Hi all
I've found old fibro home built in the early 1960s that I'm considering buying, but my wife and I have some concerns. Given it's age, it would need some renos (particularly bathroom), but my wife is concerned about the asbestos in the fibro. She also feels tenants wouldn't want to live in a fibro home due to the asbestos.
The reason for my interest is that it's in a great location and is likely to be around $50k less than equivalent homes in the area. The price is lower due to the fibro; there was also some termite damage (treated a few years ago) and some other repairs would be needed. I'd estimate $20k for repairs, but this is very much a ball-park figure.
Normally I'd just walk away from something like this, but am very tempted given the location of the property and discounted price. Is it worth putting in an offer subject to B&P, or should I just walk away?
Cheers,
GG
I've found old fibro home built in the early 1960s that I'm considering buying, but my wife and I have some concerns. Given it's age, it would need some renos (particularly bathroom), but my wife is concerned about the asbestos in the fibro. She also feels tenants wouldn't want to live in a fibro home due to the asbestos.
The reason for my interest is that it's in a great location and is likely to be around $50k less than equivalent homes in the area. The price is lower due to the fibro; there was also some termite damage (treated a few years ago) and some other repairs would be needed. I'd estimate $20k for repairs, but this is very much a ball-park figure.
Normally I'd just walk away from something like this, but am very tempted given the location of the property and discounted price. Is it worth putting in an offer subject to B&P, or should I just walk away?
Cheers,
GG