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Considering buying a house in Nassau County that has asbestos siding covered with vinyl on the exterior of the house. I've done a ton of research and I know the health risks are minimal if intact/covered and it's very expensive to remove. I am mainly concerned about resale (planning to resell in 3-5 years) and how much it effects property value. Does anyone know roughly how many houses in the area have covered asbestos siding?
Well, the OP is looking to buy a house, possibly re-side it, and then sell it in 3-5 years for what I assume would be for profit. That's not flipping because he'll own it for at least 3 years?
Well, the OP is looking to buy a house, possibly re-side it, and then sell it in 3-5 years for what I assume would be for profit. That's not flipping because he'll own it for at least 3 years?
Correct. Flipping is considered buying it to fix it and sell it - without living in it.
In the past, investors did it in as short a period as 3 months; now lenders frown upon that and it's more like 6-12 months.
What crazy person covered the asbestos siding with vinyl siding? You can't do that. Installing vinyl siding requires nails, literally putting holes into the asbestos. Run away from that house. Don't buy it!
What crazy person covered the asbestos siding with vinyl siding? You can't do that. Installing vinyl siding requires nails, literally putting holes into the asbestos. Run away from that house. Don't buy it!
It happens/happened all over the country not just LI.
The amount of asbestos is very little in the siding. Unless you are grinding the shingles up and snorting it like cocaine the risk of anything happening to you from it is minimal. You'd have a better shot of getting hit by lightning and getting attacked by bear on the same day.
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