asbestos, although I understand the term to be used loosely for product that is not fibro – eg hardiplank sheeting – different fibro also contains differing amounts of asbestos as well. This can be dependent on age of fibro (age of house or extension as a guide). This info is from my builder…
Apparently half of the “postwar” homes in Brisbane have asbestos in them – would have been some bargains missed if these had not been bought because they had fibro in them!!
Cheers
CDCastleDreamer
“+CF properties in NZ available now”daltoid,
This article provides some info on fibro and asbestos.
http://www.whs.qld.gov.au/safetylink/hazards/hsub04v2.pdf
kay henry
Just wondering if anyone has had a fibro home re-done in weather board? Just wondering what were the costs like? I know its sorta a difficult one to answer but just a general break down would help me.
daltoid21,
I dont know all the particulars of your property, but I have just purchased a fibro home, initially I was concerned resale etc. However after further investigations I found most homes in this area were fibro homes.
I Purchased at $25,000 and is currently getting a makeover. I have been advised that It would sell for $65,000 when finished. Under these circumstances I consider it a good deal. I guess there are people out there who are not worried about renting/buying a fibro.
[biggrin]I would not knowingly buy a property with asbestos, or if I do will remove it first. All the assurance that asbestos is harmless if undisturbed is like saying there is no risk in playing with matches near a petrol tanker as long as the spark doesn’t contact the petrol.
Originally posted by Celco:Just wondering if anyone has had a fibro home re-done in weather board?
Never had one done, but have you looked at alternative claddings like Permalum?
GP
I have one, was my first purchase, bought it cheap because it was fibro, still had good gains as the area did, will still sell a bit cheaper than others if i ever sell, the rental is also a little less than other weatherboards but it puts money into my pocket every week as well as at tax time, so who is to complain. The main thing it did was got my foot in the door and that can be the hardest thing. I now have a bunch of other properties because it gave me the mindset and thats what it is all about.
Kev[buz2][cigar][strum]
[email protected]I once looked at buying a fibro cottage and spoke to a builder about options in terms of cladding. The builder suggested that I put weatherboards over the top of the fibro as this would be cheaper to do (no disposal of fibro) etc. This then got me thinking about the motivation for recladding. Basically there are two main motivators. Firstly to improve the aesthetics of the house and secondly because of the potential minor health issues if disturbed. I didn’t perceive either of these two reasons to warrant the expense of recladding. The increased aesthetics of weatherboard over fibro is minor in my opinion and the health risks if the fibro is disturbed is virtually non-existent. So in summary we decided that the recladding was an unnecessary expense that would not be warranted in our case. It just so happened that due to us doing all this research and investigation (taking time) we lost the house to another buyer who was not concerned about fibro in the least and just bought it on the spot. My advice, buy the place if you can rent it out easily and leave it as it is.
Hi All,
I have a Vinyl cladding business and clad over fibro, weatherboard and Hardiplank homes.We do 2 homes per week over 1100 in 12 years and can say that no home owner that I have known has ever clad their home to cover up asbestos in the fibro. People clad mainly because they don’t have to paint any more, also for insulation and for fibro, to change the appearnce of the home. Most builders have never had experience installing vinyl cladding.Why would you put weatherboard over fibro? When fibro came out they use to put it over weatherboard because it is easier to paint. I have 2 fibro IP’s, obviously I have Clad them. Also my own home is Clad with a pvc board straight on to frame. The old fibro is much stronger than current fibro, hardiplank and even weathertex. Its only a problem if you want to move a house or take it off the walls. At the right price I would buy all the fibro houses I could.
Robo
ps. I have a web site if anyone wants a look. Was that advertizing?
http://www.bestclad.com.auRobo,
Put your www in your signature as I have done.
All the best mate.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Thanks Simon
Robo
http://www.bestclad.com.auHi all, very interesting responses I would definately look at buying more fibros.
Doubt I could get another for $25,000.Heather,
I think it may be worth looking into for the very reason you think perhaps you shouldn’t! ie. people perceive it as a problem, perhaps more so than it really is, therefore it gives you a little more power to get a good price. I remember Kiyosaki giving an example of one of the very profitable real estate bargains he obtained, all due to something that could be fixed quite cheaply (others perceived it as a problem).
regards,
Paul
Analysis Paralysis, while you are thinking about buying and the ifs, buts and maybeeeeeeeeees someone has already made it happen.
As long as you have done the homework, get it for the right price and know that there is a good market for rental – buy. [exhappy]
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