Asbestos and real estate value?
Posted on September 29th, 2009 by admin
Asbestos
I planning on removing asbestos tiles from exterior of my home. I know all the dangers and know how to do it properly and cost efficiently but here is the question. Will my property value go up if I can show that I removed and properly disposed of asbestos?
Homes in my area have mix of everything, stone, brick, asbestos covered with vinyl siding… I’m planning on putting vinyl cider siding after taking asbestos down. I’m not going to sell it for long time. My way of thinking is that buyer will not have to worry about asbestos when he deciding on buying and I will have upper hand because I will be asbestos free unlike the rest of the properties around. What you think?
Homes in my area have mix of everything, stone, brick, asbestos covered with vinyl siding… I’m planning on putting vinyl cider siding after taking asbestos down. I’m not going to sell it for long time. My way of thinking is that buyer will not have to worry about asbestos when he deciding on buying and I will have upper hand because I will be asbestos free unlike the rest of the properties around. What you think?
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I planning on removing asbestos tiles from exterior of my home. I know all the dangers and know how to do it properly and cost efficiently but here is the question. Will my property value go up if I can show that I removed and properly disposed of asbestos?
Homes in my area have mix of everything, stone, brick, asbestos covered with vinyl siding… I’m planning on putting vinyl cider siding after taking asbestos down. I’m not going to sell it for long time. My way of thinking is that buyer will not have to worry about asbestos when he deciding on buying and I will have upper hand because I will be asbestos free unlike the rest of the properties around. What you think?
Homes in my area have mix of everything, stone, brick, asbestos covered with vinyl siding… I’m planning on putting vinyl cider siding after taking asbestos down. I’m not going to sell it for long time. My way of thinking is that buyer will not have to worry about asbestos when he deciding on buying and I will have upper hand because I will be asbestos free unlike the rest of the properties around. What you think?
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Filed under: Renting & Real Estate
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It all depends upon the condition of the siding before removal and the type of new siding you put up. Asbestos siding isn’t like asbestos insulation – there’s no need to fear it just for being there. Asbestos siding can only hurt you if you crack it or take an electric saw to it and cause it to become a powder that you inhale. It is a very durable siding.
If you replace it with a cheapo vinyl siding, I think you’ve just LOWERED the value of the home. If you replace it with a good Hard-Plank type of siding, then the value will certainly increase.
The increase in value is not because “I removed asbestos”, it’s because there is a nicer siding on the house now. It would be no different than replacing old rotted wood siding with a cement fiber board siding.
Are there other houses in the neighborhood that have newer siding? If not, then you may be wasting effort and money.