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    Default Asbestos in an investment?

    Morning! Looking at getting our first investment property in auckland. It would be a long term investment. Good price, in Avondale so good location for capital gain (err, well, IMO). Reasonable section, 1960s bungalow, already tenanted which is a bonus. Just had building report done and the outside cladding (done over weather boards) is possibly an asbestos-based fibrolite. May not be, but done 1981 and looks it. Thinking about getting a test done, but...how could asbestos cladding affect my resale value? We'd look to remove it and go back to weatherboard anyways but if we don't have a spare 50k around I'm wondering if this could seriously impact out capital gain (say within 10-20 years). Any thoughts/opinions? Anyone else dealt with asbestos cladding? Thanks heaps


 

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