Hi everyone,
I am looking at purchasing an investment property, however the external walls are made from asbestos cement.
I am not looking to make any structural changes to the property in the short to medium term as it is in good condition.
I would like to ask a few questions relating to this purchase:
1. What do you think the risks are in investing in a property that has asbestos with external cladding?
2. I would like to hear from those of you that have invested in a similar type of property and what your experiences have been from a rental and resale point of view? Were you adversely impacted?
3. Any other relevant thing to consider.Your thoughts on this matter would be greatly appreciated.
Thanks,
KrisThey may be cheaper and uglier but you can pick them up & sit on them as a development site for later.
Hi Kris.
Be VERY CAREFUL with asbestos. It is not considered dangerous as long as it is intact however, should the outside cladding be damaged in anyway leading t the possible release of asbestos particals then you as the owner are up for some significant liabilty issues and expenditure.
To safely remove asbestos it is a mansatory requirement to have the entire building encased in a palstic bubble and ALL workers must wear full body protective suits with independent breathing apparatus. The average cost to have esbestos removed from a typical residential property starts at around $20,000 and can take months to clean up. As i've said, as long as it remains structurally sound you are ok but, should there be even the slightest deteriation or damage you will be in a world of legal and fiscal hurt.
My personal opinion: do NOT touch unless the price is so cheap that you can factor in an asbestos clean up and still be in front.
I hope this has been of benefit to you.
Kind regards,Thanks for your prompt responses guys, they have been helpful.
I welcome others to comment also.
Encapsulation is not required for ac sheet. It is sprayed with pva & removed with due care, placed in a skip lined with .2 mm plastic & tipped at a designated location. Nor should it cost 20k.
Disposable paper suits & dual-stage masks are adequate protection.
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