Asbestos Rooves and Fencing
Okay you arrive onsite looking for that next deal, you’ve done the financials they work. So any problems with the house in the building & pest – no. Hmmm that’s a pretty mouldy looking roof but the building & pest said it was okay and the fences look a bit daggy… Are they asbestos – does it matter?
Fences between neighbours can always be contentious things as a developer or flipper you will want to present the finished product looking at its best for the best end price so you may want to change that fence to colourbond or similar.
Figure 1: Deteriorating asbestos cement fence.
The neighbour doesn’t want to change the fence so will you offer more than half or pay for the whole thing to improve the visuals of the site? If it’s asbestos and more than (5 or 10 square metres-depends which state of Australia you’re in) you have to use an asbestos removalist to get rid of it and that will be more costly. These fences unpainted deteriorate in polluted city areas (the acidic rain eats the cement releasing the asbestos) also damage from kids, dogs, mower and whipper snippers also take their toll.
Figure 2: Nicely painted and sealed asbestos cement fence but it had whipper snipper damage all along the bottom.
You can seal them but the material tends to absorb the paint so a few coats will be needed and are there any broken bits in the grass or driveway where part of it has been removed? So when you do your cost analysis maybe you need to allow for that fence replacement or least safe ways to tidy it up (you can’t sand it or water blast it).
Figure 3: Asbestos cement sheet fences are not always corrugated.
Roof cladding is another area of concern for the risk conscious investor, you may have noticed since the cyclones and storms of the last few years that insurance companies now ask if the house has an asbestos cement roof and is it sealed or in good condition. They may even ask for a professional assessment as part of the insurance assessment quote. An asbestos roof will also mean an increase in Insurance premiums so a longer term buy and hold will face additional costs.